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NOTES TO THE FINANCIAL STATEMENTS
continued
for the year ended 30 June 2016
Hyprop Investments Limited
Group annual financial statements 2016
134
23.
Net operating income
GROUP
June 2016
R000
GROUP
June 2015
R000
Net operating income is stated after accounting for the following:
Contingent rental income (turnover rental)
51 566
50 459
Depreciation
24 738
20 054
Small asset write offs
66
82
Employee remuneration
118 501
118 312
Share-based payments (CUP) (
Refer to note 25 – Employee remuneration
)
9 919
6 707
Forex gains
144
7 804
Property expenses in the statement of profit or loss and other comprehensive income comprise
the following:
Total property expenses
993 861
887 918
Municipal expenses
586 524
550 945
Salaries and staff-related expenses
82 896
87 464
Security expenses
47 831
47 797
Cleaning expenses
39 272
39 022
Marketing expenses
38 974
28 003
Maintenance costs
23 764
16 623
Diesel costs
22 457
2 489
Parking expenses
19 259
17 911
Air-conditioning expenses
16 801
12 548
Other operating expenses
116 083
85 116
Directors’ remuneration
Independent non-executive
2 399
2 117
Ethan Dube (paid to Vunani Capital Proprietary Limited)
334
284
Lindie Engelbrecht
535
471
Gavin Tipper
562
490
Louis van der Watt (paid to Atterbury Property Holdings Limited)*
233
235
Mike Lewin
334
284
Thabo Mokgatlha
401
353
Non-executive
1 040
847
Kevin Ellerine
314
252
Louis Norval
306
245
Stewart Shaw-Taylor
420
350
Executive
15 983
13 685
Pieter Prinsloo (Chief executive officer)
11 131
9 699
Basic salary
3 672
3 464
Pension fund contributions
173
141
Performance bonus (paid in December)
3 710
2 625
Other benefits
122
33
Incentive scheme
3 454
3 436
Laurence Cohen (FD)
4 852
3 986
Basic salary
2 089
1 958
Pension fund contributions
362
296
Performance bonus (paid in December)
2 332
1 650
Other benefits
69
82
* Independent non-executive director Louis van der Watt resigned from the board on 4 May 2016