date:Jan 23, 2014
ts was 2.9%. Pensions financing, restated for the impact of the revision to the accounting standard IAS 19, was a debit of 133 million versus a debit of 145 million in the prior year.
The effective tax rate was 26.4%, the same as 2012. Our longer term expectation for the tax rate remains around 26%.
Joint ventures, associates and other income from non-current investments
Net profit from joint ventures and associates was broadly stable at 113 million despite higher investment behind the Lipto