Statements of comprehensive income
FOR THE SIX MONTHS ENDED 30 JUNE 2013
| |
|
|
GROUP |
|
GROUP |
|
COMPANY |
|
COMPANY |
|
| |
NOTE |
|
JUNE 2013
R000 |
|
DECEMBER 2012
R000 |
|
JUNE 2013
R000 |
|
DECEMBER 2012
R000 |
|
| Revenue |
|
|
1 099 489 |
|
2 177 625 |
|
1 093 916 |
|
2 156 203 |
|
| Investment property income |
|
|
1 008 671 |
|
2 016 184 |
|
1 003 098 |
|
1 994 763 |
|
| Straight-line rental income accrual |
|
|
15 879 |
|
9 208 |
|
15 879 |
|
9 208 |
|
| Listed property securities income |
|
|
74 939 |
|
152 233 |
|
74 939 |
|
152 232 |
|
| Property expenses |
|
|
(347 277) |
|
(714 284) |
|
(342 898) |
|
(695 581) |
|
| Net property income |
|
|
752 212 |
|
1 463 341 |
|
751 018 |
|
1 460 622 |
|
| Other operating expenses |
|
|
(27 729) |
|
(53 885) |
|
(27 652) |
|
(53 550) |
|
| Operating income |
|
|
724 483 |
|
1 409 456 |
|
723 366 |
|
1 407 072 |
|
| Net interest |
|
|
(191 723) |
|
(404 827) |
|
(195 589) |
|
(405 135) |
|
| Received |
|
|
17 234 |
|
22 180 |
|
9 674 |
|
21 530 |
|
| Paid |
|
|
(208 957) |
|
(427 007) |
|
(205 263) |
|
(426 665) |
|
 |
|
|
|
|
|
|
|
|
|
|
| Net operating income |
|
|
532 760 |
|
1 004 629 |
|
527 777 |
|
1 001 937 |
|
| Change in fair value |
|
|
1 403 721 |
|
1 273 905 |
|
1 403 721 |
|
1 273 905 |
|
| Investment property |
|
|
1 198 105 |
|
1 137 924 |
|
1 198 105 |
|
1 137 924 |
|
| Straight-line rental income accrual |
|
|
(15 879) |
|
(9 208) |
|
(15 879) |
|
(9 208) |
|
| Listed property securities |
|
|
(2 842) |
|
315 259 |
|
(2 842) |
|
315 259 |
|
| Derivative instruments |
|
|
224 337 |
|
(170 070) |
|
224 337 |
|
(170 070) |
|
| Profit/(Loss) on disposal |
|
|
28 061 |
|
(15 221) |
|
28 061 |
|
(15 221) |
|
| Investment property |
|
|
90 |
|
(11 886) |
|
90 |
|
(11 886) |
|
| Listed property securities |
|
|
|
|
(3 335) |
|
|
|
(3 335) |
|
| Sycom rights offer nil paid letters |
|
|
27 971 |
|
|
|
27 971 |
|
|
|
| Amortisation of debenture premium |
|
|
49 119 |
|
487 925 |
|
49 119 |
|
487 925 |
|
| Impairment of loan to subsidiary |
|
|
|
|
|
|
|
|
(67 285) |
|
| Non-core income |
|
|
1 009 |
|
|
|
1 009 |
|
|
|
| Income before debenture interest and taxation |
|
|
2 014 670 |
|
2 751 238 |
|
2 009 687 |
|
2 681 261 |
|
| Debenture interest |
|
|
(517 831) |
|
(994 333) |
|
(517 831) |
|
(994 333) |
|
| Net income before share of income from associate |
|
|
1 496 839 |
|
1 756 905 |
|
1 491 856 |
|
1 686 928 |
|
| Share of income from associate |
|
|
4 262 |
|
144 |
|
|
|
|
|
| Dividends received |
|
|
|
|
|
|
2 134 |
|
|
|
| Net income before taxation |
|
|
1 501 101 |
|
1 757 049 |
|
1 493 990 |
|
1 686 928 |
|
| Taxation |
|
|
2 239 008 |
|
(753 169) |
|
2 240 894 |
|
(750 709) |
|
| Current taxation |
|
|
(1 927) |
|
(601) |
|
|
|
|
|
| Capital gains taxation |
|
|
|
|
(1 443) |
|
|
|
|
|
| Deferred taxation |
|
|
2 240 935 |
|
(751 125) |
|
2 240 894 |
|
(750 709) |
|
|
|
|
|
|
|
|
|
|
|
|
| Profit for the year |
|
|
3 740 109 |
|
1 003 880 |
|
3 734 884 |
|
936 219 |
|
| Other comprehensive income: |
|
|
|
|
|
|
|
|
|
|
| Items that may be reclassified subsequently to profit or loss - |
|
|
|
|
|
|
|
|
|
|
| Exchange differences on translation of foreign operations |
|
|
319 |
|
(6) |
|
|
|
|
|
| Total comprehensive income for the year |
|
|
3 740 428 |
|
1 003 874 |
|
3 734 884 |
|
936 219 |
|
| Basic and diluted earnings per combined unit (cents) |
|
|
1 751,4 |
|
821,9 |
|
|
|
|
|
| Basic and diluted headline earnings per combined unit (cents) |
|
|
395,5 |
|
445,2 |
|
|
|
|
|
| Distributable earnings per combined unit (cents) |
|
|
212,8 |
|
409,8 |
|
|
|
|
|
|
