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Associates

2.2 Consolidated statement of profit or loss

There will also be a line before profit before tax representing the group’s share of the
associate’s profit after tax less any impairment losses less any PUP (where A is the
seller), called "share of profit of associate".

Dividends received by the parent from the associate are excluded from the statement
and replaced with the share of associate's profit calculated above.

Note: Non-controlling interests are not applicable for associates as the group only
reflects its share in the associate's net assets and profit for the year.

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