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Hyprop Investments Limited
Integrated annual report and consolidated financial statements
2017
25
Five-year
review
at 30 June 2017
30 June
2017
(2)
R000
30 June
2016
(2)
R000
30 June
2015
(2)
R000
30 June
2014
(2)
R000
30 June
2013
(1)
R000
Revenue
3 167 649
3 078 221
2 703 034
2 514 779
1 099 489
Investment property income
3 128 062
2 976 420
2 642 949
2 432 459
1 008 671
Straight-line rental income accrual
39 587
101 801
60 085
45 055
15 879
Listed property securities income
37 265
74 939
Property expenses
(1 073 877)
(993 861)
(887 918)
(837 822)
(347 277)
Net property income
2 093 772
2 084 360
1 815 116
1 676 957
752 212
Other operating expenses
(78 232)
(76 593)
(64 611)
(82 480)
(27 729)
Net interest
(336 502)
(366 176)
(351 647)
(394 721)
(191 723)
Received
294 177
323 759
157 344
65 645
17 234
Paid
(630 679)
(689 935)
(508 991)
(460 366)
(208 957)
Net operating income
1 679 038
1 641 591
1 398 858
1 199 756
532 760
Change in fair value
983 372
1 217 049
2 426 584
1 532 852
1 403 721
Investment property
1 181 786
1 382 134
2 467 113
1 655 897
1 198 105
Straight-line rental income accrual
(39 587)
(101 801)
(60 085)
(45 055)
(15 879)
Financial guarantee
(163 855)
Investment in joint venture
10 102
(10 102)
Listed property securities (on disposal)
(82 266)
(2 842)
Derivative instruments
(5 074)
(53 182)
19 556
4 276
224 337
(Loss)/profit on disposal
(526)
(5 768)
190 760
28 061
Investment in subsidiary
(2 557)
(30 011)
Investment property
2 031
24 243
4 460
90
Listed property securities
168 869
27 971
Associate
17 431
Amortisation of debenture premium
102 806
49 119
Impairment of shareholder loan
(25 377)
Impairment of goodwill
(18 134)
(4 280)
(7 779)
Gain on bargain purchase (African Land)
102 895
Other income
36 931
1 009
Income before debenture interest
2 655 304
2 858 640
3 815 395
2 915 589
1 964 543
Debenture interest
(1 147 443)
(517 831)
Net income before equity-accounted investments
2 655 304
2 858 640
3 798 599
1 973 847
1 446 712
Share of loss from joint ventures
(50 380)
(41 007)
(17 447)
Share of income from associate
457
652
462
4 262
Dividends received
146 350
Profit before taxation
2 751 274
2 818 090
3 798 599
1 974 309
1 450 974
Taxation
(4 340)
(50 930)
(19 023)
(17 719)
2 239 008
Profit for the year/period
2 746 934
2 767 160
3 779 576
1 956 590
3 689 982
Non-controlling interest
20 718
(16 313)
(8 103)
Total profit for the year/period attributable to
shareholders (2013 and 2014: unitholders) of the company
2 767 652
2 750 847
3 779 576
1 948 487
3 689 982
Investment property at fair value
(3)
29 825 333
28 822 197
25 000 630
22 230 404
18 655 496
Distribution per share (2013 and 2014: combined unit) (cents)
695
620
543
472
213
(1)
Six months
(2)
12 months
(3)
Excludes investment property held-for-sale