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  18 Investment in associate

 
 
  2008
£ million
  2007
£ million
 
 
At beginning of year 4.8   4.3
Group's share of (loss) / profit of associate for the year (1.1)   0.9
Group's share of associate's cash flow hedging movement (0.1)   -
Dividends paid (0.4)   (0.5)
Exchange adjustments 0.5   0.1
 
 
At end of year 3.7   4.8
 
 
 
     
 

The group’s associate is AGR Matthey, which is a partnership operating in Australia in which the group has a 20% interest.

Summarised financial information in respect of the group’s associate is:

 
     
 
  2008
£ million
  2007
£ million
 
 
Total assets 43.0   47.8
Total liabilities (30.3)   (30.8)
 
 
Net assets 12.7   17.0
 
 
       
Total revenue 22.7   23.7
Total (loss) / profit for the year (5.5)   4.7
 
     
 
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