Thursday October 29, 2020

Racing Post takes €57.6m writedown on goodwill writedown

The Irish owners of the Racing Post have taken a £47 million write-down on the goodwill associated with the newspaper.

23rd December, 2012

The Irish owners of the Racing Post have taken a £47 million write-down on the goodwill associated with the newspaper.

The paper, acquired in 2007 by Irish investors for £170 million, now has a goodwill value of £94 million, having taken a previous £8 million impairment in 2010.

The write-down left the paper nursing pre-tax losses of £34.2 million for 2011, according to accounts just filed in Britain for Stradbrook Acquisitions, its parent company.

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