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NOTE 28: ASSOCIATED COMPANIES
Information relating to significant associates:
Ownership interest Carrying Value Profit Contribution
Name 2008 2007 2008 2007 2008 2007
% % $000 $000 $000 $000
Washington H Soul
Pattinson & Co Ltd 42.85 42.85 531,520 545,897 22,583 42,657
Brickworks Investment
Company Ltd 17.78 20.50 71,099 77,836 4,100 3,071
602,619 623,733 26,683 45,728
Washington H. Soul Pattinson & Co Ltd (WHSP) is involved in coal, pharmaceutical, telecommunications and investment. WHSP’s
balance date is 31 July annually. At balance date WHSP owned 49.47% (2007 49.47%) of issued ordinary shares of Brickworks
Ltd. WHSP is incorporated in Australia.
Brickworks Investment Co Ltd (BKI) is a listed investment company. It has a reporting date of 30 June, and information for this
entity is based on the reported financial information for the year ended 30 June 2008 by that entity. BKI is considered an associate
despite Brickworks holding less than 20% ownership interest as there are two directors on the BKI board (with 4 directors in total)
who are associated with Brickworks. BKI is incorporated in Australia.
CONSOLIDATED
31 JULY 08 31 JULY 07
$000 $000
(a) Summarised share of associates financial information
Current assets 211,441 327,910
Non-current assets 712,320 751,481
923,761 1,079,391
Current liabilities 39,933 93,371
Non-current liabilities 86,523 116,472
126,456 209,843
Net assets 797,305 869,548
Outside equity interest 190,757 243,280
606,548 626,268
Revenue 296,081 351,239
Profit before income tax 46,447 85,744
Income tax expense (15,919) (14,093)
Outside equity interest (3,845) (25,923)
Profit after income tax 26,683 45,728
(b) Share of associates’ expenditure commitments
Capital commitments - * 9,978
Lease commitments - * 13,167
- 23,145
The entity has no legal liability for any expenditure commitments incurred by associates.
* Note: Associated company (WHSP) figures for 2008 were not publicly available at the time of preparation of this report.
(c) Contingent liabilities of associates
Share of incurred jointly with other investors - * 13,675
The entity has no legal liability for any contingent liabilities incurred by associates.
* Note: Associated company (WHSP) figures for 2008 were not publicly available at the time of preparation of this report.

 

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