McGrath writes off all goodwill

Original article by Su-Lin Tan
The Australian Financial Review – Page: 35 : 21-Aug-18

Listed real estate agency McGrath has reported a net loss of $63 million for 2017-18, which includes an impairment expense of $59 million after writing off its entire goodwill. McGrath recorded EBITDA of $1 million, while revenue fell by 23 per cent to $99 million. Its full-year fees from property management were down, with the number of properties managed by company-owned agencies declining from 7,463 to 7,215.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s