Annual report home ► Downloads ►   The Bidvest Group Limited Annual report 2006 Commentary Value added statement Exchanges with government Directors’ responsibility for the financial statements Declaration by company secretary Report of the independent auditors Directors’ report Accounting policies Consolidated income statement Consolidated statement of recognised income and expenses Consolidated cash flow statement Consolidated balance sheet Notes to the consolidated financial statements Company income statement Company cash flow statement Company balance sheet Notes to the Company financial statements Interest in subsidiaries, joint ventures and associates   Notes to the consolidated financial statements for the year ended June 30       2006  R'000    2005  R'000  18. Interest in associates         Listed investments 385 267    386 518    Fair value at acquisition  209 337    178 428    Goodwill  175 930    208 090    Unlisted investments 67 533    44 720    Fair value at acquisition 57 642    44 350    Goodwill 9 891    370    Investments in associates at cost 452 800    431 238    Attributable share of post-acquisition retained earnings of associates 92 868    49 215    At beginning of year 49 215    43 052    Share of retained income 43 855    31 941    Reversal of prior year on becoming subsidiary, disposal or change in shareholding (202)   (25 778)   Advances 29 225    13 231      574 893    493 684              Advances to associates bear interest at rates of between 0% and 10% and have no fixed terms of repayment.         Market value of listed associates 479 221    430 882    Directors’ value of unlisted associates 133 845    77 515      613 066    508 397    Summarised financial information of associates (aggregated)                   Income statement         Revenue 4 533 617    4 046 391    Operating profit 343 917    288 247    Net finance charges (31 444)   (15 478)   Profit before taxation 312 473    272 769    Taxation (69 817)   (67 758)   Profit for the year 242 656    205 011              Balance sheet         Assets         Property, plant and equipment and intangible assets 1 517 824    1 144 000    Investments 27 750    32 998    Net current assets 500 642    312 243      2 046 216    1 489 241              Equity and liabilities         Capital and reserves 1 574 178    1 120 698    Deferred taxation 39 591    14 437    Borrowings 432 447    354 106       2 046 216    1 489 241    Details of major joint ventures are reflected in the Interest in subsidiaries, joint ventures and associates section.           ▲   Back to top