Asahi's Better Drinks Co takes $3.7M impairment against brands, narrows full-year loss

Mon, 10 Jul 2017

By Jonathan Underhill July 10 (BusinessDesk) - Better Drinks Co, the New Zealand drinks company owned by Japanese brewer Asahi Group, has taken a charge against the value of its brands, the second year in a row it has recognised an impairment on its balance sheet. The Auckland-based company's 2016 accounts record an impairment of $3.7 million against its brands, writing them down to $20.3 million. That follows a $42.3 million impairment in 2015 to write off all of its goodwill. That resulted in a net loss of about $4.2 million, narrower t...

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