Cash Converters records AUD$110.5M goodwill impairment; EZCORP (43.7% owner) assessing impact

EZCORP INC

Cash Converters recognized a one-time non-cash goodwill impairment of AUD$110.5M for H1 FY2023.
Impairment triggered by Australian Financial Sector Reform Bill 2022 regulating small amount credit contracts.
EZCORP owns 43.7% of Cash Converters and is evaluating the impact on its earnings, including tax and FX effects.
The legislative changes were passed by Australian Federal Parliament in December 2022.

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