110
Year ended 31 December 2015
The accompanying notes form an integral part of these financial statements.
HBT Group
H-REIT Group
Stapled Group
Note
2015
2014
2015
2014
2015
2014
$’000
$’000
$’000
$’000
$’000
$’000
Gross revenue
Gross rental revenue
–
–
147,209 151,630 136,400 145,259
Room revenue
26,621
13,532
–
–
26,621
13,532
Food & beverage revenue
5,594
4,762
–
–
5,594
4,762
Other income
3,795
3,259
–
–
3,795
3,259
17
36,010
21,553 147,209 151,630 172,410 166,812
Property expenses
Operations and
maintenance expenses
18(a)
(11,635)
(8,480)
–
–
(11,635)
(8,480)
Hotel management fee
(2,022)
(1,207)
–
–
(2,022)
(1,207)
Property tax
(267)
–
(8,609)
(8,553)
(8,876)
(8,553)
Insurance
(27)
–
(1,608)
(1,525)
(1,635)
(1,525)
Administrative and
general expenses
18(b)
(4,609)
(2,163)
–
–
(4,609)
(2,163)
Sales and marketing expenses
18(c)
(1,674)
(1,192)
–
–
(1,674)
(1,192)
Energy and utility expenses
(2,021)
(1,754)
–
–
(2,021)
(1,754)
Rental expenses
(10,931)
(6,371)
–
–
(122)
–
Other property expenses
(42)
–
(2,771)
(1,412)
(2,813)
(1,412)
(33,228)
(21,167)
(12,988)
(11,490)
(35,407)
(26,286)
Net property income
2,782
386 134,221 140,140 137,003 140,526
H-REIT Manager’s base fees
19
–
–
(6,052)
(5,840)
(6,052)
(5,840)
H-REIT Manager’s
performance fees
19
–
–
(6,711)
(7,007)
(6,711)
(7,007)
H-REIT Trustee’s fees
–
–
(273)
(266)
(273)
(266)
HBT Trustee-Manager’s trustee
and management fees
(37)
(24)
–
–
(37)
(24)
HBT Trustee-Manager’s
acquisition fee
(132)
–
–
–
(132)
–
Valuation fees
–
–
(198)
(170)
(198)
(170)
Depreciation, amortisation
and impairment losses
(1,049)
–
(1,511)
–
(7,455)
(2,825)
Other trust expenses
20
(2,631)
(148)
(1,659)
(1,564)
(4,290)
(1,712)
Finance income
16
–
908
1,120
332
1,120
Finance costs
(582)
(1)
(22,636)
(17,559)
(22,626)
(17,560)
Net finance costs
21
(566)
(1)
(21,728)
(16,439)
(22,294)
(16,440)
Net (loss)/income before
fair value adjustment
(1,633)
213
96,089 108,854
89,561 106,242
Net fair value (loss)/gain
on investment properties
–
–
(38,534)
17,978
(30,221)
17,639
Net (loss)/income
22
(1,633)
213
57,555 126,832
59,340 123,881
Income tax expense
23
(222)
(42)
(629)
(1,434)
(906)
(1,425)
Total return for the year
(1,855)
171
56,926 125,398
58,434 122,456
Other comprehensive
income for the year, net of tax
–
–
Total comprehensive
income for the year
(1,855)
171
Earnings per Stapled
Security (cents)
24
Basic
5.93
12.52
Diluted
5.93
12.52
STATEMENT OF COMPREHENSIVE INCOME OF THE HBT GROUP
STATEMENTS OF TOTAL RETURNOF THE H-REIT
GROUP AND THE STAPLED GROUP
