Annual Report 2008-2009 - Emirates.com

Dnata
Balance brought forward
126
10. Investments in subsidiaries, associated companies and joint ventures (continued)
Movement of investments in associated companies and joint ventures
The carrying value of the investments in associated companies amounted to AED 243.5 million (2008: AED 52.2 million) and the share
of results amounted to AED 10.6 million (2008: AED 17.4 million). The investments in associated companies and joint ventures include
a quoted investment, the fair value of which amounts to AED 60.0 million at the balance sheet date.
The financial statements of an associated company have been drawn from the date of investment to 31 December 2008 to comply
with the accelerated reporting timetable of Dnata. For the purpose of applying the equity method of accounting and disclosures, the
financial statements as drawn above have been used and appropriate adjustments have been made, where necessary, for the effect
of significant events between 1 January 2009 and 31 March 2009.
Summarised financial information in respect of associated companies is set out below:
Balance carried forward
2009 2008
AED'000 AED'000
264,077
25,264
38,998
Investments during the year 271,337
220,427
Share of results
24,953
12,825
Dividends
(8,854) (11,150)
Other equity movement (6,086)
154
Currency translation differences (77,071) 2,823
Balance carried forward 468,356
Total assets 3,346,235
Total liabilities
2,425,053
Net assets
921,182
Revenue 1,457,763
Profit for the year
17,481
264,077
2009 2008
AED'000 AED'000
307,616
130,468
177,148
212,058
36,323
Summarised financial information in respect of Dnata's share in joint ventures are set out below:
Non-current assets 238,813
196,268
Current assets
155,201
94,375
Non-current liabilities
48,630
11,902
Current liabilities
120,494
66,855
Total income 402,221
Total expense 387,832
11. Advance lease rentals
97,930
102,508
Balance brought forward 28,781
27,407
Currency translation differences (2,589) 2,652
Charge for the year (928) (1,278)
28,781