Entire Annual Report - Anglo American Platinum

COMPANYGROUP1999 2000 2000 1999Rm Rm Rm Rm17. Investment in associate (continued)The carrying value of the investment is made up of:— — Share of net assets acquired 448,9 —— — Negative goodwill (219,5) —— — At acquisition (231,1) —— — Amortisation 11,6 —— — Cost of acquiring the investment in associate 229,4 —— — Income from associate 157,6 —— — Net profit for the year 146,0 —— — Negative goodwill amortised 11,6 —— — Taxation (49,0) —— — Current (8,1) —— — Deferred (40,9) —— — Dividends received (60,9) —— — Carrying value 277,1 —The summarised pro forma financial statements ofNortham Platinum Limited for the 12 months ended31 December 2000 are outlined below:INCOME STATEMENT— — Gross sales revenue 1 373,6 —— — Net profit before taxation 656,8 —— — Taxation (226,5) —— — Net profit after taxation 430,3 —BALANCE SHEET— — Non-current assets 1 294,2 —— — Current assets 723,2 —— — Long-term provisions 7,1 —— — Current liabilities 111,2 —18. Investments— 3,9 Unlisted investments at cost 4,4 1,0Directors’ valuation: R4,4 million(December 1999: R1,0 million)Investment in wholly owned subsidiaries at cost2 392,2 4 290,3 (Annexure C)2 392,2 4 294,2 4,4 1,0161