Metcash Limited (ASX:MTS) has reported to charge an impairment to goodwill and other assets for the half-year ended 31 October 2019. MTS has undertaken review of carrying value of its assets as a part of half-year financial statement preparations.
- MTS would recognise a $237.4 million post-tax charge.
- The review has considered the 7-Elevenâs notification of not renewing the supply contract after the expiry on 12 August 2020.
- The impairment is non-cash in nature, and it would be disclosed as a significant item in the half-year results.
By 1:20 PM AEST, MTS was trading at $2.88, down by 2.2% relative to the previous close.