All this information was sufficient for the defendants to have knowledge of the need for a goodwill writedown
, the prosecution said.
Kounnis, Lysandrou, Bouloutas and former executive board member Marcos Foros face charges of market manipulation and submitting false or misleading information with regard to publishing an interim consolidated financial statement in November 2011, in which they omitted to include a goodwill writedown
of e1/4330m for Marfin Popular Bank's -- as Laiki was then known -- operations in Greece.
Bottom-line losses also narrowed to pounds 25m from pounds 41m a year earlier because of fewer goodwill writedowns
than a year earlier.
14 November 2011 - Italy's banking group UniCredit SpA (BIT:UCG) plans to seek EUR7.5bn (USD10.2m) in fresh capital to reinforce its capital base, the bank said today after reporting a EUR10.6bn loss for the third quarter of 2011 because of EUR9.6bn of goodwill writedowns
However the profits were flattered by the inclusion of large goodwill writedowns
in the comparable period in 2001.
Sodexho said it would miss its goal of 2001-02 net profit after goodwill writedowns
of pounds 133 million.
But the results came in below analyst estimates amid a sharp drop in profitability at the company's information technology arm and hefty goodwill writedowns
Writedowns knocked its bottom line to a staggering pounds 5.1 billion loss - in France second only to Vivendi Universal's pounds 8.4 billion loss for 2001, also due to goodwill writedowns
The Paris-based unit of carmaker PSA Peugeot Citroen posted a loss of pounds 34.7 million, compared with pounds 24 million a year earlier, due to a restructuring charge of pounds 46.4 million before tax and goodwill writedowns
of pounds 69.1 million.
But, after goodwill writedowns
and amortisation, profits were slightly down at pounds 11.1 million from pounds 11.2 million.
Mr Hartnall's comments came as the company reported pre-tax profits, before goodwill writedowns
and exceptionals, of pounds 87 million in the six months to June 30, below last year's pounds 92 million.