Vocus Group books $1.5b post-tax impairment for 2017

17/08/2017 11:30:00

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Vocus Group (ASX:VOC) has booked a $1.5 billion post-tax impairment for its 2017 financial year results.

The internet service provider announced the write-down after reviewing the carrying value of its assets and goodwill.

The review looked at the group’s five year business plans, which factored in the current competitive pressures.

The $1.532 billion write down will be carried across its Australian and New Zealand business lines in FY17. 

Meantime its unaudited EBITDA is expected to be $366.4 million, which is at the lower end of its guidance range.

Shares in Vocus Group (ASX:VOC) are trading over 2.7 per cent lower to $3.19.