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Chapter
23
t
lnterests
ill
Ioint Ventures (lAS 31)
219
12. EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
BARLOWORLD
Notes to the Consolidated Annual Financial Statements for the Year Ended September 30
5. Investment in Associates and Joint Ventures '
2006
Rm
2005
Rm
2004
Rm
2006
Rm
2005
Rm
2004
Rm
Associates
Joint ventures
19
53
T1.
Income
25
28
53
65
34
22
314
435
1:l2
Investment
191
327
ill
95
224
ill
Per business segment:
Continuing operations
Equipment
Industrial distribution
Motor
Cement
Coatings
Scientific
Corporate and other
Total continuing operations
Discontinued operation-Steel tube
Total group
27
o
27
o
18
o
....Q
72
~
7.fJ.
8
o
23
2
20
o
....Q
53
-5.
.s..8
3
( 1)
59
11
27
o
-..ll
99
--.8.
l.Q1
553
o
84
o
83
o
.zs
749
---.2
ill
331
o
48
o
88
o
~
509
----.2
ill
133
o
27
8
78
o
..M
307
-.ll
ill
23 29
(30)
(18)
43 (109)
222 191
97
---.2
314 191
Associates
139 144
83 47
47 145
Joim Ventures
134 122 75
64
26 38
26 38 13
34
(8)
(I )
11 3
199
199
113
111
224
148
179
148
247
247
327
28
(27)
(13)
198
440
440
198
237
435
53
(17)
2
108
95
232
232
616
145
130
73
(29)
(29)
(653)
108
(13)
191
330
330
---.2
311
222
---.2
221
306
Valuation of shares
Directors' valuation of unlisted associate companies and joi nt
venture s
Directors valuation of unlisted associate companies–
discontinued operation
Cost of investment
Share of associates and joint ventures reserves
Beginning of year
Increase in retained earnings for the year
Normal and exceptional profit for the year
Dividends received
Disposals and other reserve movements
Avis associate now a subsidiary
Carrying value excluding amounts owing
Loans and advances to/(from) associates and joint venture s
Less: Discontinued operation-Steel tube
Ca r rying value including amounts owing
Carryin g value by category
Unlisted associates and joint ventures-share at carryi ng
value
Unlisted associates of discontinued operation- shares at
carryi ng value
Aggregate of group associate companies and joint ventures'
net assets
Revenue and profit
Property, plant, and equipment and other noncurrent assets
Current assets
Long-term liabilities
Current liabilities
Revenue
Profit after taxation
Cash flow from operations
656
445
80
155
950
23
21
26
167
12
80
640
29
l.Q
24
197
2
127
744
73
11
297
920
294
460
1,485
53
(139)
155
398
157
120
1,572
28
55
51
364
172
179
1,363
34
46
I
Ref er note
38
and
39
for a detailed list of associate and joint venture companies. Energyst has in the current year
been reclassified from an unlisted investment to an associate. In 2005 Valspar
SA
Corporation and International
Paints were reclassified from joint ventures to associates. Comparative numbers have been restated on a similar
basis.