McConnell Dowell 2019 Annual Review

71 Annual Review 2019 All figures are in A$ 000’s 2019 2018 The following table illustrates summarised information of the investment in Dutco McConnell Dowell Middle East LLC: Unlisted Carrying amount of the investment At the beginning of the year 1,066 1,669 Exchange difference adjustments 10 33 Share of results after taxation (3,656) (636) AASB 15 adjustment to opening retained earnings (608) - Movement in Loan Receivable 1,941 - Funding requirements for DMDME Contract Liabilities 1,247 - At end of year - 1,066 The assets, liabilities and results of the operations of the associate are summarised below: Current assets 8,045 23,712 Non-current assets 1,105 1,728 Total assets 9,150 25,440 Current liabilities 14,784 14,660 Non-current liabilities 934 8,650 Total liabilities 15,718 23,310 Net assets (6,567) 2,130 Revenue 28,424 60,040 Profit / (loss) after taxation* (7,312) (1,272) Total comprehensive profit / (loss) after taxation (7,312) (1,272) * The Group’s share of profits / (losses) in DMDME and its subsidiaries is loss of $3.66 million (2018: loss of $0.64 million) Consolidated