AUB Group Limited Annual Report 2023

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2023

8

INVESTMENT IN ASSOCIATES (CONTINUED)

iv) The Group’s reconciliation of its carrying value in its investment in associates are presented below:

2023 $’000

2022 $’000

Balance at the beginning of the period

250,100 10,522

280,643

Acquisition of or increase of investment in associates

9,552

Disposal or dilution of interest in associates

(6,104)

(6,048) (29,957)

Reclassification of investment in associates becoming controlled entities Reclassification of controlled entity to investment in associate on losing control

(13,057)

569

34

Reclassification of investment in associate to other investments where significant influence was lost

(1,786) 35,690 (37,889)

–

Share of associates’ profit after income tax Dividends/trust distributions received Net foreign exchange and other movements

39,053 (43,149)

481

(28)

Balance at the end of the period

238,526

250,100

v) The Group’s share of the assets and liabilities of associates:

2023 $’000

2022 $’000

Current assets

205,892 66,485 (176,769) (24,927)

165,777 94,250 (145,137) (28,335)

Non-current assets Current liabilities Non-current liabilities

Net assets

70,681

86,555

AUB GROUP ANNUAL REPORT 2023

100