GPG Report & Accounts 2003 - Guinness Peat Group plc

22 • GUINNESS PEAT GROUP PLC • ANNUAL REPORTNotes to Financial Statements – continued2. Segmental Analysis - continued – Profit before tax and Net assetsProfit before tax Profit before tax Net assets Net assetsYear ended 31 December 2003 2002 2003 2002GEOGRAPHIC ANALYSIS£000 £000 £000 £000UK/Europe 37,530 20,816 292,797 244,716Australasia 29,229 7,493 147,088 124,280North America 19,780 2,595 16,071 24,301Goodwill (subsidiaries only) 1,181 1,095 (8,281) (10,734)87,720 31,999 447,675 382,563Discontinued operations – Australasia – 6,852 – –Profit on sale of subsidiary – Australasia – 12,238 – –87,720 51,089 447,675 382,563Analysis of goodwill:UK/Europe 159 176 (1,032) (1,163)Australasia 1,031 919 (7,367) (9,571)North America (9) – 118 –1,181 1,095 (8,281) (10,734)Amounts relating to acquired businesses:Group – North America (37) – 316 –Amounts relating to acquired businesses:Joint ventures (including goodwill) – UK/Europe 15,247 – 79,733 –The net asset comparatives have been restated for consistency.BUSINESS ANALYSISGroup:Investment 39,622 20,912 222,692 236,696Property development 5,431 5,708 16,847 11,206Testing services 17,576 2,560 16,516 24,670Building services 2,923 4,055 17,461 18,866Fruit/produce distribution and food processing 5,779 (4,558) 60,348 49,875Goodwill (subsidiaries only) 1,181 1,095 (8,281) (10,734)72,512 29,772 325,583 330,659Analysis of goodwill:Testing services (9) – 118 –Building services 159 176 (1,032) (1,163)Fruit/produce distribution and food processing 1,031 919 (7,367) (9,571)Discontinued operations:1,181 1,095 (8,281) (10,734)Malting – 6,852 – –Profit on sale of subsidiary – 12,238 – –– 19,090 – –Associates (including goodwill):Mining – (149) – 2,200Aluminium extrusion (455) 1,082 25,152 18,414Textiles (3,316) (216) (1) 12,181Fruit/produce distribution and food processing 1,061 1,213 6,728 4,359Other 2,000 815 2,224 2,171(710) 2,745 34,103 39,325Joint ventures (including goodwill):Accident repair services 443 (1,442) 8,191 11,345Thread manufacture 15,247 – 79,733 –Other 228 924 65 1,31415,918 (518) 87,989 12,65987,720 51,089 447,675 382,563