Summarised consolidated
results for the year ended
31 March 2022
Summarised consolidated
results for the year ended
31 March 2022
| Group | 31 March 2022 Rm |
31 March 2021 Rm |
|
| Property revenue | 3 485 | 3 117 | |
|---|---|---|---|
| Straight-line rental income accrual | (10) | (67) | |
| Gross property revenue | 3 475 | 3 050 | |
| Property expenses | (1 238) | (1 203) | |
| Expected credit loss (ECL): tenant receivables | (24) | (51) | |
| Net profit from property operations | 2 213 | 1 796 | |
| Corporate and administrative expenses | (296) | (286) | |
| Total investment and other income | 393 | 318 | |
| Fair value movement on non-designated portion of CCIRS | (59) | (32) | |
| Profit before finance costs | 2 251 | 1 796 | |
| Finance costs | (809) | (707) | |
| Profit after finance costs | 1 442 | 1 089 | |
| Loss on disposals and acquisitions | (36) | (30) | |
| Loss on realisation of derivative | (59) | – | |
| Fair value (loss)/gain on financial instruments | 3 | 233 | |
| Impairments | 1 | (13) | |
| Foreign exchange gain on GBP loans | – | 9 | |
| Profit before changes in fair value of investment property | 1 351 | 1 288 | |
| Fair value adjustments: | 652 | (847) | |
| Gross change in fair value of investment property | 637 | (920) | |
| Change in fair value of right-of-use asset | 5 | 6 | |
| Straight-line rental income adjustment | 10 | 67 | |
| Profit before equity-accounted investment | 2 003 | 441 | |
| Share of income from associate | 27 | 18 | |
| Share of loss from joint venture | (4) | (1) | |
| Profit before taxation | 2 026 | 458 | |
| Taxation | (34) | (40) | |
| Profit for the year | 1 992 | 418 | |
| Attributable to owners of the parent | 1 909 | 584 | |
| Attributable to non-controlling interest | 83 | (166) | |