Abacus Property Group – Annual Financial Report 2018

ABACUS PROPERTY GROUP
NOTES TO THE FINANCIAL STATEMENTS
30 JUNE 2018
1. REVENUE
2018 2017
$'000
$'000
Finance income
Interest and fee income on secured loans 47,465 43,895
Bank interest 940 742
Total finance income 48,405 44,637
2. EARNINGS PER STAPLED SECURITY
2018 2017
Basic and diluted earnings per stapled security (cents) 42.18 49.91
Reconciliation of earnings used in calculating earnings per stapled security
Basic and diluted earnings per stapled security
Net profit ($'000) 243,709 285,097
Weighted average number of shares:
Weighted average number of stapled securities for basic earning per security ('000) 577,806 571,204
3. EXPENSES
2018 2017
$'000
$'000
(a) Depreciation and amortisation expenses
Depreciation and amortisation of property, plant and equipment and software 3,533 670
Amortisation - leasing costs 1,646 1,811
Total depreciation and amortisation expenses 5,179 2,481
(b) Net change in fair value of investments held at balance date
Net change in fair value of property securities held at balance date 29 708
Net change in fair value of options held at balance date - 22,774
Net change in fair value of other investments held at balance date 6,334 (7,928)
Total change in fair value of investments held at balance date 6,363 15,554
(c) Finance costs
Interest on loans 28,819 33,951
Amortisation of finance costs 2,439 1,875
Total finance costs 31,258 35,826
(d) Administrative and other expenses
Wages and salaries 18,052 16,818
Contributions to defined contribution plans 1,054 1,059
Other expenses 12,832 11,606
Total administrative and other expenses 31,938 29,483
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