DEXUS DEXUS Diversified Trust1 | |||
30 June 2016 | 30 June 2015 | % | |
$m | $m | Change | |
Revenue from ordinary activities | 865.5 | 858.9 | 0.8% |
Net profit attributable to security holders after tax | 1,259.8 | 618.7 | 103.6% |
Funds from operations (FFO)2 | 610.8 | 544.5 | 12.2% |
Underlying FFO3 | 547.5 | 501.9 | 9.1% |
Distribution to security holders | 421.1 | 385.6 | 9.2% |
CPS | CPS | ||
FFO per security2 | 63.1 | 59.5 | 6.0% |
Distributions per security for the period ending: | |||
31 December | 23.05 | 19.68 | 17.1% |
30 June | 20.46 | 21.36 | -4.2% |
Total distributions4 | 43.51 | 41.04 | 6.0% |
Payout ratio (distributions as a % of FFO) | 69.0% | 69.0% | - |
Basic and diluted earnings per security | 130.06 | 67.58 | 92.5% |
Franked distribution amount per security | 2.58 | - | - |
$m | $m | ||
Total assets | 11,782.8 | 10,025.6 | 17.5% |
Total borrowings | 3,686.8 | 2,774.0 | 32.9% |
Security holders equity | 7,596.3 | 6,777.3 | 12.1% |
Market capitalisation | 8,730.9 | 7,086.9 | 23.2% |
$ per security | $ per security | ||
Net tangible assets | 7.53 | 6.68 | 12.7% |
Securities price | 9.02 | 7.30 | 23.6% |
Securities on issue | 967,947,692 | 970,806,349 | |
Record date | 30 Jun 2016 | 30 Jun 2015 | |
Payment date | 31 Aug 2016 | 31 Aug 2015 | |
Refer to the attached ASX release for a commentary on the results of DEXUS Property Group.
Details of joint ventures and associatesOwnership Interest | Share of net profit after tax | |||
30 June 2016 | 30 June 2015 | 12 months ended 30 June 2016 | 12 months ended 30 June 2015 | |
Name of entity | % | % | $m | $m |
Bent Street Trust | 33.3 | 33.3 | 60.3 | 29.2 |
DEXUS Creek Street Trust | 50.0 | 50.0 | 12.8 | 1.7 |
DEXUS Martin Place Trust | 50.0 | 50.0 | 27.1 | 13.4 |
Grosvenor Place Holding Trust | 50.0 | 50.0 | 51.7 | 14.7 |
Site 6 Homebush Bay Trust | 50.0 | 50.0 | (3.8) | 2.5 |
Site 7 Homebush Bay Trust | 50.0 | 50.0 | (2.9) | 2.8 |
DEXUS 480 Q Holding Trust | 50.0 | 50.0 | 68.9 | 7.0 |
DEXUS Kings Square Trust | 50.0 | 50.0 | 11.0 | 2.4 |
DEXUS Office Trust Australia | 50.0 | 50.0 | 287.3 | 182.6 |
DEXUS Industrial Trust Australia | 50.0 | 50.0 | 5.9 | (4.2) |
DEXUS Eagle Street Pier Trust | 50.0 | 50.0 | 7.2 | - |
As announced on 13 December 2010, the DRP has been suspended until further notice. As a consequence, the DRP will not operate for this distribution payment.
For the purposes of statutory reporting, the stapled entity, known as DXS, must be accounted for as a consolidated group. Accordingly, one of the stapled entities must be the "deemed acquirer" of all other entities in the group. DEXUS Diversified Trust has been chosen as the deemed acquirer of the balance of the DXS stapled entities, comprising DEXUS Industrial Trust, DEXUS Office Trust and DEXUS Operations Trust.
The Directors consider the Property Council of Australia definition of FFO to be a measure that reflects the underlying performance of the Group. FFO comprises net profit/loss after tax attributable to stapled security holders calculated in accordance with Australian Accounting Standards and adjusted for: property revaluations, impairments, derivative and FX mark to market impacts, fair value movements of interest bearing liabilities, amortisation of tenant incentives, gain/loss on sale of certain assets, straight line rent adjustments, deferred tax expense/benefit, transaction costs, amortisation of intangible assets, rental guarantees and coupon income.
Underlying FFO excludes trading profits (net of tax).
The distribution for the period 1 July 2015 to 30 June 2016 is the aggregate of the distributions from DEXUS Diversified Trust, DEXUS Office Trust, DEXUS Operations Trust and DEXUS Industrial Trust. The Annual Tax Statement will provide details of the components of DXS's distributions.
2
DEXUS Property Group
(ARSN 089 324 541)Financial Report 30 June 2016
Contents PageOperating and Financial Review 1
Auditor's Independence Declaration 42
Consolidated Statement of Comprehensive Income 43
Consolidated Statement of Financial Position 44
Consolidated Statement of Changes in Equity 45
Consolidated Statement of Cash Flows 46
Notes to the Financial Statements 50
Directors' Declaration 97
Independent Auditor's Report 98
DEXUS Property Group (DXS) (ASX Code: DXS) consists of DEXUS Diversified Trust (DDF) (ARSN 089 324 541), DEXUS Industrial Trust (DIT), DEXUS Office Trust (DOT) and DEXUS Operations Trust (DXO), collectively known as DXS or the Group.
The registered office of the Group is Level 25, Australia Square, 264-278 George Street, Sydney, NSW 2000.
Under Australian Accounting Standards, DDF has been deemed the parent entity for accounting purposes. Therefore the DDF consolidated Financial Statements include all entities forming part of DXS.
All ASX and media releases, Financial Statements and other information are available on our website: www.dexus.com
DEXUS Property Group published this content on 17 August 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 16 August 2016 22:45:02 UTC.
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