Annual Report - AWB Limited

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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
AWB LIMITED Notes to and forming part of the financial statements for the year ended 30 September 200834. Controlled EntitiesThe consolidated financial statements incorporate the assets, liabilities and results of the following subsidiaries in accordance with theaccounting policy described in note 1(b):Particulars in relation to controlled entitiesPercentage of equityinterest held by the GroupName Details Country of incorporation 2008 2007% %ParentAWB Limited Australia 100 100Controlled entitiesACN 005 144 445 Pty Ltd Australia 100 100ACN 053 109 069 Pty Ltd 2 Australia 0 100ACN 082 719 775 Pty Ltd Australia 100 100ACN 089 443 407 Pty Ltd Australia 100 100ACN 085 032 104 Pty Ltd (formerly Agrifood Technology Pty Ltd) Australia 100 100Aussigold Produce Pty Ltd Australia 100 100Australian Seed Inoculants Pty Ltd Australia 100 100Australian Wheat Board Pty Ltd Australia 100 100AWB (Australia) Limited* Australia 100 100AWB (Geneva) SA Switzerland 100 100AWB (International) Limited Australia 100 100AWB (USA) Limited USA 100 100AWB Asia Limited Hong Kong 100 100AWB Brasil Trading SA Brazil 100 100AWB Commercial Funding Ltd* Australia 100 100AWB Custodians Pty Ltd 3 Australia 0 100AWB Finance Limited* Australia 100 100AWB GrainFlow Pty Ltd* Australia 100 100AWB Harvest Finance Limited Australia 100 100AWB India Private Limited India 100 100AWB Investments Limited* Australia 100 100AWB Japan Pty Ltd Australia 100 100AWB Krishi Suvida Parisar (Kota) Private Limited India 88 88AWB Krishi Upaaj Vipnan Parisar (Talera) Private Limited India 88 88AWB Mauritius Private Ltd Mauritius 100 100AWB MPT Pty Ltd 1 Australia 0 100AWB Pools Pty Ltd (formerly AWB National Pool Pty Ltd) Australia 100 100AWB Plant Breeding Pty Ltd Australia 100 100AWB Research Pty Ltd Australia 100 100AWB Riskassist Limited Australia 100 100AWB Services Limited Australia 100 100AWB Singapore Private Limited Singapore 100 100AZL (Australia) Pty Ltd Australia 51 51AZL Ltd Japan 51 51Barrobook Pty Limited Australia 100 100Bushridge Pty Ltd Australia 100 100Ceres Risk & Insurance Solutions Pty Ltd New Zealand 100 100Dairy Rural Pty Ltd Australia 100 100Farmland Pty Ltd Australia 100 100Frank Sauer and Sons Pty Ltd Australia 100 100Franklin Smith IAMA Pty Ltd Australia 100 100Giswey S.A. Uruguay 100 0Glencoe Distributors Pty Ltd Australia 100 100114 www.awb.com.au
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6 www.awb.com.auFrom Peter Polson,C
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From Gordon Davis,Managing Director
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AWB todayOur client base extends to
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Landmark Rural ServicesRural Servic
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Financial Services (EBITDA)2004 44.
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Commodity ManagementCommodity Manag
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CorporateCredit ratingsAWB maintain
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People and communityPeopleThe busin
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22 www.awb.com.auManagement team
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24 www.awb.com.au
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Governance at AWBAWB’s Board and
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process was conducted within the co
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Information is regularly communicat
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Recommendation 9.3 - Clearly distin
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AWB Limited BoardPeter Polson Non-e
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36 www.awb.com.au
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AWB LIMITED Directors’ reportYour
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AWB LIMITED Directors’ reportDire
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AWB LIMITED Directors’ reportNon-
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AWB LIMITED Directors’ reportFixe
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AWB LIMITED Directors’ reportTabl
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AWB LIMITED Directors’ reportKMP
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AWB LIMITED Directors’ reportKey
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AWB LIMITED Directors’ reportTabl
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AWB LIMITED Directors’ reportGrou
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AWB LIMITED Income statements for t
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AWB LIMITED Statement of cash flows
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AWB LIMITED Statement of changes in
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Page 121 and 122: 120 www.awb.com.auAWB LIMITED Indep
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Page 129: AWB Limited ABN 99 081 890 459380 L
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Annual Report - AWB Limited

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