110
Ascott Residence Trust
Annual Report 2015
Statements of Total Return
Year ended 31 December 2015
Group
Trust
Note
2015
$’000
2014
$’000
2015
$’000
2014
$’000
Gross revenue
19
421,114 357,205
35,191
36,601
Direct expenses
20
(216,544)
(177,031)
(17,086)
(16,330)
Gross profit
204,570 180,174
18,105
20,271
Finance income
21
1,603
2,123
178
78
Dividend income
–
–
64,439
70,317
Other income
438
6,341
691
913
Finance costs
21
(49,856)
(43,341)
(32,275)
(29,245)
Manager’s management fees
22
(19,820)
(17,210)
(19,820)
(17,210)
Professional fees
23
(2,249)
(2,787)
(1,066)
(1,137)
Trustee’s fees
(436)
(384)
(436)
(384)
Audit fees
(2,365)
(2,211)
(249)
(242)
Foreign exchange (loss)/gain
(4,977)
(2,505)
29,313
(2,117)
Other operating expenses
(1,014)
(1,184)
(8,053)
(11,699)
Net income before share of results
of associate
125,894 119,016
50,827
29,545
Share of results of associate (net of tax)
7
–
–
–
Net income
24
125,901 119,016
50,827
29,545
Net change in fair value of
serviced residence properties
and assets held for sale
84,318
63,030
4,241
1,650
Net change in fair value of
financial derivatives
(675)
1,291
(3,873)
1,291
Profit from divestments
25
9,924
–
–
–
Assets written off
4
(3,717)
(16,022)
–
–
Total return for the year
before income tax
215,751 167,315
51,195
32,486
Income tax (expense)/benefit
26
(36,761)
(36,943)
2
(81)
Total return for the year
178,990 130,372
51,197
32,405
Total return attributable to:
Unitholders of the Trust/perpetual
securities holders
165,183 122,468
51,197
32,405
Non-controlling interests
7
13,807
7,904
–
–
178,990 130,372
51,197
32,405
Earnings per Unit (cents)
27
Basic
9.85
7.92
2.45
2.03
Diluted
9.85
7.92
2.45
2.03
The accompanying notes form an integral part of these financial statements.
