Grandbridge Limited reported audited earnings results for the year ended June 30, 2017. For the period, the company’s total comprehensive loss was $4,029,377. A further assessment was made of the fair value of an investment in accordance with accounting standards. It was determined that a more prudent measure of valuation resulted in a $1.2 million charge to profit in the year under review. As part of this adjustment financial assets were reduced by $4.8 million and the asset revaluation reserve reduced by $3.6 million. As a result of the adjustment and a determination to de-recognise deferred tax assets there was a net positive adjustment of $0.59 million to the profit for the year and a corresponding positive increase in net assets. The adjustment to the fair value of an investment included the reversal of an asset revaluation reserve of $3.6 million.