Vacuum cleaner retailer Godfrey’s Group has deepened its first-half loss on the back of a $75.2 million impairment charge and other business restructuring costs.
The company’s net loss of $58.6 million for the six months to December 29 compares to its $21.7 million loss a year ago, while underlying profit – which excludes one-off significant items – has fallen almost 62 per cent to $897,000.
The company, which did not declare a dividend, anticipates full-year earnings to be between $5 million and $6 million due to a decline in like-for-like sales.
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