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STATEMENTS OF TOTAL RETURN
Group
Trust
Note
2013
2012
2013
2012
$’000
$’000
$’000
$’000
Gross revenue
16
89,485
81,768
89,485
81,768
Property expenses
17
(9,125)
(4,831)
(9,125)
(4,831)
Net property income
80,360
76,937
80,360
76,937
Finance income
61
197
61
197
Finance costs
(20,310)
(17,254)
(19,861)
(17,132)
Net finance costs
18
(20,249)
(17,057)
(19,800)
(16,935)
Amortisation of intangible assets
(1,427)
(1,331)
(1,427)
(1,331)
Manager’s fees
19
(5,868)
(5,491)
(5,868)
(5,491)
Trustee’s fees
(488)
(447)
(488)
(447)
Donation of non-Shari’ah compliant income
20
(131)
(147)
(131)
(147)
Other trust expenses
21
(1,415)
(1,783)
(1,427)
(1,786)
Loss on conversion of Convertible Sukuk
(1,228)
–
(1,010)
–
(9,130)
(7,868)
(8,924)
(7,871)
Net income
49,554
50,681
50,209
50,800
Net change in fair value of financial derivatives
1,393
(1,553)
2,689
(2,696)
Net change in fair value of investment properties
12,441
25,316
12,441
25,316
Total return for the year before taxation and
distribution
63,388
74,444
65,339
73,420
Tax expense
22
*
*
–
–
Total return for the year after taxation and
before distribution
63,388
74,444
65,339
73,420
Earnings per Unit (cents)
Basic
23
9.64
11.66
9.94
11.50
Diluted
23
9.64
11.34
9.71
11.34
* Less than $1,000
For the year ended 31 December 2013
The accompanying notes form an integral part of these financial statements.
SABANA REIT
|
ANNUAL REPORT 2013
106
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