At 1 April 201531.7
Share of profits of joint ventures5.0
Dividends received from joint ventures(4.6)
Currency translation differences3.0
At 31 March 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

During the year ended 31 March 2017, the group recognised a £39.1 million investment in Water Plus, a joint venture formed during the year between the group and Severn Trent PLC that is jointly owned and controlled by both parties under a joint venture agreement. Further details of the formation of Water Plus are disclosed in note 9.

The group's other interests in joint ventures mainly comprise its interest in AS Tallinna Vesi (Tallinn Water). Joint management of Tallinn Water is based on a shareholders' agreement.

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 2017 or 31 March 2016.