McConnell Dowell 2018 Annual Review

McConnell Dowell Financial Statements 2018 39 All figures are in A$ 000’s 2018 2017 Consolidated statement of comprehensive income for the year ending 30 June 2018 Revenue 707,689 378,593 Less: change in revenue estimates - (303,000) Net Revenue 707,689 75,593 Other income 7,544 17,744 TOTAL INCOME 715,233 93,337 Operating expenses (697,536) (463,998) Finance income 689 609 Finance costs (2,601) (5,223) Depreciation and impairment of fixed assets (4,418) (7,543) Bad debt - (10,754) Profit / (loss) before tax 11,367 (393,572) Income tax benefit (730) (30,657) PROFIT / (LOSS) AFTER TAX FOR THE YEAR 10,637 (424,229) TOTAL COMPREHENSIVE INCOME / (LOSS) FOR THE YEAR, NET OF TAX 10,637 (424,229) Attributable to: Members of the parent entity 10,637 (424,229) Non-controlling interest - - TOTAL COMPREHENSIVE INCOME / (LOSS) FOR THE YEAR, NET OF TAX 10,637 (424,229) Closed Group 26. Interests in Subsidiaries (cont.) Deed of cross guarantee McConnell Dowell Corporation Limited, McConnell Dowell Holdings Pty Ltd, McConnell Dowell Constructors (Aust.) Pty Ltd, Hylekite Pty Ltd, McConnell Dowell Pty Ltd, McConnell Dowell Corporation (NZ) Pty Ltd, Tweed River Entrance Sand Bypassing Company Pty Ltd, Built Environs Pty Ltd, Built Environs WA Pty Ltd, Built Environs Qld Pty Ltd & Built Environs Holdings Pty Ltd are parties to a deed of cross guarantee (“Closed Group”) under which each company guarantees the debts of the others. By entering into the deed, the wholly owned entities have been relieved from the requirement to prepare a financial report and directors’ report under ASIC Corporations (wholly-owned companies) Instrument 2016/785, issued by the Australian Securities and Investment Commission. During the year no dividend was declared and paid to Aveng Australia Holdings Pty Ltd, the immediate parent of McConnell Dowell Corporation Ltd (2017: nil). McConnell Dowell Annu l Review 75