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McGrath flags additional $35m impairment

Real estate agency McGrath Ltd said on Tuesday it expected to recognise an impairment charge of about $35 million in its full-year results 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.

McGrath said it expected to report 2017/18 earnings in line with its previous guidance at about $1 million when it releases its full-year results on August 20.

Austrlaian Associated PressBack to Breaking News

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