Financial Report 2009 - Leighton Holdings
Financial Report 2009 - Leighton Holdings
Financial Report 2009 - Leighton Holdings
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Notes continued<br />
for the year ended 30 June <strong>2009</strong><br />
25. ASSOCIATES CONTINUED<br />
The Group’s share of associates’ results, assets and liabilities is as follows:<br />
<strong>2009</strong><br />
$’000<br />
Group<br />
2008<br />
$’000<br />
Revenue 2,246,736 1,362,769<br />
Expenses (2,061,854) (1,347,983)<br />
Profit before tax 184,882 14,786<br />
Income tax expense (7,594) (13,478)<br />
Profit for the year 177,288 1,308<br />
Assets 2,967,653 2,406,885<br />
Liabilities (1,422,642) (1,224,967)<br />
Equity accounted associates at end of reporting period 1,545,011 1,181,918<br />
Investments in listed associates for which there are published price quotations had a market value at reporting date of:<br />
$169,693 (2008: $270,261).<br />
Impairment of investments in associates of $62,342 arose due to a decline in the recoverable amount of the investments. The<br />
recoverable amount of the investments is based on value in use calculations. Pre-tax discount rates within a range of 17-20%<br />
have been used in these calculations.<br />
<strong>Leighton</strong> <strong>Holdings</strong> Limited FINANCIAL REPORT <strong>2009</strong> 31
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