Summarised consolidated statement of profit or loss

for the year ended 31 March 2019

  Download (EXCEL)

 

 

GROUP   2019 
R000 
    2018 
R000 
   
Property revenue  2 806 484     2 014 966    
Straight-line rental income accrual  28 506     5 401    
Gross property revenue  2 834 990     2 020 367    
Property expenses  (932 183)    (705 891)   
Net profit from property operations  1 902 807     1 314 476    
Corporate and administrative expenses  (199 371)    (127 474)   
Total investment and other income  344 815     323 255    
Investment and other income  134 083     150 813    
Finance income  47 658     78 566    
Net interest from cross-currency interest rate swaps  163 074     93 876    
Fair value movement on non-designated portion of cross-currency interest rate swaps  47 603     —    
Operating profit before finance costs  2 095 854     1 510 257    
Finance costs  (509 749)    (367 808)   
Operating profit after finance costs  1 586 105     1 142 449    
(Loss)/profit on sale of investment properties  (6 368)    13 405    
(Loss)/profit on sale of furniture and equipment  (18)    144    
Fair value loss on associates at fair value (87 908)    (16 411)   
Fair value movement of derivative financial instruments  (1 581)    7 408    
Cost of terminating derivative financial instrument  —     (3 250)   
Executive share scheme financial asset – current period loss  (28 946)    —    
Foreign exchange (loss)/profit  (65 912)    59 936    
Restructuring fee on associate  (815)    —    
Impairment of goodwill  (48 218)    —    
Loss on sale of listed property securities  —     (26 240)   
Fair value loss on net settled derivatives  (208 104)    —    
Profit before changes in fair value of investment property  1 138 235     1 177 441    
Fair value adjustments  775 076     1 149 988    
Gross change in fair value of investment properties  803 582     1 155 389    
Straight-line rental income adjustment  (28 506)    (5 401)   
Profit before equity-accounted investment  1 913 311     2 327 429    
Share of income from associate  53 585     95 485    
Profit before taxation  1 966 896     2 422 914    
Taxation  (18 427)    (10 668)   
Profit for the year  1 948 469     2 412 246    
Attributable to owners of the parent  1 709 426     2 401 943    
Attributable to non-controlling interest  239 043     10 303    
Other comprehensive income             
Items that will be reclassified to profit or loss             
Foreign currency translation reserve  36 348     (69 047)   
Foreign currency translation reserve: associates  140 220     (7 826)   
Foreign currency translation reserve: subsidiaries  (103 872)    (61 221)   
Cash flow hedges  (24 825)    (60 202)   
Deferred tax on hedging instruments  (34 720)    —    
Executive share scheme financial assets – prior year losses  —     (17 610)   
Other comprehensive loss for the year  (23 197)    (146 859)   
Total comprehensive income for the year  1 925 272     2 265 387    
Attributable to owners of the parent  1 604 158     2 254 319    
Attributable to non-controlling interest  321 114     11 068    
Number of shares in issue at basic and diluted earnings per share (cents) 199.05     320.65    
Number of shares in issue at 31 March  920 962 145     784 766 367    
Weighted average number of shares in issue  858 774 136     749 084 702    

SUMMARISED CONSOLIDATED RESULTS
for the year ended 31 March 2019 and change to the board of directors

Back to top