Global Yellow Pages hit by impairments

SIGNIFICANT impairments landed Global Yellow Pages with net loss attributable to shareholders of S$62.37 million for the 15 months ended June 30, compared with net profit of S$5.13 million for the 12 months ended March 31, 2014. The group has changed its financial year-end to June 30.

If not for the one-off items, it would have recorded net profit of S$5.1 million for the 15 months which saw "one-off non-cash impairment of intangible assets of S$45.1 million relating to trademarks with indefinite useful life and non-cash impairment of S$22.8 million for investment in an associated company".

Revenue for the 15 months was S$32 million, 17.7 per cent up from the 12 months to March 31, 2014.