Annual Report - AWB Limited

Notes to and forming part of the financial statements for the year ended 30 September 2008 AWB LIMITED33. Deed of Cross Guarantee (continued)A consolidated summarised income statement and a consolidated balance sheet, comprising AWB Limited and controlled entities which areparties to the Deed after eliminating all transactions between parties to the Deed of Cross Guarantee, are set out below.Consolidated2008 2007$’000 $’000Summarised income statementProfit from continuing operations before tax 93,641 53,993Income tax benefit/(expense) (14,694) (21,744)Profit from continuing operations 78,948 32,249Retained profits at the beginning of the year 71,428 66,885Dividends recognised during the year (27,730) (27,706)Retained profits at the end of the year 122,646 71,428Balance sheetAssetsCash and cash equivalents 25,154 106,942Loans and receivables 950,629 791,053Inventories 374,269 184,742Other financial assets 203,029 99,317Available for sale financial assets 130,790 103,184Other assets 4,305 3,962Investments accounted for using the equity method 116,063 100,595Intangible assets 528,004 537,084Property, plant and equipment 102,095 107,334Deferred income tax assets 69,076 38,307Total assets 2,503,415 2,072,520LiabilitiesTrade and other payables 332,530 256,274Interest-bearing loans and borrowings 810,455 622,916Income tax payable 53,202 21,501Provisions 27,543 26,295Other financial liabilities 158,336 87,467Deferred income tax liabilities - 2,067Total liabilities 1,382,066 1,016,520Net assets 1,121,348 1,056,000EquityContributed equity 983,541 969,743Reserves 15,161 14,829Retained profits 122,646 71,428Total equity 1,121,348 1,056,000www.awb.com.au 113