2010 2009
$’000 $’000
Retained profits attributable to the joint venture entities and partnerships
At 1 July 27,545 20,939
Current year profit before tax 76,343 70,643
Income tax expense (13,353) (10,565)
Distributions / dividends received (50,719) (53,472)
At 30 June 39,816 27,545
Movements in carrying value of investment in joint venture entities and partnerships
At 1 July 86,498 76,230
Effect of changes in foreign exchange rates (377) 1,904
Transfer from / (to) loan account (3,600) 1,758
Additions 969 -
Return of capital (10,000) -
Disposals –sale of Five D Holdings Pty Limited 3,547 -
Distributions/dividends received (50,719) (53,472)
Share of operating profits after tax 62,990 60,078
At 30 June 89,308 86,498
I ncorporatedU nincorporated
j oint ventures j oint ventures Partnerships T otal
2010 2009 2010 2009 2010 2009 2010 2009
$’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000
Share of joint venture entities and
partnerships’ revenues, expenses and results
Revenues 587,973 549,783 274,869 346,413 38,556 32,514 901,398 928,710
Operating expenses (540,693) (507,607) (245,547) (317,584) (35,354) (29,684) (821,594) (854,875)
Earnings before interest, taxation, 47,280 42,176 29,322 28,829 3,202 2,830 79,804 73,835
depreciation and amortisation
Depreciation (2,161) (2,439) (341) (725) (97) (97) (2,599) (3,261)
Earnings before interest, taxation 45,119 39,737 28,981 28,104 3,105 2,733 77,205 70,574
and amortisation
Amortisation - - - - (72) (72) (72) (72)
Earnings before interest and taxation 45,119 39,737 28,981 28,104 3,033 2,661 77,133 70,502
Net finance income / (expense) (1,052) (1,114) 538 1,526 (276) (271) (790) 141
Net profit before income tax 44,067 38,623 29,519 29,630 2,757 2,390 76,343 70,643
Taxation (13,353) (10,565) - - - - (13,353) (10,565)
Net profit after tax 30,714 28,058 29,519 29,630 2,757 2,390 62,990 60,078