February 4, 2018 / 10:22 PM / 17 days ago

BRIEF-Wesfarmers Updates On Significant Items Expected In 2018 Half-Year Results

Feb 5 (Reuters) - Wesfarmers Ltd:

* WESFARMERS - ‍SEES GROUP‘S HY STOCK WRITE-DOWNS OF £37 MILLION, RELATING TO EXCESS, UNSUITABLE AND DISPLAY STOCK, AND STORE CLOSURE PROVISIONS OF £40 MILLION​

* NON-CASH IMPAIRMENT OF £454 MILLION TO BE RECORDED IN HALF-YEAR AGAINST GOODWILL RECOGNISED ON ACQUISITION OF HOMEBASE

* WESFARMERS - ‍BUNNINGS UNITED KINGDOM AND IRELAND EXPECTED TO REPORT AN UNDERLYING LOSS BEFORE INTEREST AND TAX OF £97 MILLION ($165 MILLION) FOR HY2018​

* EXPECTS WRITE-DOWN OF BUKI DEFERRED TAX ASSETS OF £53 MILLION ($92 MILLION), TO BE REFLECTED IN GROUP‘S INCOME TAX EXPENSE FOR HY 2018

* WESFARMERS -ASSESSED CARRYING VALUE OF INVESTMENT IN TARGET, SEES NON-CASH IMPAIRMENT OF $306 MILLION BEFORE TAX, TO BE APPLIED AGAINST CARRYING VALUE OF BRAND NAME Source text for Eikon: Further company coverage:

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