Computershare flags writedown

Computershare has announced a US$40m writedown to be taken in its full-year results following a review of non-core assets. The writedown relates to the disposal of a Californian insurance business, an NZ wealth management technology company and a small global marketing business; the planned sale of a German investment bank; and the winding down of the company’s Digital Post Australia joint venture ‘due to the absence of market support for this mail channel’. Financially these businesses are inconsequential, but seeing the back of them will enable management – not least new chief executive Stuart Irving – to focus on...

Computershare has announced a US$40m writedown to be taken in its full-year results following a review of non-core assets. The writedown relates to the disposal of a Californian insurance business, an NZ wealth management technology company and a small global marketing business; the planned sale of a German investment bank; and the winding down of the company’s Digital Post Australia joint venture ‘due to the absence of market support for this mail channel’.

Financially these businesses are inconsequential, but seeing the back of them will enable management – not least new chief executive Stuart Irving – to focus on its core business.

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