Savills plc 2012 Annual Report - (PDF) - Investor relations

16(a). Group – Investments in joint ventures and associated undertakingsInvestment£mJoint venturesLoans£mTotal£mInvestment£mAssociated undertakingsGoodwill£mCost or valuationAt 1 January 2012 2.2 3.3 5.5 2.1 – 2.1Additions 0.4 – 0.4 0.1 0.2 0.3Loans repaid – (0.4) (0.4) (0.3) – (0.3)Disposals (0.1) (0.4) (0.5) – – –Exchange movement (0.1) – (0.1) – – –At 31 December 2012 2.4 2.5 4.9 1.9 0.2 2.1Share of profitAt 1 January 2012 3.4 – 3.4 2.8 – 2.8Group’s share of retained profit 2.5 – 2.5 4.6 – 4.6Dividends received (0.9) – (0.9) (5.1) – (5.1)Disposals 0.4 – 0.4 – – –Exchange movement (0.1) – (0.1) 0.1 – 0.1At 31 December 2012 5.3 – 5.3 2.4 – 2.4TotalAt 31 December 2012 7.7 2.5 10.2 4.3 0.2 4.5Total£mOur business Our governance Our resultsInvestment£mJoint venturesLoans£mTotal£mInvestment£mAssociated undertakingsCost or valuationAt 1 January 2011 1.4 1.9 3.3 3.8 0.2 4.0Additions 0.8 – 0.8 – – –Loans advanced – 2.1 2.1 0.2 – 0.2Loans repaid – (0.7) (0.7) – – –Impairment – – – (1.8) (0.2) (2.0)Exchange movement – – – (0.1) – (0.1)At 31 December 2011 2.2 3.3 5.5 2.1 – 2.1Share of profitAt 1 January 2011 2.5 – 2.5 1.8 – 1.8Group’s share of retained profit 1.5 – 1.5 2.5 – 2.5Dividends received (0.4) – (0.4) (1.5) – (1.5)Disposals (0.2) – (0.2) – – –At 31 December 2011 3.4 – 3.4 2.8 – 2.8TotalAt 31 December 2011 5.6 3.3 8.9 4.9 – 4.9In relation to the Group’s interests in joint ventures, the assets, liabilities, income and expenses are shown below:Current assets 13.1 10.3Non-current assets 6.4 5.3Current liabilities (9.8) (8.0)Non-current liabilities (2.0) (2.0)Net assets 7.7 5.6Revenue 21.7 16.6Expenses (18.8) (14.8)Share of income tax (0.4) (0.3)Share of post-tax profit from joint ventures 2.5 1.5Goodwill£m2012£mTotal£m2011£mSavills plc Report and Accounts 2012 91