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  19 Investment in associate  
 
  2009
£ million		   2008
£ million
 
 
At beginning of year 3.7   4.8
Group's share of profit / (loss) of associate for the year 2.0   (1.1)
Group's share of associate's cash flow hedging movement (0.2)   (0.1)
Dividends paid -   (0.4)
Exchange adjustments 0.3   0.5
 
 
At end of year 5.8   3.7
 
 
 
     
  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:		  
     
 
  2009
£ million		   2008
£ million
 
 
Total assets 53.5   43.0
Total liabilities (30.6)   (30.3)
 
 
Net assets 22.9   12.7
 
 
       
Total revenue 34.3   22.7
Total profit / (loss) for the year 10.0   (5.5)