32 OPERATING SEGMENTS
(continued)
Information about reportable segments
Geographical segments
The Group’s business is investing in serviced residences and rental housing properties.
Singapore Australia Belgium China France Germany Indonesia Subtotal
$’000 $’000 $’000 $’000 $’000 $’000
$’000 $’000
Year ended
31 December 2014
Gross rental income
36,060 5,923 11,981 51,916 36,464 8,775 14,858 165,977
Other income
129
(1)
83
922 3,930 2,493 1,048
1,010 9,615
Gross revenue
36,189 6,006 12,903 55,846 38,957 9,823 15,868 175,592
Direct expenses
(16,392)
(3,502) (9,778) (39,959) (2,777)
(1,210)
(10,153) (83,771)
Segment gross profit
19,797 2,504 3,125 15,887 36,180 8,613
5,715 91,821
Change in fair value of
serviced residence
properties and
assets held for sale
1,650 (11,415) 10,381 18,893 6,361 3,619
2,948 32,437
Japan Malaysia Philippines Spain
United
Kingdom Vietnam Subtotal
Total
$’000 $’000
$’000 $’000 $’000 $’000 $’000 $’000
Year ended
31 December 2014
Gross rental income
42,451 3,197
27,283 6,900 55,388 34,863 170,082 336,059
Other income
3,447
31
2,957 792
(2)
1,252 3,052
(1)
11,531 21,146
Gross revenue
45,898 3,228
30,240 7,692 56,640 37,915 181,613 357,205
Direct expenses
(17,782) (2,140)
(19,855) (4,468) (31,408) (17,607) (93,260) (177,031)
Segment gross profit
28,116 1,088
10,385 3,224 25,232 20,308 88,353 180,174
Change in fair value of
serviced residence
properties and
assets held for sale
9,483 (3,066)
(636) 1,545 23,792
(525) 30,593 63,030
Finance income
2,123
Finance costs
(43,341)
Unallocated net
expense
(34,671)
Reportable segment profit before income tax
167,315
Income tax expense
(36,943)
Total return for the
year
130,372
(1)
Included in the gross revenue for Vietnam is an amount of $412,000 relating to yield protection income received by the Trust, allocated
from Singapore.
(2)
Included in the gross revenue is an amount of $431,000 for Spain relating to the shortfall in net operating profit guarantee amount.
Pursuing Growth | 187
