Investor Presentation
Group Financials
Significant Items
$m
Impairment of goodwill
Income tax benefit
Impairment of goodwill, net of tax
Restructuring charges
Accelerated depreciation
Income tax benefit
Restructuring, net of tax
Gain on contingent consideration payable and sale of controlled entities
Income tax expense
Gain on contingent consideration payable and sale of controlled entities,
net of tax
Significant items, net of tax
•
FY19
FY18
(178.8)
(29.6)
2.7
(178.8)
(26.9)
(2.9)
(6.4)
(2.5)
1.6
1.8
(3.8)
(4.6)
7.7
7.7
(174.9)
(31.5)
The accounting standard AASB 136 required assessment of carrying values as a result of the lower listings environment,
particularly in Sydney and Melbourne. These lower growth assumptions resulted in a non-cash impairment charge of
$178.8 million being recognised. The charge is non-cash in nature and there is no impact on banking covenants.
38 Investor Presentation
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