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| 28.
Related party transactions with associates and joint ventures |
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In
the year ended 31 March 2001, the group’s turnover
with Concert amounted to £804 million (2000 – £181
million) and it purchased £612 million (2000 – £170
million) in services and products from Concert. In addition,
the group provided certain support services to Concert,
including the secondment of staff, which totalled £168
million (2000 – £79 million) and is shown as other
operating income. Interest for the year of £41 million
(2000 – £12 million) was receivable on long-term
debt due from Concert at a rate of 6.5%. The amount of
debt outstanding at 31 March 2001 was £651 million (2000
– £665 million). The maximum debt outstanding during
the year was £674 million (2000 – £665 million).
As at the latest practicable date, 30 April 2001, the
balance of the loan was £636 million. During the year
ended 31 March 2000, Concert Communications’ net
outflow from operations was £18 million and its purchase
of tangible fixed assets was £106 million. Comparative
figures for 2000 are for the period from the formation
of the joint venture on 5 January 2000 to 31 March 2000.
In the year ended 31 March 2001, the group’s turnover
with its other associates and joint ventures amounted
to £21 million (2000 – £64 million, 1999 –
£129 million) and the group purchased £63 million (2000
– £nil million, 1999 – £1 million) in services
and products from these undertakings. Interest for the
year of £81 million (2000 – £8 million) was receivable
on debt due from these undertakings. Interest was charged
on debt at a rate of 6%. The amount of debt outstanding
with these joint ventures, at 31 March 2001, was £73 million
(2000 – £408 million). The maximum debt outstanding
during the year was £3,332 million(2000 – £442 million).
As at the latest practicable date, 30 April 2001, the
amount of debt outstanding was £46 million. |
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