Group
Note
2016
2015
$’000
$’000
Gross revenue
21
760,988
673,487
Property operating expenses
22
(227,287)
(210,760)
Net property income
533,701
462,727
Management fees
23
– Base management fee
(42,999)
(38,137)
– Performance fee
(17,436)
–
Trust expenses
24
(6,993)
(5,629)
Finance income
25
16,150
8,273
Finance costs
25
(93,603)
(113,651)
Net foreign exchange loss
(16,005)
(47,653)
Gain on disposal of investment properties
–
2,023
Net income
372,815
267,953
Net change in fair value of financial derivatives
(1,236)
89,363
Net fair value (losses)/gains on investment properties
4
(2,349)
47,032
Share of joint venture’s results
8
43
–
Total return for the year before tax
369,273
404,348
Tax expense
26
(25,140)
(6,743)
Total return for the year
344,133
397,605
Attributable to:
Unitholders of the Trust and perpetual securities holders
344,151
397,600
Non-controlling interests
(18)
5
344,133
397,605
Earnings per unit (cents)
– Basic
27
13.742
16.533
(1)
– Diluted
27
12.692
16.533
(1)
(1)
The figures have been restated to reflect the bonus element in the new units issued pursuant to the preferential offering of units by the Trust in January 2016
(Note 20).
Statements of Total Return
Year ended 31 March 2016
The accompanying notes form an integral part of these financial statements.
.128
A-REIT ANNUAL REPORT
2015/2016
