February 14, 2018 / 10:39 PM / a year ago

Australia's McGrath posts interim loss as impairments weigh

Feb 15 (Reuters) - Australian real estate company McGrath Ltd posted an interim loss on Thursday on impairment charges on its sales segment assets.

Net loss for the six months to Dec. 31 was A$25.5 million ($20.21 million),compared to a profit of A$2.7 million from a year ago, the company said in a statement.

Australia’s only listed realtor had issued a profit warning in November that sent its shares plunging, as higher taxes and other restrictions resulted in a sharp pullback in Chinese buying interest for new apartments. ($1 = 1.2617 Australian dollars) (Reporting by Ambar Warrick in Bengaluru)

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