Page 180 - flipbook-ubp-IR

INTRODUCTION ABOUT US MANAGEMENT APPROACH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
10.
INVESTMENT IN ASSOCIATES (CONTINUED)
Details pertaining to the interests in associates are as follows:
Name of company
Pre-Mixed Concrete Limited (a) Cement Transport Ltd
Terrarock Ltd
Prochimad Mines et Carrières SARL Compagnie Mauricienne d’Entreprise Ltée
Country of incorporation
Mauritius
Mauritius
Mauritius
Madagascar 34.0% Mauritius 20.0%
Principal activities
Involve in the manufacture and placing of ready-mixed concrete.
Operating a fleet of bulk cement transport trucks, tractors and tankers.
Manufacture and sale of building materials.
Mine operations. Renting of properties.
Proportion of ownership interest (direct & indirect)
2022
-
2021 49.0%
25.0%
46.0% 34.0% 20.0%
(a)
On October 27, 2021, the Group acquired the remaining 51% shareholding in Pre-Mixed Concrete Limited thereby obtaining control over the entity. Summarised financial information of the associates that are material to the Group, based on their IFRS financial statements, and reconciliation with the carrying amount of the investment in the Group’s financial statements are set out below:
THE GROUP Terrarock Ltd
2022 Rs’000 Financial position
Compagnie Mauricienne d’Entreprise Ltée
Rs’000
74,904 7,364 1,977 (1,049) (2,978)
80,218 20.0%
16,044
7,125 200 - (683)
6,642 630
7,272 -
7,272
1,454
1,454
25.0% 46.0%
Non-current assets
Cash and cash equivalents
Other current assets
Current trade and other payables Non-current liabilities
65,591 250 43,735 (35,140) (14,237)
Equity 60,199 Proportion of Group’s ownership 46.0%
Carrying amount of investments 27,692
Statement of profit or loss and other comprehensive income
Revenue 193,617
Other income
Depreciation and amortisation Other expenses
Profit before tax
Income tax (expense) / income Profit for the year
Other comprehensive income Total comprehensive income
Group’s share of profit
Group’s share of total comprehensive income
2,369 (15,710) (156,291)
23,985 (4,173)
19,812 1,697
21,509
9,114
9,894
178
UBP INTEGRATED REPORT 2022