Segment analysis

for the year ended 30 June 2016

Property portfolio Statement of profit or loss and other comprehensive income Statement of financial position
Rentable
area
m2 		Total
value
R000 		Value
attributable
to
Hyprop
R000 		Revenue
R000 		Distributable
earnings
R000 		Receivables
R000 		Payables
R000 		Loans
R000
June 2016
Shopping centres 649 479 27 842 900 25 282 472 2 413 365 1 633 312 74 083 245 517
Value centres 47 785 1 109 000 1 109 000 129 153 96 124 4 110 10 253
Total retail 697 264 28 951 900 26 391 472 2 542 518 1 729 436 78 193 255 770
Standalone offices 4 468 108 300 108 300 11 545 6 694 390 1 261
Held-for-sale(1) 85 024 1 230 775 1 230 775 190 630 112 021 9 471 27 868
Investment property 786 756 30 290 975 27 730 547 2 744 693 1 848 151 88 054 284 899
Investments in sub-Saharan Africa (excluding South Africa) 5 638 040 211 058 83 654 88 419 156 803 5 293 643
Investments in South-Eastern Europe 31 944
Other South African subsidiaries 20 669 1 000 3 853 4 129
Fund management (64 922) 7 938 108 440 4 632 445
Net interest (394 310)
Straight-line rental income accrual 101 801
Antecedent dividend 16 704
Investment property – group 786 756 30 290 975 33 368 587 3 078 221 1 522 221 188 264 554 271 9 926 088
Reconciliation to statement of financial position
Centre management assets 6 465
Held-for-sale(2) 12 816 (9 471) (27 868)
Investment in associate 766
Loan receivable 14 732
Goodwill 18 134
Derivative instruments 49 309
Other current assets 378 151
  33 848 960 3 078 221 1 522 221 178 793 526 403 9 926 088
June 2015                
Shopping centres 642 977 26 244 000 23 790 630 2 219 988 1 500 388 67 234 244 454  
Value centres 47 785 1 112 000 1 112 000 120 286 89 544 5 469 10 338  
Total retail 690 762 27 356 000 24 902 630 2 340 274 1 589 932 72 703 254 792  
Standalone offices 4 510 98 000 98 000 10 563 6 209 428 971  
Held-for-sale(1) 84 800 1 225 775 1 225 775 177 093 104 758 6 504 21 567  
Sold during 2015       89 212 51 288      
Investment property 780 072 28 679 775 26 226 405 2 617 142 1 752 187 79 635 277 330  
Investments in sub-Saharan Africa (excluding South Africa)     2 339 121   42 368 36 9 122  
Investments in South African subsidiaries       25 807 4 243 8 806 8 964  
Fund management         (62 001) 5 179 104 068 6 691 909
Net interest         (417 178)      
Straight-line rental income accrual       60 085        
Investment property – group 780 072 28 679 775 28 565 526 2 703 034 1 319 619 93 656 399 484 6 691 909
Reconciliation to statement of financial position                
Centre management assets     2 274          
Held-for-sale(2)     9 287     (6 504) (21 567)  
Investment in associate     827          
Derivative instruments     53 132          
Other current assets     224 750          
      28 855 796 2 703 034 1 319 619 87 152 377 917 6 691 909
(1) Willowbridge, Somerset Value Mart, Lakefield Office Park, Glenwood Office Park and Glenfield Office Park
(2) Working capital held-for-sale 		Note   11 20 17
         

 

Reconciliation to statement of profit or loss and other comprehensive income
A reconciliation of distributable earnings to net income after taxation is as follows:      
  GROUP   
June 2016   
R000   		   GROUP 
June 2015 
R000 
Distributable earnings 1 522 221(1)   1 319 619 
Adjusted for:      
Antecedent dividend (refer to note 37.3 – Issue of shares and antecedent dividend) (16 704)      
Change in fair value of investment property 1 382 134      2 467 113 
Change in fair value of derivatives (53 182)     19 556 
Profit on disposal of investment property     24 243 
Loss on disposal of investments     (30 011)
Change in fair value of joint venture (10 102)     (4 280)
Investments in sub-Saharan Africa (excluding SA) 35 487      (8 444)
Investments in South African subsidiaries (1 560)     11 424 
Investments in South-Eastern Europe (24 572)      
Capital items not included for distribution purposes (15 632)     (621)
Taxation (50 930)     (19 023)
Net income after taxation 2 767 160     3 779 576 
Shares in issue for distribution per share (excludes treasury shares) 248 030 619      242 990 433 
Refer to financial director’s report      
Distribution per share (based on distributable earnings) 619,9      543,0  
(1) This amount differs to the actual dividend disclosed due to rounding of the dividend per share. Refer to note 27 – Dividends