Perennial Real Estate Holdings Limited - Annual Report 2017

Note 2017 $’000 2016 $’000 Revenue 20 74,505 110,191 Cost of sales (26,105) (41,198) Gross profit 48,400 68,993 Other income 21 144,871 36,316 Administrative expenses (25,815) (26,233) Other operating expenses (3,671) (23) Results from operating activities 163,785 79,053 Finance income 20,044 16,349 Finance costs (69,466) (73,662) Net finance costs 22 (49,422) (57,313) Share of results of associates and joint ventures, net of tax 55,826 32,178 Profit before tax 170,189 53,918 Tax expense 23 (31,344) (8,533) Profit for the year 24 138,845 45,385 Profit for the year attributable to: Owners of the Company 100,299 35,053 Non-controlling interests 19 38,546 10,332 138,845 45,385 Earnings per share (cents) Basic 26 6.02 2.11 Diluted 26 6.02 2.11 The accompanying notes form an integral part of these financial statements. INTEGRATED STRATEGY, ENHANCED VALUE 163 Annual Report 2017 CONSOLIDATED STATEMENT OF PROFIT OR LOSS Year ended 31 December 2017