60 / 87
Notes to the Consolidated Financial Statements
(Thousands of US dollars)
58
Dar Al-Maal Al-Islami Trust
Annual Report 2014
15. Investments in
associates
(continued)
Summarised statement of comprehensive income
At 31 December
Faisal Islamic Bank
Solidarity Group
of Egypt
BBK B.S.C.
Holding B.S.C. (c)
Total
2014
2013
2014
2013 2014 2013 2014 2013
Income
- 527,213 311,793 298,103 19,652 17,857 331,445 843,173
Expense
- (343,398) (177,760) (176,511) (13,649) (12,083) (191,409) (531,992)
Income tax expense
-
(90,193)
(594) (1,520)
(615)
(444) (1,209) (92,157)
Post-tax profit
-
93,622 133,439 120,072 5,388 5,330 138,827 219,024
Dividends received
from associate
13,086 11,624 6,304 5,731
-
-
19,390 17,355
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
2014*
2013
2014 2013 2014 2013 2014 2013
Opening net assets 466,147 419,634 883,096 768,347 257,677 294,852 1,140,773 1,482,833
Profit/(loss) for
the period
31,335 93,622 133,439 120,072 5,388 5,330 138,827 219,024
Other comprehensive
income
7,667 21,174 (33,790) 22,660 18,109 (31,405) (15,681) 12,429
Dividends
(26,738) (23,752) (24,838) (22,581)
-
-
(24,838) (46,333)
IFRS adjustment
(6,293) (5,985)
-
-
-
-
-
(5,985)
Foreign exchange
differences
(12,867) (38,546) (4,719) (5,402) (43,783) (11,100) (48,502) (55,048)
Closing net assets
459,251 466,147 953,188 883,096 237,931 257,677 1,190,579 1,606,920
% Interest in
associates
49% 49% 25% 25% 34% 34%
Interest in
associates
224,757 228,132 241,454 224,130 79,480 88,737 320,934 540,999
Goodwill
44,524 44,524 110,952 110,952
-
- 110,952 155,476
Intangible assets
-
-
89,954 96,154
-
-
89,954 96,154
Disposal of shares
in associate
(264,125)
-
-
-
-
-
-
-
Reclassification of
remaining shares
(5,156)
-
-
-
-
-
-
-
Carrying value
at 31 December
- 272,656 442,360 431,236 79,480 88,737 521,840 792,629
* as at 31 May 2014