February 7, 2018 / 1:01 AM / 7 months ago

BRIEF-Flexigroup To Launch Consumer Lease Product In Mid-Feb

Feb 7 (Reuters) - Flexigroup Ltd:

* WILL BE LAUNCHING A NEW CONSUMER LEASE PRODUCT IN MID-FEBRUARY 2018

* CONSUMER LEASE PRODUCT, DELIVERED DIGITALLY, WILL BE LAUNCHED WITH A MAJOR RETAILER IN FEBRUARY

* SEES POST-TAX WRITE-OFF OF GOODWILL AND ACQUIRED INTANGIBLE ASSETS OF $76.2 MILLION AND CAPITALISED DEVELOPMENT SOFTWARE OF $12.9 MILLION

* EXISTING FLEXIRENT BRAND WILL BE RETIRED OVER TIME AND PORTFOLIO WILL BE RUN DOWN OVER NEXT FEW YEARS.

* EXPECTATION OF MEETING ITS CASH NPAT GUIDANCE OF $85-$90 MILLION FOR FY18 REMAINS UNCHANGED

* IMPAIRMENT CHARGE WILL HAVE NO ADVERSE EFFECT ON FLEXIGROUP’S INTERIM AND FINAL DIVIDENDS AS THESE ARE DETERMINED BY GROUP’S CASH NPAT Source text for Eikon: Further company coverage:

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