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

Published 07/02/2018, 11:57 am
Updated 07/02/2018, 12:00 pm
© Reuters. BRIEF-Flexigroup To Launch Consumer Lease Product In Mid-Feb
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Feb 7 (Reuters) - Flexigroup Ltd FXL.AX :

* 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

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