July 31, 2018 / 3:15 AM / 3 months ago

Australia's McGrath flags additional $26 mln impairment for FY18

July 31 (Reuters) - Real estate services provider McGrath Ltd said on Tuesday it expected to recognise an impairment charge of about A$35 million ($26 million) in the 2018 financial year against its company-owned sales segment.

The assets being impaired were mainly brought onto the balance sheet as part of agency acquisitions in 2015, McGrath said in a statement.

The company said it expected fiscal 2018 core earnings of about A$1 million ($741,800.00), in line with its previous guidance. ($1 = 1.3481 Australian dollars) (Reporting by Aaron Saldanha in Bengaluru; Editing by Subhranshu Sahu)

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