Financial Statements
Notes to the Group financial statements
for the year ended 31 March 2006
18. Investments in associates
| 2006 £m |
2005 £m |
|
| Cost | ||
| At 1 April | 110 | 93 |
| Differences on exchange | 9 | (1) |
| Movement on acquisition of balance of shareholding | – | (3) |
| Additions | 7 | 5 |
| Impairment of trade or other receivables | (4) | – |
| Share of profit after tax | 37 | 42 |
| Dividends received | (28) | (26) |
| Disposals | (2) | – |
| At 31 March | 129 | 110 |
Investments in associates at 31 March 2006 include goodwill of £107m (2005: £100m). The Group’s share of cumulative retained profits of associated undertakings at 31 March 2006 is £57m (2005: £48m).
The Group’s principal interest in associated undertakings is a 20% holding of First American Real Estate Solutions LLC (‘FARES’), a US partnership, which is held by Experian. There are no other material interests in associated undertakings.
At 31 March 2006, the Group’s share of the assets of FARES amounted to £215m (2005: £185m), and its share of liabilities amounted to £89m (2005: £84m). The Group’s share of revenue for the year ended 31 March 2006 is £142m (2005: £142m), and its share of profit after tax is £37m (2005: £40m).
