General Capital reaffirms guidance

Wed, 15 Apr 2020

General Capital said it will break even despite the covid–19 outbreak slowing progress, although it warned this was before “difficult” impairment testing of intangible assets and fair value calculations of investments.Managing director Brent King said the economic impact of the lockdown will have an impact on company’s ability to justify the carrying value of its assets as the assumptions about future cash flows are called into question in the new environment.Since the pandemic began, the group has cut staff and overhead expenses, and reduced l...

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