2009-10 Annual Report - Australia Post

2010
$m
consolidated
11 Investments in jointly controlled entities (continued)
share of jointly controlled entities’ profits
revenues
614.1 635.2
expenses
(593.5) (622.9)
net profits before income tax
20.6 12.3
income tax expense
(6.2) (1.5)
net profits after income tax
share of assets and liabilities
14.4 10.8
current assets
90.8 83.0
non-current assets
436.1 441.7
total assets 526.9 524.7
current liabilities
(73.4) (65.6)
non-current liabilities
(157.9) (160.8)
total liabilities (231.3) (226.4)
net assets
retained profits of the consolidated entity attributable to jointly controlled entities
295.6 298.3
Balance at the beginning of the financial year
31.4 42.5
share of profits for the year
14.4 10.8
actuarial loss
(2.0) (6.8)
dividends received/receivable
(14.2) (15.1)
Balance at the end of the financial year 29.6 31.4
the group’s investment in Multi Media logistics pty ltd was impaired during the year by $1.7 million. all other of the above-mentioned jointly
controlled entities were not impaired (2009: $nil).
the consolidated entity’s share of the jointly controlled entities’ net commitment payable is $385.5 million (2009: $365.5 million) and is included
in the schedule of commitments. the consolidated entity’s share of the jointly controlled entities’ contingent liabilities is $31.1 million
(2009: $34.5 million) and is included in the schedule of contingencies.
2009
$m
AustrAliA Post AnnuAl rePort 2009–10 | Financial and statutory reports 67