Group
Trust
2014
2013
2014
2013
$’000
$’000
$’000
$’000
Total return after income tax, before distribution for the year
45,316 118,884
45,422 105,526
Add/(less): Distribution adjustments (Note A)
12,298 (75,408)
12,192 (62,050)
Net income available for distribution to Unitholders
57,614 43,476
57,614 43,476
Distribution from capital (Note B)
1,925
13,869
1,925
13,869
Distribution from capital gains (Note B)
3,496
3,941
3,496
3,941
Total amount available for distribution
63,035
61,286
63,035
61,286
Less: Distributions (Note C)
(47,105)
(45,778)
(47,105)
(45,778)
Net amount available for distribution to Unitholders
as at 31 December
15,930
15,508
15,930
15,508
Note A – Distribution Adjustments
Group
Trust
2014
2013
2014
2013
$’000
$’000
$’000
$’000
Non-tax deductible items and other adjustments:
Management fees payable in units
2,358
–
2,358
–
Trustee’s fees
364
359
364
359
Transaction costs relating to debt facilities
4,081
9,118
4,081
9,118
Change in fair value of investment properties and
investment properties under development
7,876 (33,856)
7,876 (33,856)
Change in fair value of financial derivatives
(1,142)
(2,084)
(1,142)
(2,084)
Legal and professional fees
(57)
855
(57)
855
Adjustment for straight line rent
(1,751)
(1,556)
(1,751)
(1,556)
Share of profits in jointly-controlled entity
(496)
(13,951)
–
–
Distribution income from jointly-controlled entity
603
594
–
–
Miscellaneous expenses
312
95
313
96
Allowance for doubtful debts
1,197
–
1,197
–
13,345
(40,426)
13,239 (27,068)
Income not subject to tax:
Gain on disposal of investment properties
(1,047)
(34,982)
(1,047)
(34,982)
Net effect of distribution adjustments
12,298 (75,408)
12,192 (62,050)
DISTRIBUTION STATEMENT
YEAR ENDED 31 DECEMBER 2014
The accompanying notes form an integral part of these financial statements.
CAMBRIDGE INDUSTRIAL TRUST | A WINNING FORMULA
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