C A M B R I D G E I N D U S T R I A L T R U S T
A N N U A L R E P O R T 2 0 1 5
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Group
Trust
Note
2015
2014
2015
2014
$’000
$’000
$’000
$’000
Gross revenue
12
112,244
99,342 110,248
99,342
Property expenses
13
(26,088)
(21,534)
(25,997)
(21,534)
Net property income
86,156
77,808
84,251
77,808
Management fees
14
(7,115)
(6,568)
(7,115)
(6,568)
Performance fees
14
–
(1,684)
–
(1,684)
Trust expenses
15
(2,326)
(1,431)
(2,335)
(1,432)
Interest income
149
111
149
111
Borrowing costs
16
(22,220)
(17,627)
(21,782)
(17,627)
Net income
54,644
50,609
53,168
50,608
Share of profits in jointly-controlled entity
6
123
496
–
–
Distribution income from
subsidiary/jointly-controlled entity
–
–
1,180
603
Net income after distributable income from
subsidiary/jointly-controlled entity
54,767
51,105
54,348
51,211
Gain on disposal of investment property
17
–
1,047
–
1,047
Change in fair value of financial derivatives
395
1,142
395
1,142
Change in fair value of investment properties
4
(2,645)
(7,876)
(2,381)
(7,876)
Total return before income tax
52,517
45,418
52,362
45,524
Income tax expense
18
–
(102)
–
(102)
Total return for the year
52,517
45,316
52,362
45,422
Earnings per unit (cents)
Basic and diluted
19
4.090
3.615
4.078
3.624
Distribution per unit (cents)
19
4.793
5.004
4.793
5.004
STATEMENT OF TOTAL RETURN
YEAR ENDED 31 DECEMBER 2015
The accompanying notes form an integral part of these financial statements.
