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FINANCIAL SUMMARY
Year ended 30 June
2016
2015
2014
2013
2012
Total income
$m
150.2
144.9
127.4
109.2
101.2
Net profit
$m
310.5
210.1
149.1
110.6
69.9
(Gains)/losses in fair value of
investment properties
$m
(202.6)
(108.5)
(57.1)
(34.8)
0.6
Capital profits released fromundistributed income reserve
$m
-
-
0.8
-
6.2
Distributable profit
$m
107.9
101.6
92.8
75.8
76.7
Distribution per ordinary unit
interim cents
8.29
7.67
6.83
7.00
6.63
final cents
8.50
8.17
7.88
7.14
8.04
total cents
16.79
15.84
14.71
14.14
14.67
Tax advantaged component
%
25.44
18.27
14.69
24.26
19.36
Total assets
$m
2,200.5
2,018.0
1,837.4
1,398.7
1,335.2
Borrowings
$m
472.3
485.4
448.3
296.5
288.9
Unitholders’ equity
$m
1,645.4
1,441.8
1,311.4
1,037.2
974.0
Gearing (debt to total assets)
%
21.5
24.1
24.4
21.2
21.6
Number of units on issue
m
642
642
634
538
525
Number of unitholders
24,021
24,374
23,668
18,063
14,924
Net tangible asset backing per unit
$
2.56
2.24
2.07
1.93
1.85
Unit price at 30 June
$
3.64
3.06
2.48
2.25
1.87
Management expense ratio
1
(annualised)
%
0.64
0.65
0.64
0.62
0.58
1
Expenses other than property outgoings and borrowing costs as a percentage of average total assets
Financial performance
Distribution Per Unit (cents)
Total Income ($m)
FY12
Operating profits
FY13
FY14
FY15
FY16
16.79
Capital profits
14.67
14.14
14.71
15.84
FY12
101.2
FY13
109.2
FY14
127.4
FY15
144.9
FY16
150.2
BWP Trust Annual Report 2016
7
Business Review