Japara Healthcare: Flags $300M COVID-19 impairment
- Aged care provider Japara Healthcare has flagged a $300 million impairment for the 2020 financial year
- The company said the impairment is directly due to COVID-19, but won’t impact debt facilities, cash flows, or normalised earnings
- Japara is suffering from softened demand as a result of the coronavirus and had to withdraw its guidance in late March due to market volatility
- As such, the company experienced a moderate weakening in occupancy from Easter onwards
- Moreover, the company opened a new home on April 20 which is currently housing 16 residents
- Shares in Japara are trading 4.5 per cent higher today, currently worth 58 cents each
