The company said it expected to recognise a non-cash impairment of goodwill amounting to about $200 million as part the review process.
This amount represents a 10% reduction of the goodwill carrying value previously attributed to the company’s assets.
“The company confirms that the impairment of goodwill will have no impact on debt covenants,” WorleyParsons said in a statement to the ASX.
“This comprehensive review will reflect the expected ongoing challenging market conditions and will be finalised around the time of full-year results release, scheduled for August 26.”
The previously released guidance for full-year statutory net profit after tax did not include the impact of any potential impairment.
