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The publicly listed real estate agency McGrath warned investors to prepare for a $ 35 million coup for his business after a period of declining home sales
. "The Company expects to record an additional impairment charge of approximately $ 35 million in the Company's sales segment."
The New Look McGrath Ltd, from left to right: Peter Lewis (President); John McGrath (Executive Director); and Geoffrey Lucas (CEO) /
Photo: Provided
These badets were mainly recorded on the balance sheet as part of the agency's acquisitions in 2015. The $ 35 million is added to a depreciation of the acquisition gap of $ 21.8 million The company's sales were announced in the half-year results in February
"The last 12 months have been very difficult for McGrath. that the reduction in sales volumes during the fiscal year 2018 had an impact on the performance of the company, I am satisfied with the recent initiatives and the positive recovery of the company that we have seen, "said Lucas. its results, verified on August 20, remained unchanged at 38 ¢ at noon.
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