Notes to the financial statements

for the year ended 3 January 2009

16.Investments in associates

	2008 Company €'000	2008 Group €'000	2007 Company €'000	2007 Group €'000
At the beginning of the year	1,395	10,729	1,395	10,933
Share of profit after tax	-	457	-	158
Exchange differences	-	-	-	(157)
Additions	-	611	-	-
Funding repaid	-	(200)	-	(205)
At the end of the year	1,395	11,597	1,395	10,729

The Group's share of the results of principal associates, all of which are unlisted, and its share of the assets (including goodwill) and liabilities are as follows:

	Assets €'000	Liabilities €'000	Revenues €'000	Profit/ (loss) €'000	Interest held %
2007
Co-operative Animal Health Limited*	7,968	5,916	15,098	(271)	50
South Eastern Cattle Breeding Society Limited*	1,851	878	1,735	102	57
Malting Company of Ireland Limited	4,793	2,102	3,773	310	33.3
South East Port Services Limited	7,417	5,175	1,451	165	49
Westgate Biological Limited	103	112	-	(148)	41.8
	22,132	14,183	22,057	158

	Assets €'000	Liabilities €'000	Revenues €'000	Profit/ (loss) €'000	Interest held %
2008
Co-operative Animal Health Limited*	8,463	6,219	15,411	163	50
South Eastern Cattle Breeding Society Limited*	4,837	832	1,824	130	57
Malting Company of Ireland Limited	5,092	2,245	5,288	156	33.3
South East Port Services Limited	7,582	6,071	1,792	195	49
Westgate Biological Limited	325	197	-	(186)	49.99
	26,299	15,564	24,315	458

*In accordance with Group accounting policy, Co-operative Animal Health Limited and South Eastern Cattle Breeding Society Limited are included in the Group result based on the equity method of accounting, as the Group has significant influence over the entities but not control, due to their co-operative structure.

Further details in relation to principal associates are outlined in note 44.