Mandarin Oriental International Limited - Mandarin Oriental Hotel ...
Mandarin Oriental International Limited - Mandarin Oriental Hotel ...
Mandarin Oriental International Limited - Mandarin Oriental Hotel ...
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50<br />
NOTES TO THE FINANCIAL STATEMENTS CONTINUED<br />
10 Associates and joint ventures continued<br />
MANDARIN ORIENTAL INTERNATIONAL LIMITED<br />
Restated<br />
2005 2004<br />
US$m US$m<br />
The Group’s share of assets and liabilities and results of associates and joint ventures<br />
is summarized below:<br />
Non-current assets 374.8 433.2<br />
Current assets 26.8 30.6<br />
Current liabilities (32.7) (47.2)<br />
Non-current liabilities (194.9) (188.0)<br />
174.0 228.6<br />
Revenue 130.2 121.3<br />
Profit before tax 10.3 13.1<br />
Net profit 8.7 12.6<br />
Capital commitments 4.7 3.5<br />
Contingent liabilities – –<br />
Movements of share of attributable net assets for the year:<br />
At 1st January<br />
– as previously reported 255.5 240.2<br />
– prior period adjustments 3.1 3.1<br />
– as restated 258.6 243.3<br />
Net exchange translation differences (3.9) 4.1<br />
Share of results 8.7 12.6<br />
Investments in and loans to associates and joint ventures 1.0 5.7<br />
Dividends received (17.6) (9.6)<br />
Share of property revaluation net of tax 4.6 10.6<br />
Repayment of loans to an associate (4.1) (7.2)<br />
Disposal of associates (refer note 26d) (35.7) –<br />
Others (6.6) (0.9)<br />
At 31st December 205.0 258.6