At 1 April 201635.1
Share of profits of joint ventures3.8
Dividends received from joint ventures(5.4)
Currency translation differences2.6
At 31 March 201775.2
Share of profits of joint ventures2.3
Dividends received from joint ventures(3.3)
Currency translation differences1.0
At 31 March 201875.2

The group's interests in joint ventures mainly comprise its interests in Water Plus Group Limited (Water Plus) and AS Tallinna Vesi (Tallinn Water). Water Plus is jointly owned and controlled by the group and Severn Trent PLC under a joint venture agreement. Joint management of Tallinn Water is based on a shareholders' agreement.

Tallinn Water has disclosed a new contingent liability of EUR 26.5 million in its latest financial statements relating to possible third-party claims. If this contingent liability materialises in the future this would impact the group's share of profits of the joint venture and the joint venture's carrying value under the equity method of accounting.

There are no restrictions on the ability of the group's joint ventures to transfer funds to the group in the form of cash dividends, or to repay loans or advances made by the group.

Details of transactions between the group and its joint ventures are disclosed in note A6.


The company had no investments in joint ventures at either 31 March 2018 or 31 March 2017.