MMA Offshore flags $120M impairment

Company News

MMA Offshore Limited (ASX:MRM) has flagged a $120 million impairment charge against the carrying value of its assets. 
 
The marine logistics company says the charge represents the impact of a lower oil price environment and lower oil and gas construction activity. 
 
MMA Offshore has advised the amount of the impairment charge is subject to finalisation of the company’s annual audited financial accounts. 
 
The company has confirmed its FY15 underlying earnings will be similar to the reported earnings in the year prior. 
 
MMA Offshore reported a net profit of $37.7 million in the first half of the 2015 financial year.