Interests in associates, joint ventures and other investments (Tables)

12 Months Ended

Dec. 31, 2018

Investments accounted for using equity method [abstract]

Movements in Associates, Joint Ventures and Other Investments

The movements in 2018 and 2017 were as follows:


	Interests in associates and joint ventures £m			Other investments £m
1 January 2017		1,069.4			1,310.3
Additions		34.5			67.7
Share of results of associate undertakings (note 4)		113.5			–
Dividends		(46.8	)		–
Other movements		3.4			–
Reclassification from other investments to associates		57.1			(57.1	)
Exchange adjustments		(10.6	)		(106.1	)
Disposals		(139.1	)		(1.7	)
Reclassification to subsidiaries		(6.3	)		–
Revaluation of other investments		–			32.1
Amortisation of other intangible assets		(5.7	)		–
Write-downs		(4.2	)		(91.7	)
31 December 2017		1,065.2			1,153.5
Additions		16.7			35.0
Share of results of associate undertakings (note 4)		43.5			–
Dividends		(49.7	)		–
Other movements		1.2			–
Reclassification from other investments to associates		0.3			(0.3	)
Exchange adjustments		12.9			–
Disposals		(304.0	)		(341.7	)
Reclassification to subsidiaries		16.9			–
Revaluation of other investments through profit or loss		–			68.1
Revaluation of other investments through other comprehensive income		–			(247.9	)
Amortisation of other intangible assets		(4.2	)		–
Write-downs		(2.0	)		–
31 December 2018		796.8			666.7

Principal Associates and Joint Ventures

The Group’s principal associates and joint ventures at 31 December 2018 included:


	% owned		Country of incorporation
Barrows Design and Manufacturing (Pty) Limited		35.0		South Africa
Chime Communications Ltd		24.9		UK
CVSC Sofres Media Co Limited		40.0		China
Dat Viet VAC Media Corporation		30.0		Vietnam
GIIR Inc		30.0		Korea
Haworth Marketing & Media Company		49.0		USA
High Co SA		34.1		France
Imagina		22.5		Spain
Marktest Investimentos SGPS S.A.		40.0		Portugal
Nanjing Yindu Ogilvy Advertising Co. Ltd		49.0		China
Richard Attias and Associates¹		49.0		USA
Smollan Holdings (Pty) Ltd		24.8		South Africa

Note

The Group sold its shareholding in Richard Attias and Associates in January 2019.

Summary of Aggregate Financial Performance and Net Asset Position of Associates and Joint Ventures

The following tables present a summary of the aggregate financial performance and net asset position of the Group’s associate undertakings and joint ventures. These have been estimated and converted, where appropriate, to an IFRS presentation based on information provided by the relevant companies at 31 December 2018.


	2018 £m			2017 £m			2016 £m
Income statement
Revenue		3,685.8			3,800.8			2,254.5
Operating profit		378.4			440.4			308.3
Profit before taxation		194.7			381.9			237.2
Profit for the year		118.1			312.5			156.7

Balance sheet
Assets		2,940.9			3,192.9			4,223.1
Liabilities		(1,570.6	)		(1,633.7	)		(1,900.0	)
Net assets		1,370.3			1,559.2			2,323.1