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UPDATE 1-Australia's AMP flags $234 mln additional impairment charge for fiscal 2021

UPDATE 1-Australia's AMP flags $234 mln additional impairment charge for fiscal 2021

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Nov 26 (Reuters) - Australia's AMP Ltd on Friday warned of a A$325 million ($233.58 million) post-tax additional impairment charge in its fiscal 2021 results arising from partial impairment of deferred tax assets, among others.

The wealth manager earlier also warned of a A$65 million one-off hit to the full-year results from the sale of its 19% stake in Resolution Life's Australia business, as well as a provision of about A$45 million in pension remediation.

The impairments are expected to have an impact on capital of about A$220 million, but will not impact full-year's underlying net profit after tax, AMP saidon Friday.

"The charges reflect a comprehensive review of the balance sheet which included partial impairment of deferred tax assets, a write-down of intangibles ... and other impairments and adjustments," the wealth manager added.

AMP will provide further updates on its strategy and financial performance on Tuesday.

($1 = 1.3914 Australian dollars)

(Reporting by Sameer Manekar in Bengaluru; Editing by Daniel Wallis and Nick Zieminski)

((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))
UPDATE 1-Australia's AMP flags $234 mln additional impairment charge for fiscal 2021