96
CDL
HOSPITALITY TRUSTS
STATEMENT OF COMPREHENSIVE INCOMEOF THE HBT GROUP
STATEMENTSOFTOTALRETURNOFTHEH-REITGROUPANDTHESTAPLEDGROUP
Year ended 31 December 2014
HBT Group
H-REIT Group
Stapled Group
Note 2014
2013
2014
2013
2014
2013
$’000
$’000
$’000
$’000
$’000
$’000
Gross revenue
Gross rental revenue
–
–
151,630
148,782
145,259 148,782
Room revenue
13,532
–
–
–
13,532
–
Food & beverage revenue
4,762
–
–
–
4,762
–
Other income
3,259
–
–
–
3,259
–
17
21,553
–
151,630
148,782
166,812 148,782
Property expenses
Operations and maintenance
expenses
18(a)
(8,480)
–
–
–
(8,480)
–
Hotel management fee
(1,207)
–
–
–
(1,207)
–
Property tax
–
–
(8,553)
(8,414)
(8,553)
(8,414)
Insurance
–
–
(1,525)
(1,244)
(1,525)
(1,244)
Administrative and general
expenses
18(b)
(2,163)
–
–
–
(2,163)
–
Sales and marketing expenses 18(c)
(1,192)
–
–
–
(1,192)
–
Energy and utility expenses
(1,754)
–
–
–
(1,754)
–
Rental expenses
(6,371)
–
–
–
–
–
Other property expenses
–
–
(1,412)
(1,735)
(1,412)
(1,735)
(21,167)
–
(11,490)
(11,393)
(26,286)
(11,393)
Net property income
386
–
140,140
137,389
140,526 137,389
H-REIT Manager's base fees
19
–
–
(5,840)
(5,547)
(5,840)
(5,547)
H-REIT Manager's
performance fees
19
–
–
(7,007)
(6,859)
(7,007)
(6,859)
HBT Trustee-Manager's
performance fees
(24)
–
–
–
(24)
–
H-REIT Trustee's fees
–
–
(266)
(256)
(266)
(256)
Valuation fees
–
–
(170)
(174)
(170)
(174)
Depreciation and amortisation
–
–
–
–
(2,825)
–
Other trust expenses
20
(148)
(31)
(1,564)
(1,483)
(1,712)
(1,514)
Finance income
–
–
1,120
419
1,120
419
Finance costs
(1)
–
(17,559)
(17,057)
(17,560)
(17,057)
Net finance costs
21
(1)
–
(16,439)
(16,638)
(16,440)
(16,638)
Net income/(loss) before
revaluation
213
(31)
108,854
106,432
106,242 106,401
Net surplus on revaluation of
investment properties
–
–
17,978
36,556
17,639
36,556
Net income/(loss)
22
213
(31)
126,832
142,988
123,881 142,957
Income tax expense
23
(42)
–
(1,434)
(2,685)
(1,425)
(2,685)
Total return for the year
171
(31)
125,398
140,303
122,456 140,272
Other comprehensive income for
the year, net of tax
–
–
Total comprehensive income for
the year
171
(31)
Earnings per Stapled
Security (cents)
24
Basic
12.52
14.43
Diluted
12.52
14.43
The accompanying notes form an integral part of these financial statements.
