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Share Name Share Symbol Market Type Share ISIN Share Description
Sports Direct International Plc LSE:SPD London Ordinary Share GB00B1QH8P22 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 470.00 469.20 469.80 0.00 01:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Retailers 3,359.5 77.5 4.6 102.2 2,505

Frasers Group PLC COVID Potential Accounting Impact on Asset Values

09/04/2021 7:00am

UK Regulatory (RNS & others)


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RNS Number : 9054U

Frasers Group PLC

09 April 2021

Date: 9 April 2021

Frasers Group Plc

("Frasers Group" or the "Company")

COVID-19 Potential Accounting Impact on Asset Values

Further to our announcement on 23 February 2021, Frasers Group is continuing to assess the Covid-19 potential impact on asset values. In our ongoing assessment we note the continuing Government and Government advisor pronouncements regarding "third waves" and normality being "some way off", meaning further restrictions are in our view almost certain.

We also note the Covid-19 affected experiences, estimates, and judgements from other leading retailers.

Consequently, Frasers Group currently anticipates making material accounting non-cash impairments to freehold properties, other Property, Plant & Equipment, and IFRS 16 Right of Use Assets which could be in excess of GBP200m. This supersedes the previous announcement of 23 February 2021. Any such impairment would be in addition to impairments included in the half year results announced on 10 December 2020, and is expected to be included, subject to audit, with the Company's results for the financial year ending April 2021.

Ends.

   Frasers Group Plc                           T. 0344 245 9200 
   Tom Piper, Company Secretary    E. investor.relations@frasers.group 

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April 09, 2021 02:00 ET (06:00 GMT)

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