A s socia t es and join t v en tur es A s socia t es ar e those en tities in which the Gr oup has signif can t in fuenc e but no t c on tr ol o v er the fnancial and oper a ting policies Join t v en tur es ar e those en tities o v er whose ac tivities the Gr oup has join t c on tr ol wher eb y the Gr oup has righ ts t o the ne t as se ts o f the arr angemen t r a ther than righ ts t o its as se ts and obliga tions f or its liabilities In t er es ts in as socia t es and join t v en tur es ar e ac c oun t ed f or using the equit y me thod T he y ar e r ec ognised initial ly a t c os t which includes tr ans ac tion c os ts Subsequen t t o initial r ec ognition the c onsolida t ed fnancial s t a t emen ts include the Gr oup s shar e o f the pr o ft or los s and OCI o f equit y ac c oun t ed in v es t ees un til the da t e on which signifcan t in fuenc e or join t c on tr ol c e ases Non c on tr ol ling in t er es ts Ac quisitions o f non c on tr ol ling in t er es ts ar e ac c oun t ed f or as tr ans ac tions with o wners in their capacit y as o wners and ther e f or e no goodwil l is r ec ognised as a r esult o f such tr ans ac tions T he ad jus tmen ts t o non c on tr ol ling in t er es ts ar e based on a pr opor tiona t e amoun t o f the ne t as se ts o f the subsidiary Changes in the Gr oup s in t er es t in a subsidiary tha t do no t r esult in a los s o f c on tr ol ar e ac c oun t ed f or as tr ans ac tions with o wners in their capacit y as o wners Ad jus tmen ts t o non c on tr ol ling in t er es t ar e based on a pr opor tiona t e amoun t o f the ne t as se ts o f the subsidiary No ad jus tmen ts ar e made t o goodwil l and no gain or los s is r ec ognised in pr o ft or los s T r ans ac tions elimina t ed on c onsolida tion In tr a gr oup balanc es and an y unr e alised gains and los ses or inc ome and e xpenses arising fr om in tr a gr oup tr ans ac tions ar e elimina t ed in pr eparing the c onsolida t ed fnancial s t a t emen ts Unr e alised gains arising fr om tr ans ac tions with as socia t es and join t v en tur es ar e elimina t ed t o the e xt en t o f the Gr oup s in t er es t in the en tit y with ad jus tmen ts made t o the In v es tmen ts ac c oun t ed f or using the equit y me thod and Shar e o f ne t pr o ft o f as socia t es and join t v en tur es ac c oun t ed f or using the equit y me thod ac c oun ts 5C DEED OF CR OS S GU ARANTEE Pursuan t t o A SIC C orpor a tions W hol ly o wned C ompanies Ins trumen t 2016785 da t ed 28 Sep t ember 2016 r eplacing A SIC Clas s or der 981418 da t ed 13 Augus t 1998 the whol ly o wned subsidiaries lis t ed belo w ar e r elie v ed fr om the C orpor a tions Ac t 2001 r equir emen ts f or pr epar a tion audit and lodgemen t o f fnancial r epor ts and dir ec t ors r epor ts It is a c ondition o f the Clas s Or der tha t the C ompan y and e ach o f the subsidiaries en t er in t o a Deed o f Cr os s Guar an t ee T he e f f ec t o f the Deed is tha t the C ompan y guar an t ees t o e ach cr edit or pa ymen t in ful l o f an y deb t in the e v en t o f winding up o f an y o f the subsidiaries under c er t ain pr o visions o f the C orpor a tions Ac t 2001 If a winding up oc curs under o ther pr o visions o f the Ac t the C ompan y wil l only be liable in the e v en t tha t a f t er six mon ths an y cr edit or has no t been paid in ful l T he subsidiaries ha v e also giv en similar guar an t ees in the e v en t tha t the C ompan y is w ound up T he subsidiaries subjec t t o the Deed ar e A CIRL Pr oprie t ary Limit ed A CIRL Qualit y T es ting Servic es P t y L t d ALS Me t al lur gy Holdings P t y L t d ALS Me t al lur gy P t y L t d ALS Me t al lur gy P t y L t d a tf Amm t ec Unit T rus t ALS Indus trial Holdings P t y L t d ALS Indus trial P t y L t d Aus tr alian L abor a t ory Servic es P t y L t d E c o wise Aus tr alia P t y L t d ALS South American Holdings P t y L t d A c onsolida t ed pr o ft and los s s t a t emen t c onsolida t ed s t a t emen t o f c ompr ehensiv e inc ome and c onsolida t ed bal anc e shee t c omprising the C ompan y and subsidiaries which ar e a par t y t o the Deed a f t er elimina ting al l tr ans ac tions be tw een par ties t o the Deed o f Cr os s Guar an t ee a t 31 M ar ch 2019 is se t out belo w Summary pr o ft and los s s t a t emen t and r e t ained pr o fts In mil lions o f A UD C onsolida t ed 2019 2018 Pr o ft be f or e t a x 1591 203 Inc ome t a x e xpense 172 173 Pr o ft a f t er t a x 1419 30 R e t ained pr o fts a t beginning o f y e ar 726 45 R e t ained e arnings ad jus tmen t 18 07 Dividends r ec ognised during the y e ar 998 808 R e t ained pr o fts a t end o f y e ar 323 726 R epr esen ts applicable amoun ts t ak en dir ec tly t o r e t ained e arnings 70 ALS LIMITED AND IT S SUBSIDIARIES A NNU AL F INANCIAL R EPOR T F OR THE Y EAR E NDED 31 M AR CH 2019 F INANCIAL REPOR T F INANCIAL S T A TEMENT S N O TES T O THE FINANCIAL S T A TEMENT S Gr oup s truc tur e