MIRVAC gRoup AnnuAl RepoRt 2012 - Mirvac - Mirvac Group

ConsolIDAteD stAteMent of CoMpReHensIVe InCoMe
For the year ended 30 June 2012
40 mirvac group annual report 2012
2012 2011
Note $m $m
Revenue from continuing operations
Investment properties rental revenue 558.7 545.7
Investment management fee revenue 11.8 15.8
Development and construction revenue 4 918.4 958.1
Development management fee revenue 19.3 21.8
Interest revenue 4 25.2 45.1
Dividend and distribution revenue 1.2 0.3
other revenue 13.0 18.3
total revenue from continuing operations 1,547.6 1,605.1
other income
Net gain on fair value of investment properties and
owner-occupied hotel management lots and freehold hotels 16 148.7 111.6
Share of net profit of associates and joint ventures accounted for using the equity method 14 13.4 38.1
Gain on financial instruments 4 38.8 13.2
Net gain on sale of investments — 2.5
Net gain on sale of investment properties 3.4 —
Foreign exchange gain — 110.8
total other income 204.3 276.2
total revenue from continuing operations and other income 1,751.9 1,881.3
Net loss on fair value of IPuC 16 15.8 58.6
Net loss on sale of investments 2.6 —
Net loss on sale of investment properties — 1.2
Net loss on sale of property, plant and equipment 0.4 0.3
Foreign exchange loss 22.2 —
Investment properties expenses 126.6 124.5
hotel operating expenses — 0.8
Cost of property development and construction 804.7 846.6
employee benefits expenses 94.3 95.1
Depreciation and amortisation expenses 5 34.2 25.7
Impairment of loans 5 6.0 7.8
Finance costs 5 129.2 126.2
Loss on financial instruments 5 98.6 116.3
Selling and marketing expenses 28.7 26.4
Provision for loss on inventories 5 25.0 295.8
Business combination transaction costs — 31.8
other expenses 47.2 60.6
profit from continuing operations before income tax 316.4 63.6
Income tax benefit 6 68.1 106.5
Profit from continuing operations 384.5 170.1
Profit from discontinued operations (net of tax) 13 31.6 12.5
Profit for the year 416.1 182.6
The comparative figures have been adjusted to reflect the creation of a disposal group in relation to the hotels operations,
the results of which are disclosed as discontinued operations. Refer to note 13 for further information.