Barclays 2009 Annual Report Download - page 39

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www.barclays.com/annualreport09 Barclays PLC Annual Report 2009 37
Share of post-tax results of associates and joint ventures
2009/08
The share of post-tax results of associates and joint ventures increased
£20m to £34m (2008: £14m), reflecting a £23m increase in results from joint
ventures largely from Barclaycard and Barclays Capital, and a £3m decrease
in results from associates, mainly due to reduced contributions from private
equity investments.
2008/07
The overall share of post-tax results of associates and joint ventures
decreased £28m to £14m (2007: £42m), mainly due to reduced
contributions from private equity associates and Barclays Capital
joint ventures.
Profit on disposal of subsidiaries, associates and joint ventures
2009/08
The profit on disposal of £188m (2008: £327m) is largely attributable to the
sale of 50% of Barclays Vida y Pensiones Compañía de Seguros (£157m),
and the 7% sale of GRCB – Emerging Markets Botswana business (£24m).
2008/07
On 31st October 2008 Barclays completed the sale of Barclays Life
Assurance Company Ltd to Swiss Reinsurance Company for a net
consideration of £729m leading to a net profit on disposal of £326m.
Gains on acquisitions
2009/08
Gains of £26m for the year relate to the acquisition of the Portuguese credit
card business of Citibank International PLC in December 2009.
2008/07
The gains on acquisitions in 2008 related to the acquisition of Lehman
Brothers North American businesses (£2,262m) on 22nd September 2008,
Goldfish credit card UK business (£92m) on 31st March 2008 and
Macquarie Bank Limited Italian residential mortgage business (£52m)
on 6th November 2008.
Gains on acquisitions 2009 2008 2007
£m £m £m
Gains on acquisitions 26 2,406 –
Share of post-tax results of 2009 2008 2007
associates and joint ventures £m £m £m
Profit from associates 19 22 33
Profit/(loss) from joint ventures 15 (8) 9
Share of post-tax results of
associates and joint ventures 34 14 42
Profit on disposal of subsidiaries, 2009 2008 2007
associates and joint ventures £m £m £m
Profit on disposal of subsidiaries,
associates and joint ventures 188 327 28