Home Retail Group has booked a £852m exceptional goodwill impairment charge related to the recommended takeover offer from Sainsbury’s. The charge results from when Argos was owned by Great Universal Stores. Consequently, the company reported yeara fiscal year pre-tax loss of £804m. Excluding the exceptional charge, Home Retail Group made an annual profit of £94.7m, down 28% a fiscal year over a fiscal year, but slightly ahead of estimates.
Home Retail Group has booked a £852m exceptional goodwill impairment charge related to the recommended takeover offer from Sainsbury’s. The charge results from when Argos was owned by Great Universal Stores. Consequently, the company reported a fiscal year pre-tax loss of £804m. Excluding the exceptional charge, Home Retail Group made an annual profit of £94.7m, down 28% year over year, but slightly ahead of estimates.