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.
