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MMA flags $140m impairment

Marine services company MMA Offshore has flagged a $140 million impairment in its upcoming FY16 results, with the majority of the charge attributed to its vessel fleet.

Fremantle-based MMA told the market this morning that it expects to recognise a $100 million impairment charge in the carrying value of its vessel fleet, $37 million against its Dampier Supply Base, and $3 million against its Dampier Slipway.

“The impairment charge reflects the ongoing impact of the company’s operations of the low oil price environment, which has led to a significant reduction in oil and gas related activity in both the Australian and international markets,” MMA said.

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MMA Offshore (MRM)

Share Price

Closing price for the last 90 trading days
Source: Morningstar

BN30 Index

Index = 100 as of 4 Jan 2016
Source: Morningstar

Total Shareholder Return as at 31/10/17

1 year TSR5 year TSR
49thEmeco Holdings248%-19%
131stSchaffer Corporation76%25%
142ndLycopodium69%-3%
226thCedar Woods Properties34%12%
647thMMA Offshore-38%-41%
726 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

22/06/17
$16k Bought
11/11/15
$48k Bought
11/11/15
$304k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

25th↑Cedar Woods Properties$222.4m
26th-Emeco Holdings$221.8m
27th↓MMA Offshore$221.8m
28th↑Schaffer Corporation$215.0m
29th↑Lycopodium$215.0m
231 listed industrial companies ranked by revenue.
Source: Morningstar

Remuneration from MMA Offshore

71stJeff Weber$1,000k
181stPeter Raynor$606k
183rdDavid Ross$605k
Ranked by total remuneration from all listed WA companies

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