INTERIM REPORT - The Link REIT

FIVE YEAR PERFORMANCE SUMMARYFINANCIAL DATASix monthsended30 September2011(Unaudited)HK$’MSix monthsended30 September2010(Unaudited)HK$’M(Restated)Six monthsended30 September2009(Unaudited)HK$’M(Restated)Six monthsended30 September2008(Unaudited)HK$’M(Restated)Six monthsended30 September2007(Unaudited)HK$’M(Restated)Condensed consolidated income statementRevenues 2,887 2,621 2,438 2,203 2,056Property operating expenses (846) (856) (821) (854) (813)Net property income 2,041 1,765 1,617 1,349 1,243General and administrative expenses (147) (80) (50) (56) (47)Change in fair values of investment properties 3,272 3,259 3,946 (464) 2,655Operating profit 5,166 4,944 5,513 829 3,851Interest income 11 1 4 24 39Finance costs on interest bearing liabilities (197) (271) (266) (253) (310)Profit before taxation and transactions withUnitholders 4,980 4,674 5,251 600 3,580Taxation (288) (236) (220) (145) (137)Profit for the period, before transactions withUnitholders 4,692 4,438 5,031 455 3,443Distributions paid to Unitholders (1,286) (1,079) (935) (826) (739)3,406 3,359 4,096 (371) 2,704Represented by:Change in net assets attributable toUnitholders, excluding issues of new units 3,373 3,317 4,231 (397) 2,748Amount arising from cash flow hedging reservemovement 33 42 (135) 26 (44)3,406 3,359 4,096 (371) 2,704Consolidated statement of distributionsProfit for the period 4,692 4,438 5,031 455 3,443Adjustments:Change in fair values of investmentproperties (3,272) (3,259) (3,946) 464 (2,655)Deferred taxation on change in tax rate – – – (29) –Other non-cash income – (7) (30) (6) (12)Total distributable income 1,420 1,172 1,055 884 776Distribution per unit (HK cents)Interim DPU 63.11 52.86 48.35 40.86 36.1168The Link Real Estate Investment Trust