Haier takeover costs F&P Appliances $39m in tax losses

Haier-controlled Fisher & Paykel Appliances has made a net loss of $8.2 million because of written-off tax losses.

F&P Appliances – which was taken over by 20% shareholder Haier and delisted late last year – took a $38.7 million impairment of its accumulated tax losses for the year ended March 31, as stated in accounts published on the Companies Office website.

Notes to the accounts say the group of companies wrote off accumulated tax losses up to November 12 2012 “due to shareholder continuity being breached on the change of ownership to the Haier Group”.

 

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