Condensed consolidated statement of comprehensive income

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   Unaudited 
six months 
31 December 2019 
R'000 		   Unaudited 
six months 
31 December 2018 
R'000 		 Audited 
12 months 
30 June 2019 
R'000 		  
Revenue  1 594 097    1 631 673  3 217 848   
  Rental and other lease income  1 169 031    1 167 173  2 330 177   
  Straightline rental income accrual  (61 636)   (19 399) (87 887)  
  Recoveries  486 702    483 899  975 558   
Impairment of trade receivables  (11 976)   (16 781) (47 052)  
Property expenses  (603 630)   (570 888) (1 132 002)  
Net property income  978 491    1 044 004  2 038 794   
Other operating income1  13 249    12 714  27 715   
Other operating expenses1  (50 611)   (33 363) (69 315)  
Operating income  941 129    1 023 355  1 997 194   
Net interest  (262 013)   (138 861) (461 155)  
  Interest income  61 457    161 218  156 043   
  Interest expense (323 470)   (300 079) (617 198)  
Net operating income  679 116    884 494  1 536 039   
Guarantee fee income  21 142    20 425  40 542   
Dividends received  115 348    111 434  221 190   
Net income before fair value adjustments  815 606    1 016 353  1 797 771   
Changes in fair value  (928 462)   110 485  (587 083)  
  Investment property  (1 060 244)   320 334  (337 238)  
  Other investments  (23 603)   –  (12 705)  
  Loans receivable at FVTPL –    –  (105 809)  
  Financial asset  151 548    (213 364) (85 229)  
  Derivative instruments  3 837    3 515  (46 102)  
Profit on disposal of investment property  –    –  2 825   
Impairment of loans receivable  (168 891)   (1 069 991) (1 350 727)  
Other impairments  –    –  (29 964)  
Derecognition of financial guarantees  –    33 674  185 686   
(Loss)/profit before taxation  (281 747)   90 521  18 508   
Taxation  (3 933)   (10 138) 93 028   
(Loss)/profit for the period/year  (285 680)   80 383  111 536   
Other comprehensive income           
Items that may be reclassified subsequently to profit or loss (net of taxation) (7 817)   1 628  (44 094)  
  Exchange differences on translation of foreign operations (7 745)   (2 292) (46 959)  
  Exchange differences on translation of foreign operations: non-controlling interests (72)   3 920  2 865   
Total comprehensive (loss)/ income for the period/year  (293 497)   82 011  67 442   
Total profit for the period/year attributable to:           
  Shareholders of the company (279 519)   181 895  164 922   
  Non-controlling interests  (6 161)   (101 512) (53 386)  
(Loss)/profit for the period/year  (285 680)   80 383  111 536   
Total comprehensive income attributable to:           
  Shareholders of the company  (287 264)   179 603  117 963   
  Non-controlling interests  (6 233)   (97 592) (50 521)  
Total comprehensive (loss)/income for the period/year  (293 497)   82 011  67 442   
1 Reallocation of Asset management fee income from Other operating expenses to Other operating income: Asset management fees earned from related parties were previously reflected as a credit in Other operating expenses. The fees are now reflected as Other operating income. Comparative amounts have been reallocated accordingly.