Announcement of Impairment of Goodwill in The Cylinder Guy

GENERAL

Wed, Aug 10 2022 01:29 pm

10 August 2022

Announcement of Impairment of Carrying Value of Goodwill for The Cylinder Guy Cash Generating Unit

The Group has carried out its annual impairment assessment of goodwill for all Cash Generating Units (CGU).

As a result of cash flow modelling and the completion of an assessment in accordance with IAS36 the directors have determined that the carrying value of goodwill of The Cylinder Guy CGU should be impaired by $0.8m.

The Cylinder Guy business generated 11% of revenue of Just Life Group Ltd for the year ended 30 June 2022.

The annual financial statement and audit process is still in progress.

The audited company results of the Group are expected to be announced on the 26th August 2022.

Tony Falkenstein
Chief Executive Officer & Executive Director
E: [email protected]
M: +64 21 950 856