Computershare

Share registry group Computershare yesterday announced a likely impairment charge to the book value of its Continental European business, with a write down of US$55m-$65m to occur this half. In the words of managing director Stuart Crosby, ‘Escalating political and financial instability across Continental Europe has dragged on earnings and reduced our growth expectations in the region, leading us to anticipate writing down the value of our Continental European intangible assets.’ There are two follow up points. Firstly, this is a non-cash write down of the accounting value of the asset. At 30 June 2011, the division had segment...

Share registry group Computershare yesterday announced a likely impairment charge to the book value of its Continental European business, with a write down of US$55m-$65m to occur this half. In the words of managing director Stuart Crosby, ‘Escalating political and financial instability across Continental Europe has dragged on earnings and reduced our growth expectations in the region, leading us to anticipate writing down the value of our Continental European intangible assets.’

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