Asseco Q3 earnings affected by foreign units results

WSE-listed IT group Asseco warned that it will book PLN 116 million in impairments on its foreign units results. “As a result of the revision of plans of the Asseco Group in the area of operations on foreign markets and the deteriorating results and forecasts of the companies operating in Russia, Lithuania, Kazakhstan, Georgia, and Nigeria, there was a permanent impairment of assets related to these companies. As a result, the management of the company decided to include in the financial results of the third quarter write-downs on the value of these assets,” the company said. On the other hand, the recent sale of shares in its Israeli unit Formula Systems will boost the Q3 results by PLN 148 million.