Australia Post Annual Report 2008–09

11 Investments in jointly controlled entities (continued)
Share of jointly controlled entities’ profits
Revenues
Expenses
Net profits before income tax
Income tax expense
2009
$m
635.2
(622.9)
12.3
(1.5)
Consolidated
2008
$m
657.5
(626.4)
31.1
(8.8)
Net profits after income tax 10.8 22.3
Share of assets and liabilities
Current assets
Non-current assets
Total assets 524.7 547.1
Current liabilities
Non-current liabilities
83.0
441.7
(65.6)
(160.8)
93.1
454.0
(77.4)
(160.0)
Total liabilities (226.4) (237.4)
Net assets
Retained profits of the consolidated entity attributable to jointly controlled entities
298.3 309.7
Balance at the beginning of the financial year
42.5 41.8
Share of profits for the year
10.8 22.3
Actuarial loss
(6.8) 0.0
Dividends received/receivable
(15.1) (21.6)
Balance at the end of the financial year 31.4 42.5
The group’s investments in the above-mentioned jointly controlled entities were not impaired during the year (2008: $nil).
The consolidated entity’s share of the jointly controlled entities’ net commitment payable is $370.3 million (2008: $388.0 million) and is included in the Schedule of Commitments.
The consolidated entity’s share of the jointly controlled entities’ contingent liabilities is $34.5 million (2008: $34.5 million) and is included in the Schedule of Contingencies.
Australia Post Annual Report 2008–09 | Financial and statutory reports 79