Statement of comprehensive income in accordance with INREV valuation principles

As at 31 December

2015

2014

IFRS

Adjustment

INREV

IFRS

Adjustment

INREV

Gross rental income

38,718

-

38,718

35,662

-

35,662

Service charge income

1,971

-

1,971

1,930

-

1,930

Other income

215

-

215

159

-

159

Revenues

40,904

-

40,904

37,751

-

37,751

Service charge expenses

(2,198)

-

(2,198)

(2,203)

-

(2,203)

Property operating expenses

(5,069)

-

(5,069)

(4,631)

-

(4,631)

(7,267)

-

(7,267)

(6,834)

-

(6,834)

Net rental income

33,637

-

33,637

30,917

-

30,917

Profit (loss) on sales of investment property

(183)

-

(183)

(8,356)

-

(8,356)

Positive fair value adjustment

31,972

-

31,972

32,719

-

32,719

Negative fair value adjustment

(29,682)

(1,400)

(31,082)

(40,846)

1,263

(39,583)

Net valuation gain (loss) on investment property

2,290

(1,400)

890

(8,127)

1,263

(6,864)

Administrative expenses

(3,595)

-

(3,595)

(3,254)

(100)

(3,354)

Result before finance expense

32,149

(1,400)

30,749

11,180

1,163

12,343

Finance income

1

-

1

5

-

5

Net finance expense

1

-

1

5

-

5

Result before tax

32,150

(1,400)

30,750

11,185

1,163

12,348

Income taxes

-

-

-

-

-

-

Net result

32,150

(1,400)

30,750

11,185

1,163

12,348

Other comprehensive income for the year

-

-

-

-

-

-

Total comprehensive income for the year

32,150

(1,400)

30,750

11,185

1,163

12,348

Net result attributable to shareholders

32,150

(1,400)

30,750

11,185

1,163

12,348

Total comprehensive income attributable to shareholders

32,150

(1,400)

30,750

11,185

1,163

12,348