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Company       Group
2020 2019   (R’million) 2020 2019
      14 Investments in associated companies    
      14.1 (For more detail, refer Annexure B)    
97,1 97,1     Listed, at cost 601,6 601,6
96,4 171,1     Unlisted, at cost less amounts written off 638,1 755,8
        Share of accumulated other comprehensive income (393,2) (439,4)
        Share of accumulated profits since acquisition 1 594,3 1 356,1
193,5 268,2       2 440,8 2 274,1
        The trading results of the associate companies whose results are equity accounted in the consolidated financial statements are as follows:    
        Revenue (100%) 25 090,7 22 478,8
        Profit for the year (100%) 1 337,7 1 310,0
14.2

Reconciliation of associates income

Group
(R’million)		 Oceana Empresas
Carozzi		 UAC Foods National
Foods
Holdings
Limited		 Total
2020          
Income attributable to ordinary shareholders of Tiger Brands before abnormal items – 285,7 8,2 57,4 351,3
Abnormal items – – 1,1 – 1,1
Income attributable to ordinary shareholders of Tiger Brands – 285,7 9,3 57,4 352,4
Less: Total dividends – (105,5) – (8,7) (114,2)
Total share of associated companies’ income less dividends received – 180,2 9,3 48,7 238,2
2019          
Income attributable to ordinary shareholders of Tiger Brands before abnormal items 30,5 245,1 28,6 72,9 377,1
Abnormal items – – (5,9) – (5,9)
Income attributable to ordinary shareholders of Tiger Brands 30,5 245,1 22,7 72,9 371,2
Less: Total dividends (173,6) (94,3) (14,5) (9,6) (292,0)
Total share of associated companies’ income less dividends received (143,1) 150,8 8,2 63,3 79,2
14.3

Summarised statement of financial position of all associates

The aggregate statement of financial position of all associates are summarised as follows (100%):

  Group
(R’million) 2020 2019
Property, plant and equipment 12 693,5 11 354,0
Goodwill and intangible assets 4 093,9 4 026,9
Investments 59,9 64,0
Deferred taxation 233,6 192,5
Net current assets 3 404,7 2 583,6
Total assets 20 485,6 18 221,0
Long-term liabilities (6 260,5) (5 012,3)
Deferred taxation (2 251,0) (2 031,9)
Total shareholders’ funds 11 974,1 11 176,8
14.4

The assessment criteria as noted in the accounting policies is performed annually. Empresas Carozzi has met the assessment criteria to be classified as a material associate in the current year and thus further disclosure is provided in Annexure B.