127 / 152
FINANCIALS
125
22. Earnings per unit
Group
Trust
2017
$’000
2016
$’000
2017
$’000
2016
$’000
Earnings attributable to unitholders
100,254
163,896
81,178
114,996
Basic earnings per unit (cents)
(1)
4.60
7.51
3.72
5.27
Earnings per unit on a fully diluted basis (cents)
(1)
4.60
7.51
3.72
5.27
(1)
In computing the basic and diluted earnings per unit, the earnings attributable to unitholders and the weighted average number of units in issue of 2,181,204,435
(2016: 2,181,204,435) as at 30 June 2017 are used and have been calculated on a time-weighted basis.
23. Operating segments
Segment information is presented in respect of the Group’s portfolio of investment properties. The investment properties
are managed separately because they require different operating and marketing strategies. This primary format is based
on the Group’s internal reporting structure for the purpose of allocating resources and assessing performance by the
Group’s Chief Operating Decision Maker (“CODM”) at least on a quarterly basis. This forms the basis of identifying the
operating segments of the Group under FRS 108
Operating Segments
.
All of the Group’s reportable segments are investment properties located in Singapore, Adelaide and Perth-Australia,
Kuala Lumpur-Malaysia, and others (consisting of China Property in Chengdu and three properties (2016: four properties)
in Tokyo, Japan). The segments are as follows:
·
Wisma Atria Property
·
Ngee Ann City Property
·
Australia Properties
·
Malaysia Properties
·
Other Properties
Segment results include items directly attributable to a segment as well as those that can be allocated on a reasonable
basis. Unallocated items comprise mainly finance income, non-property expenses, finance expenses and income
tax expense.
Performance is measured based on the net property income of each operating segment, which is the gross revenue less
property operating expenses, as included in the internal management reports that are reviewed by the Group’s CODM.
Segment net property income is used to measure performance as such information is the most relevant in evaluating
the results of certain segments relative to other entities that operate within these industries. There are no transactions
between reportable segments.
Segment assets and liabilities include items directly attributable to a segment as well as those that can be allocated
on a reasonable basis. Unallocated items comprise mainly cash and cash equivalents, derivative financial instruments,
borrowings, income tax payable and deferred tax liabilities. Segment capital expenditure is the total cost incurred during
the year to acquire segment assets that are expected to be used for more than one year. Information regarding the
Group’s reportable segments is presented in the tables below.