STATEMENTS OF TOTAL RETURN
Group
Trust
Note
2014
2013
2014
2013
$’000
$’000
$’000
$’000
Gross revenue
16
100,342
89,485
100,342
89,485
Property expenses
17
(27,396)
(9,125)
(27,396)
(9,125)
Net property income
72,946
80,360
72,946
80,360
Finance income
82
61
82
61
Finance costs
(24,565)
(20,310)
(24,102)
(19,861)
Net finance costs
18
(24,483)
(20,249)
(24,020)
(19,800)
Amortisation of intangible assets
(1,383)
(1,427)
(1,383)
(1,427)
Manager’s fees
19
(6,173)
(5,868)
(6,173)
(5,868)
Trustee’s fees
(520)
(488)
(520)
(488)
Donation of non-Shari’ah compliant income
20
(54)
(131)
(54)
(131)
Other trust expenses
21
(1,225)
(1,415)
(1,239)
(1,427)
Loss on conversion of Convertible Sukuk
–
(1,228)
–
(1,010)
(7,972)
(9,130)
(7,986)
(8,924)
Net income
39,108
49,554
39,557
50,209
Net change in fair value of financial derivatives
5,298
1,393
3,137
2,689
Net change in fair value of investment properties
(7,501)
12,441
(7,501)
12,441
Total return for the year
before taxation and distribution
36,905
63,388
35,193
65,339
Tax expense
22
*
*
–
–
Total return for the year
after taxation and before distribution
36,905
63,388
35,193
65,339
Earnings per Unit (cents)
Basic
23
5.30
9.64
5.05
9.94
Diluted
23
5.08
9.64
5.05
9.71
* Less than $1,000
For the year ended 31 December 2014
The accompanying notes form an integral part of these financial statements.
SABANA REIT
|
ANNUAL REPORT 2014
90
