Page 83 - Report_to_Unitholders_2012

Statements of Total Return
Year ended 31 December 2012
Group Trust
2012 2011 2012 2011
Note $’000 $’000 $’000 $’000
Gross rental income 141,464 122,583 – –
Other income 11,074 9,280 – –
Gross revenue 152,538 131,863 – –
Land rental (5,355) (4,818) – –
Property related tax (8,960) (8,561) – –
Business tax (8,737) (7,291) – –
Property management fees & reimbursables (6,256) (5,350) – –
Other property operating expenses 16 (23,554) (20,037) – –
Total property operating expenses (52,862) (46,057) – –
Net property income 99,676 85,806 – –
Manager’s management fees
– Base fee 17 (3,889) (3,367) (3,889) (3,367)
– Performance fee 17 (3,987) (3,432) (3,987) (3,432)
Trustee’s fees (287) (250) (287) (250)
Valuation fees (191) (242) – –
Other trust operating (expenses)/income 18 (971) (114) (415) 746
Dividend income – – 16,232 11,760
Foreign exchange gain/(loss) – realised 6,608 (485) 310 (562)
Finance income 842 457 11,413 28,221
Finance costs (11,661) (10,928) (9,857) (9,488)
Net finance (costs)/income 19 (10,819) (10,471) 1,556 18,733
Total return before change in fair value of
fnancial derivatives, investment properties
and unrealised foreign exchange gain/(loss) 86,140 67,445 9,520 23,628
Ineffective portion of changes in fair value of cash
flow hedges – (1,423) – (1,423)
Change in fair value of financial derivatives – – 11,764 5,415
Change in fair value of investment properties 4 102,978 95,945 – –
Foreign exchange gain/(loss) – unrealised 1,743 (86) (27,826) (10,180)
Total return for the year before taxation 190,861 161,881 (6,542) 17,440
Taxation 20 (50,758) (41,353) – 43
Total return for the year after taxation 140,103 120,528 (6,542) 17,483
Non-controlling interest (3,103) (845) – –
Total return for the year attributable to
Unitholders 137,000 119,683 (6,542) 17,483
Earnings per unit (cents) 21
- Basic 19.59 18.22
- Diluted 19.59 18.22
The accompanying notes form an integral part of these financial statements.
CapitaRETAIL china trust | Report to UNITHOLDERS 2012 81