BWP TRUST ANNUAL REPORT 2015
5
FINANCIAL SUMMARY
Year ended 30 June
2015
2014
2013
2012
2011
Total income
$m 144.9
127.4
109.2
101.2
84.9
Net profit
$m 210.1
149.1
110.6
69.9
81.5
(Gains)/losses in fair value of investment properties
$m (108.5)
(57.1)
(34.8)
0.6
(25.3)
Capital profits released fromundistributed income reserve
$m
-
0.8
-
6.2
0.4
Distributable profit
$m 101.6
92.8
75.8
76.7
56.6
Distribution per ordinary unit
interim cents
7.67
6.83
7.00
6.63
6.18
final cents
8.17
7.88
7.14
8.04
5.80
total cents
15.84
14.71
14.14
14.67
11.98
Tax advantaged component
% 18.27
14.69
24.26
19.36
22.60
Total assets
$m 2,018.0 1,837.4
1,398.7
1,335.2
1,242.1
Borrowings
$m 485.4
448.3
296.5
288.9
210.8
Unitholders’ equity
$m 1,441.8 1,311.4
1,037.2
974.0
986.3
Gearing (debt to total assets)
% 24.1
24.4
21.2
21.6
17.0
Number of units on issue
m 642
634
538
525
520
Number of unitholders
24,374
23,668
18,063
14,924
13,958
Net tangible asset backing per unit
$
2.24
2.07
1.93
1.85
1.90
Unit price at 30 June
$
3.06
2.48
2.25
1.87
1.83
Management expense ratio
1
(annualised)
% 0.65
0.64
0.62
0.58
0.67
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)
FY11
Operating profits
FY12
FY13
FY14
FY15
15.84
Capital profits
11.98
14.67
14.14
14.71
FY11
84.9
FY12
101.2
FY13
109.2
FY14
127.4
FY15
144.9
BUSINESS REVIEW
