Annual Report 2015
99
6 INVESTMENT IN ASSOCIATED COMPANIES
2015
2014
Balance at beginning of year
345,942
445,377
Acquisition of controlling interest in a subsidiary
(236,660)
–
Acquisition of associate
927
–
Share of current year profit
39,276
49,135
Dividends received
(5,638)
(9,740)
Exchange adjustments
–
(130,560)
Share of revaluation reserves
(1,781)
(8,270)
Balance at end of year
142,066
345,942
The Group’s interest in associated companies is as follows:
Country
Reporting
Proportion
of
year-end of
of issued
incorporation
associate
capital held
G4S Holdings (Trinidad) Limited
Trinidad and Tobago
December
24.50%
InfoLink Services Limited
Trinidad and Tobago
December
25.00%
East Caribbean Financial Holding Company Limited (ECFH)
St. Lucia
December
19.30%
Summarised financial information in respect of the Group’s associates are as follows:
Associates that
Other
Total Investment
are material
associates
in Associates
to the Group
ECFH
2015
2015
2015
2014
Total assets
9,292,324
172,458
9,464,782
11,355,441
Total liabilities
8,628,809
26,674
8,655,483
10,276,797
Net assets/equity
663,515
145,784
809,299
1,078,644
Group’s share of associates’ net assets
104,908
37,158
142,066
345,942
Profit for the period
18,401
14,367
32,767
318,409
Group’s share of profit of associated
companies after tax for the period
10,301
28,976
39,276
49,135
Group’s share of revaluation reserves
of associated companies
(1,781)
–
(1,781)
(8,270)
Dividends received during the year
–
5,638
5,638
9,740
