2568.11 kb - Compass Group

63 Compass Group PLC Annual Report 200713 Interests in associatesDuring the year the Group sold half of its 25% interest in its former associate Au Bon Pain leaving it with a 12.5% shareholding. This shareholdingis now accounted for as an investment (note 14).Principal associatesTwickenham Experience LtdOval Events LimitedThompson Hospitality Services LLCCountry of incorporationEngland & WalesEngland & WalesUSA2007 2006Interests in associates £m £mNet book valueAt 1 October 39 45Additions – –Business disposals – discontinued activities – (5)Business disposals – other activities (7) –Share of profits less losses (net of tax) 4 2Dividends received (6) (2)Reclassified to investments (note 14) (6) –Currency and other adjustments 1 (1)At 30 September 25 39The Group’s share of revenues and profits (including those from Au Bon Pain up to the date the Group reduced its shareholding to 12.5%)is included below:2007 2006Associates £m £mShare of revenue and profitsRevenue 37 50Expenses (33) (48)Profit after tax for the year 4 2Share of net assetsGoodwill 19 25Other 6 14Net assets 25 39Share of contingent liabilitiesContingent liabilities – –14 Other investments2007 2006Other investments £m £mNet book valueAt 1 October 9 6Additions 2 2Business disposals – discontinued activities – (2)Business disposals – other activities (4) –Reclassified from interests in associates (note 13) 6 –Currency and other adjustments (1) 3At 30 September 12 9Comprised ofDebenture and other holdings in sports and leisure venues 1 4Investment in Au Bon Pain 6 –Other investments 5 5Total 12 9