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BRIEF-WPP Aunz Says Non-Cash Impairment Of Intangible Assets Expected In 1H20 Of $150 Mln-$190 Mln

Published 16/07/2020, 11:22 am
Updated 16/07/2020, 11:24 am
© Reuters.

July 16 (Reuters) - WPP (LON:WPP) Aunz Ltd WPP.AX :

* WPP AUNZ LTD- NON-CASH IMPAIRMENT OF INTANGIBLE ASSETS EXPECTED IN 1H20 OF $150 MILLION TO $190 MILLION

* WPP AUNZ LTD- IMPROVED EARNINGS GUIDANCE FOR 1H20 HEADLINE EBIT OF $10 MILLION TO $14 MILLION

* WPP AUNZ LTD - AN EXPECTED LEVERAGE RATIO OF APPROXIMATELY 1.7X AT 30 JUNE 2020

* WPP AUNZ LTD - HEADLINE EBIT FOR 1H20 IS NOW EXPECTED TO BE WITHIN $10 MILLION TO $14 MILLION

* WPP AUNZ- IMPAIRMENT CHARGE RELATES TO ACQUIRED INTANGIBLE ASSETS INCLUDING BRAND NAMES, CUSTOMER RELATIONSHIPS AND GOODWILL

* WPP AUNZ- IMPAIRMENT CHARGE NON-CASH IN NATURE AND HAS NO IMPACT ON CO'S DEBT FACILITIES AND COMPLIANCE WITH BANK COVENANTS

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