Financial Report 2008 - Leighton Holdings

Notes to the Financial Statements continuedfor the year ended 30 June 200836. LEIGHTON HOLDINGS LIMITED AND CONTROLLED ENTITIES CONTINUEDIMS InnsolOn 1 April 2008 the Group acquired selected assets and liabilities of IMS Innsol for $2.4 million in cash, includingacquisition costs. In the three months to 30 June 2008, IMS Innsol contributed a net profit after tax of $0.05 million to theconsolidated net profit for the year.Southwest EnergyOn 3 September 2007 the Group acquired selected assets and liabilities of Southwest Energy for $4.9 million in cash,including acquisition costs. It is impracticable to determine the net profit or loss that Southwest Energy contributed to theconsolidated net profit for the year. The acquired business is not segregated and was integrated into an existing operatingunit. It is impracticable to determine the consolidated net profit and revenue if the combination had taken place on 1 July2007.MinipickersOn 3 September 2007 the Group acquired selected assets and liabilities of Minipickers for $4.7 million in cash, includingacquisition costs. In the ten months to 30 June 2008, Minipickers contributed a net loss after tax of $0.2 million to theconsolidated net profit for the year.Champ ConstructionsOn 1 October 2007 the Group acquired selected assets and liabilities of Champ Constructions for $5.7 million in cash,including acquisition costs. In the nine months to 30 June 2008, Champ Constructions contributed a net profit after tax of$0.1 million to the consolidated net profit for the year.OzboreOn 7 April 2008 the Group acquired selected assets and liabilities of Ozbore for $5.3 million in cash, including acquisitioncosts. In the three months to 30 June 2008, Ozbore contributed a net profit after tax of $0.1 million to the consolidated netprofit for the year.As some of the businesses acquired by the Group were integrated into existing operating businesses, it is not practicable todetermine the Group’s total revenue and profit had the acquisitions occurred on 1 July 2007. The total estimated profit after taxof the non integrated acquisitions would have been $6.25 million.Details of acquisitions for the reporting period ended 30 June 2007: CE Marshall & Sons EarthmovingOn 28 February 2007 the Group acquired selected assets and liabilities of CE Marshall & Sons Earthmoving Pty Limited(“Marshall’s”) for $99.3 million cash, including acquisition costs. In the four months to 30 June 2007, Marshall’s contributednet loss after tax of $1.5 million to the consolidated net profit for the year. ITSOn 1 July 2006, the Group acquired all the shares in Industrial & Technical Services Pty Limited, ITS Holdings Pty Limitedand ITS Lube Services Pty Limited (together “ITS”) for $3.4 million cash, including acquisition costs. In the year to 30 June2007, these companies contributed net profit after tax of $0.2 million to the consolidated net profit for the year. Ansett Aviation Engineering ServicesOn 1 June 2007, the Group acquired selected assets and liabilities of Ansett Aviation Engineering Services (“AAES”) for$10.0 million cash, including acquisition costs. In the one month to 30 June 2007, AAES contributed net loss after tax of$0.2 million to the consolidated net profit for the year.As some of the businesses acquired by the Group were in administration, it is not practicable to determine the Group’s revenueand profit had the acquisitions occurred on 1 July 2006.During the year to 30 June 2008 the Group disposed of the following controlled entities: Gulf Leighton LLC Leighton Contracting (Abu Dhabi) LLC Leighton Contracting (Qatar) WLL Metlabs Pty LimitedLeighton Holdings Limited Financial Report 2008 NOTES TO THE FINANCIAL STATEMENTS 64