Last checked at 1 Apr 2021 10:04
RESULT WARNING: AFARAK GROUP REASSESSED ITS IMPAIRMENT TEST REVIEW10:00 London, 12:00 Helsinki, 1 April 2021 - Afarak Group Plc ("Afarak" or "the Company") (LSE: AFRK, OMX: AFAGR)
RESULT WARNING: AFARAK GROUP RESSASSED ITS IMPAIRMENT TEST REVIEW
After the publication of the financial statement on 26 February 2021, the Board of directors reassessed the impairment test review deciding for an additional impairment of EUR 8.9 million on its South African mining business as reported in the Financial statements of Afarak Group plc published on 31 March 2021. In addition, a provision on a disputed tax claim amounting to EUR 0.9 million was recorded.
Helsinki, April 1, 2021
AFARAK GROUP PLC
Board of Directors
For additional information, please contact:
Afarak Group Plc
Guy Konsbruck, CEO, +356 2122 1566, guy.konsbruck@afarak.com
Financial reports and other investor information are available on the Company's website: www.afarak.com.
Afarak Group is a specialist alloy producer focused on delivering sustainable growth with a Speciality Alloys business in southern Europe and a FerroAlloys business in South Africa. The Company is listed on NASDAQ Helsinki (AFAGR) and the Main Market of the London Stock Exchange (AFRK).
Distribution: NASDAQ Helsinki London Stock Exchange Main media
www.afarak.com