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ASSOCIATES
AND JOINT VENTURES
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The results of associates and joint ventures before specific
items are shown below:
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2007
£m |
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2006
£m |
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2005
£m |
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Share
of post tax profit (loss) of associates and joint
ventures
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15 |
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16 |
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(14 |
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The group’s
share of post tax profits (losses) from associates and
joint ventures, before specific items, was a profit of
£15 million in the 2007 financial year. This compares
with a profit of £16 million in the 2006 financial
year and a loss of £14 million in the 2005 financial
year.
The
principal contributor to profit before taxation in the
2007 financial year was the group’s associate, Tech
Mahindra, which contributed £21 million (2006: £13
million, 2005 £6 million). In the 2006 and 2005
financial years the joint venture LG Telecom in Korea
also contributed a profit of £7 million and £6
million respectively. In the 2005 financial year, Albacom
in Italy contributed a loss of £22 million prior
to becoming a subsidiary. |
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