Ezion revises Q2 results down US$11.7m after associate impairment
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
LIFTBOAT provider Ezion Holdings has adjusted its second-quarter results down US$11.7 million following the additional impairment of property, plant and equipment and intangible assets of an associate.
As a result, profit for the three months ended June 30, 2016, will fall from US$19.8 million to US$8.1 million, it said in an announcement on Tuesday morning.
Profit for the half-year ended June 30 will fall from US$35.3 million to US$23.6 million.
Total assets and total equity will also fall accordingly.
After the adjustments, Ezion's carrying amount of the investment of the associate in question is US$6.7 million.
Ezion closed at S$0.24 on Monday.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Ministry of Home Affairs Permanent Secretary Pang Kin Keong to retire
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
