Page 88 - ar2013

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CapitaRetail China
Annual Report 2013
Clarity
86
Statements of
Total Return
Year ended 31 December 2013
The accompanying notes form an integral part of these financial statements.
Group
Trust
2013
2012
2013
2012
Note
$’000
$’000
$’000
$’000
Gross rental income
149,083 141,464
–
–
Other income
10,992
11,074
–
–
Gross revenue
160,075 152,538
–
–
Land rental
(5,238)
(5,355)
–
–
Property related tax
(8,938)
(8,960)
–
–
Business tax
(9,009)
(8,737)
–
–
Property management fees & reimbursables
(8,028)
(6,256)
–
–
Other property operating expenses
16
(25,824)
(23,554)
–
–
Total property operating expenses
(57,037)
(52,862)
–
–
Net property income
103,038
99,676
–
–
Manager’s management fees
– Base fee
17
(4,283)
(3,889)
(4,283)
(3,889)
– Performance fee
17
(4,122)
(3,987)
(4,122)
(3,987)
Manager’s acquisition fee
–
–
(3,562)
–
Trustee’s fees
(302)
(287)
(302)
(287)
Valuation fees
(278)
(191)
–
–
Other trust operating (expenses)/income
18
(833)
(971)
110
(415)
Dividend income
–
–
17,396
16,232
Foreign exchange gain - realised
746
6,608
620
310
Finance income
1,133
842
24,210
11,413
Finance costs
(11,329)
(11,661)
(9,784)
(9,857)
Net finance (costs)/income
19
(10,196)
(10,819)
14,426
1,556
Total return before change in fair value
of financial derivatives, investment
properties and unrealised foreign
exchange gain
83,770
86,140
20,283
9,520
Change in fair value of financial derivatives
1,423
–
(20,148)
11,764
Change in fair value of investment properties
4
99,159 102,978
–
–
Foreign exchange gain/(loss) - unrealised
101
1,743
13,922
(27,826)
Total return for the year before taxation
184,453 190,861
14,057
(6,542)
Taxation
20
(48,505)
(50,758)
(20)
–
Total return for the year after taxation
135,948 140,103
14,037
(6,542)
Non–controlling interest
(3,030)
(3,103)
–
–
Total return for the year
attributable to Unitholders
132,918 137,000
14,037
(6,542)
Earnings per unit (cents)
21
– Basic
17.52
19.52
1
– Diluted
17.52
19.52
1
1
The figures have been restated for the effect of the underwritten non-renounceable 6-for-100 preferential offering that was completed on 20 November 2013
with 45,413,704 Units issued.