MMA Offshore Limited provided impairment guidance for the year ended June 30, 2015. For the period, the company expects to book a non-cash impairment charge of approximately $120 million before tax against the carrying value of its assets as at June 30, 2015. The impairment charge reflects the impact on the company's operations of the current low oil price environment combined with the reduction in oil and gas construction related activity in the Australian market. The company expects to recognise a $20 million impairment charge against the carrying value of the goodwill associated with the Dampier Supply Base and a further charge of approximately $100 million against the carrying value of the company's vessel fleet. In determining the impairment amount, consideration has been given to the expected future cash flows from the company's assets, based on assumptions around the outlook for rates and utilisation.

The company reconfirms that its full year underlying earnings for the financial year 2015 will be similar to the 2014 reported earnings.