ANZ Group announces additional charges ahead of results

Company News

by Jessica Ellerm


ANZ Group Limited (ASX:ANZ) has announced it will book $360 million in charges against its full year results, due out late next week.

The primary charges include a reduction to institutional markets revenue as a result of a new valuation calculations and a restructuring charge of $100 million.

The remainder of the charges is a result of changes in the application of the group’s software capitalisation strategy policy and charges related to its Esander Dealer Finance divestment.

The company will report its 2016 full year financial results on the 3 November.

ANZ Group Limited posted a net profit of at $2.74 billion at 31 March 2016.
 

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