Page 55 - Forterra

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CONSOLIDATED
INCOME STATEMENT
YEAR ENDED 31 DECEMBER 2012
Note 2012 2011
$’000 $’000
Gross rental income 18 98,985 92,735
Other income 134 509
Gross revenue 99,119 93,244
Business and property-related taxes (12,545) (11,755)
Property management fees (3,386) (3,052)
Other property operating expenses (24,357) (20,365)
Total property operating expenses (40,288) (35,172)
Net property income 58,831 58,072
Trustee-Manager’s fees 19 (16,316) (15,028)
Administrative expenses 20 (11,708) (9,177)
Finance income 21 205 632
Finance costs 22 (54,587) (44,313)
Net foreign exchange gain/(loss) 30,666 (4,674)
Changes in fair value of investment properties 4 70,381 312,461
Changes in fair value of financial derivatives (1,084) 360
Profit before tax 23 76,388 298,333
Income tax expense 24
– Current tax (2,110) (2,066)
– Deferred tax (27,611) (86,911)
Profit for the year 46,667 209,356
Profit attributable to
Unitholders of the Trust 42,417 136,061
Non-controlling interests 4,250 73,295
Profit for the year 46,667 209,356
Earnings per unit attributable to Unitholders of the Trust 26
Basic (cents) 16.7 53.4
Diluted (cents) 16.6 50.1
The accompanying notes form an integral part of these financial statements.