Page 50 - NZPM Annual Report 2017

NZPM GROUP ANNUAL REPORT 2017

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

For the year ended 31 March 2017

13. INVESTMENTS IN ASSOCIATES (CONTINUED)

(i) Summarised financial information for Aquatherm NZ Limited and Construction Marketing Services
Limited
The summarised information represents amounts shown in the associate’s financial statements prepared in
accordance with NZ IFRSs (adjusted by the Group for equity accounting purposes).
The aggregate information for the associates is shown as they are not individually material.

2017 2016
$’000 $’000
Assets and liabilities of associates are as follows:
Total current assets 4,132 5,375
Total non-current assets 3,059 1,671
Total current liabilities (1,297) (1,545)

Results of associates - 100%:
Revenue 8,913 9,891
Depreciation and amortisation expenses (196) (161)
Interest expense (19) (8)

Post tax profit for the year 1,139 1,958
Total comprehensive income for the year 1,139 1,958

(ii) Reconciliation of the summarised information to the carrying amount of the Group’s interest in
associates recognised in the consolidated financial statements

Aggregate carrying amount of the Group's interest in these associates:
Balance at the beginning of the year 2,635 2,391
Group's share of post-tax profit 145 381
Group's share of dividends paid (153) (137)
Balance at the end of the year 2,627 2,635

(iii) Transactions with associates of the Group
The Group has entered into the following transactions with its associates during
the year:
Purchase of goods and services from associates 2,402 2,786
Sale of goods to associates 135 189
Receivables from associates 10 28
Payables to associates 149 179
Transactions were conducted on normal trading terms, as per note 20(b).

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