Group
Trust
Note 2015
2014
2015
2014
$’000
$’000
$’000
$’000
(Restated)
Gross revenue
21
673,487 613,592 655,370 605,692
Property operating expenses
22
(210,760)
(177,619)
(204,405)
(174,418)
Net property income
462,727 435,973 450,965 431,274
Management fee
23
(38,137)
(35,594)
(38,137)
(35,594)
Trust expenses
24
(5,629)
(5,188)
(4,441)
(4,885)
Finance income
25
8,273
30,459
8,362
30,353
Finance costs
25
(113,651)
(66,398)
(112,857)
(65,734)
Net foreign exchange (loss)/gain
(47,653)
(8,908)
(492)
19,556
Gain on disposal of investment properties
2,023
12,057
2,023
12,057
Net income
267,953 362,401 305,423 387,027
Net change in fair value of financial derivatives
89,363
11,574
36,805
(16,934)
Net appreciation on revaluation of investment properties
47,032 131,113
2,711
58,272
Total return for the year before tax
404,348 505,088 344,939 428,365
Tax expense
26
(6,743)
(23,244)
(2,434)
(1,703)
Total return for the year
397,605 481,844 342,505 426,662
Attributable to:
Unitholders of the Trust
397,600 481,968 342,505 426,662
Non-controlling interests
5
(124)
–
–
397,605 481,844 342,505 426,662
Earnings per unit (cents)
– Basic
27
16.54
20.07
14.25
17.77
– Diluted
27
16.54
18.45
14.25
16.27
S t a t e m e n t s o f T o t a l R e t u r n
Year ended 31 March 2015
The accompanying notes form an integral part of these financial statements.
122 123
