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Consolidated statement of profit or lossfor 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  233 
Impairments  (13)
Foreign exchange gain on GBP loans  – 
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 
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)