Notes to the Consolidated Financial Statements
(Thousands of US dollars)
53
Dar Al-Maal Al-Islami Trust
Annual Report 2013
14. Investments in
associates
(continued)
Summarised statement of comprehensive income
As at 31 December
Faisal Islamic Bank
Solidarity Group
of Egypt
BBK B.S.C.
Holding B.S.C. (c)
Total
2013
2012
2013
2012 2013 2012 2013 2012
Income
527,213 507,021 298,103 288,151 17,857 20,247 843,173 815,419
Expense
(343,398) (319,431) (176,511) (173,875) (12,083) 64,296 (531,992) (428,710)
Income tax expense (90,193) (83,597) (1,520) (1,520)
(444)
(427) (92,157) (85,544)
Post-tax profit
93,622 103,993 120,072 112,756 5,330 84,116 219,024 301,165
Dividends received
from associate
11,624 10,175 5,731 14,320
-
-
17,355 24,495
Reconciliation of summarised financial information
Reconciliation of the summarised financial information presented to the carrying
amount of its interest in associates.
Faisal Islamic Bank
Solidarity Group
of Egypt
BBK B.S.C.
Holding B.S.C. (c)
Total
2013 2012
2013 2012 2013 2012 2013 2012
Opening net assets 419,634 338,196 768,347 631,350 294,852 189,348 1,482,833 1,158,894
Profit/(loss) for
the period
93,622 103,993 120,072 112,756 5,330 84,116 219,024 300,865
Other comprehensive
income
21,174 20,367 22,660 59,551 (31,405)
(689) 12,429 79,229
Dividends
(23,752) (20,790) (22,581) (56,422)
-
-
(46,333) (77,212)
IFRS adjustment
(5,985) (3,733)
-
-
-
-
(5,985)
(3,733)
Foreign exchange
differences
(38,546) (18,399) (5,402) 21,112 (11,100) 22,077 (55,048) 24,790
Closing net assets
466,147 419,634 883,096 768,347 257,677 294,852 1,606,920 1,482,833
% Interest in
associates
49% 49% 25% 25% 34% 34%
Interest in
associates
228,132 205,369 224,130 195,006 88,737 97,828 540,999 498,203
Goodwill
44,524 44,516 110,952 110,952
-
- 155,476 155,468
Intangible assets
-
-
96,154 103,375
-
-
96,154 103,375
Carrying value
at 31 December
272,656 249,885 431,236 409,333 88,737 97,828 792,629 757,046
