Name of entity
Appendix 4D Half Yearly Report Under ASX listing rule 4.2ACARINDALE PROPERTY TRUST (ASX: CDP)
ARSN Half year ending ('current period')
093 261 744
31 December 2016
Interim reportThe attached half-year financial report has been prepared under AASB 134. The half-year financial report should be read in conjunction with the annual financial report of Carindale Property Trust as at 30 June 2016 which was prepared based on Australian equivalents to International Financial Reporting Standards. It is also recommended that the half-year financial report be considered together with any public announcements made by Carindale Property Trust during the half-year ended 31 December 2016 in accordance with the continuous disclosure obligations under the Corporations Act 2001.
Results for announcement to the market (A$'000)31-Dec-16 | 31-Dec-15 | |||||
Property revenue | 28,426 | 28,271 | up | 0.5% | ||
Net profit attributable to members of the Trust | 29,514 | 15,330 | up | 92.5% | ||
Funds from operations | 14,070 | 13,862 | up | 1.5% | ||
Net tangible assets per security ($) | 8.15 | 7.64 | up | 6.7% | ||
Distributions | Amount per security | |||||
Interim distribution | 20.10 | cents | ||||
Previous corresponding period | 19.60 | cents | ||||
Record date for determining entitlements to the distribution. | 31 December 2016 | |||||
The distribution for the six months ended 31 December 2016 will be 20.10 cents per unit. | ||||||
This distribution is payable on 28 February 2017. | ||||||
Details of the full year components of distributions will be provided in the Annual Tax Statements which will be sent to members in September 2017. | ||||||
Commentary and analysis on the results for the current period can be found in the attached Carindale Property Trust Media Release dated 21 February 2017. This media release forms part of the Appendix 4D. | ||||||
The half-year report should be read in conjunction with the most recent annual financial report. | ||||||
The "Previous corresponding period" is 31 December 2015 unless otherwise stated. |
Carindale Property Trust | |
Half-year Report | |
For the half-year ended 31 December 2016 | |
Page | |
Statement of Comprehensive Income | 1 |
Balance Sheet | 2 |
Statement of Changes in Equity | 2 |
Cash Flow Statement | 3 |
Notes to the Financial Statements | 4 |
Directors' Declaration | 8 |
Independent Auditor's Report | 9 |
Directors' Report | 10 |
Directory | 12 |
Scentre Management Limited ABN 41 001 670 579 | |
AFS Licence 230329 as responsible entity of | |
Carindale Property Trust ARSN 093 261 744 Carindale
CARINDALE PROPERTY TRUST | ||
Statement of Comprehensive Income | ||
for the half-year ended 31 December 2016 | ||
31 Dec 16 | 31 Dec 15 | |
$'000 | $'000 | |
Revenue | ||
Property revenue | 28,426 | 28,271 |
Expenses | ||
Property expenses and outgoings | (7,152) | (7,050) |
Net property income | 21,274 | 21,221 |
Other expenses | ||
Manager's service charge | (2,511) | (2,401) |
Other costs | (197) | (179) |
(2,708) | (2,580) | |
Interest income | 24 | 29 |
Financing costs | (5,240) | (5,535) |
Net fair value gain on interest rate derivatives | 4,693 | 233 |
Property revaluation | 11,471 | 1,962 |
Net profit attributable to members of the Trust | 29,514 | 15,330 |
Total comprehensive income attributable to members of the Trust | 29,514 | 15,330 |
cents | cents | |
Basic earnings per unit | 42.16 | 21.90 |
Diluted earnings per unit | 42.16 | 21.90 |
CARINDALE PROPERTY TRUST | |||
Balance Sheet | |||
as at 31 December 2016 | |||
31 Dec 16 | 30 Jun 16 | ||
Note | $'000 | $'000 | |
Current assets | |||
Cash and cash equivalents | 1,999 | 2,107 | |
Trade and other receivables | 2,670 | 2,130 | |
Prepayments and deferred costs | 945 | 292 | |
Total current assets | 5,614 | 4,529 | |
Non current assets | |||
Investment properties | 2 | 807,571 | 792,572 |
Derivative assets | 782 | - | |
Prepayments and deferred costs | 667 | 814 | |
Total non current assets | 809,020 | 793,386 | |
Total assets | 814,634 | 797,915 | |
Current liabilities | |||
Trade and other payables | 23,512 | 22,786 | |
Derivative liabilities | 1,299 | 531 | |
Total current liabilities | 24,811 | 23,317 | |
Non current liabilities | |||
Interest bearing liabilities | 3 | 217,028 | 212,569 |
Derivative liabilities | 2,522 | 7,200 | |
Total non current liabilities | 219,550 | 219,769 | |
Total liabilities | 244,361 | 243,086 | |
Net assets | 570,273 | 554,829 | |
Equity attributable to members of the Trust | |||
Contributed equity | 187,934 | 187,934 | |
Reserves | 50 | 50 | |
Retained profits | 382,289 | 366,845 | |
Total equity attributable to members of the Trust | 570,273 | 554,829 | |
Statement of Changes in Equity | |||
for the half-year ended 31 December 2016 | |||
31 Dec 16 | 31 Dec 15 | ||
$'000 | $'000 | ||
Changes in equity attributable to members of the Trust | |||
Opening balance of contributed equity | 187,934 | 187,934 | |
Closing balance of contributed equity | 187,934 | 187,934 | |
Opening balance of reserves | 50 | 50 | |
Amount transferred from profits | - | 142 | |
Closing balance of reserves | 50 | 192 | |
Opening balance of retained profits | 366,845 | 344,909 | |
Profit attributable to members of the Trust | 29,514 | 15,330 | |
Distribution payable to members of the Trust | (14,070) | (13,720) | |
Amount transferred to other reserves | - | (142) | |
Closing balance of retained profits | 382,289 | 346,377 | |
Closing balance of equity attributable to members of the Trust | 570,273 | 534,503 |
Carindale Property Trust published this content on 21 February 2017 and is solely responsible for the information contained herein.
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