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
2015
2014
2015
2014
$’000
$’000
$’000
$’000
Total return after income tax, before distribution for the year
52,517
45,316
52,362
45,422
Add: Distribution adjustments (Note A)
7,203
12,298
7,358
12,192
Net income available for distribution to Unitholders
59,720
57,614
59,720
57,614
Distribution from capital (Note B)
2,093
1,925
2,093
1,925
Distribution from capital gains (Note B)
–
3,496
–
3,496
Total amount available for distribution
61,813
63,035
61,813
63,035
Less: Distributions (Note C)
(47,014)
(47,105)
(47,014)
(47,105)
Net amount available for distribution to Unitholders
as at 31 December
14,799
15,930
14,799
15,930
Note A – Distribution Adjustments
Group
Trust
2015
2014
2015
2014
$’000
$’000
$’000
$’000
Non-tax deductible items and other adjustments:
Management fees payable in units
2,665
2,358
2,665
2,358
Acquisition fees paid in units
60
–
60
–
Trustee’s fees
385
364
385
364
Transaction costs relating to debt facilities
3,984
4,081
3,899
4,081
Change in fair value of investment properties
2,645
7,876
2,381
7,876
Change in fair value of financial derivatives
(395)
(1,142)
(395)
(1,142)
Legal and professional fees
580
(57)
555
(57)
Adjustment for straight line rent and lease incentives
(2,830)
(1,751)
(2,266)
(1,751)
Share of profits in jointly-controlled entity
(123)
(496)
–
–
Distribution income from jointly-controlled entity
156
603
–
–
Allowance for doubtful debts
175
1,197
175
1,197
Miscellaneous (income)/expenses
(99)
312
(101)
313
7,203
13,345
7,358
13,239
Income not subject to tax:
Gain on disposal of investment property
–
(1,047)
–
(1,047)
Net effect of distribution adjustments
7,203
12,298
7,358
12,192
DISTRIBUTION STATEMENT
YEAR ENDED 31 DECEMBER 2015
The accompanying notes form an integral part of these financial statements.
