A2
Consolidated Statement of
INCOME
For the year ended 31 December, 2012
Expressed in Trinidad and Tobago dollars
Notes
31-Dec-12
$ ‘000
31-Dec-11
$ ‘000
CONTINUING OPERATIONS
INCOME
Investment Income -
Growth & Income Fund
235,015
176,437
TT$ Income Fund
440,894
360,604
Universal Retirement Fund
12,136
8,292
US$ Income Fund
19
126,949
150,694
Net Investment Income - Group Operations
20
31,299
20,071
Realized Gains Re-classified from Equity
21
154,989
-
Initial Charge
8,818
7,191
Other Income
23,720
13,229
Total Income
1,033,820
736,518
EXPENSES
Commissions
(17,368)
(15,851)
Impairment
23
(314,322)
-
Administrative
24
(222,471)
(201,713)
Depreciation and Amortisation
(20,571)
(20,535)
Provision for Sinking Fund Liability
(5,782)
(7,805)
Total Expenses
(580,514)
(245,904)
Net Income before Finance Charges
453,306
490,614
Finance Charges
26
(235)
(324)
Net Income after Finance Charges
453,071
490,290
Undistributed Income at beginning of year
7,443
1,423
Distributions
27
(258,859)
(354,770)
Transfer from Investment Funds to Reserves
(76,729)
(23,565)
Income Capitalized
(5,883)
(4,475)
Undistributed Income at end of year
(13,522)
(7,443)
Net Income before Taxation from Continuing Operations
105,521
101,460
Taxation
8
(7,287)
(5,802)
Net Income after Taxation from Continuing Operations
98,234
95,658
DISCONTINUED OPERATIONS
Net Loss from Discontinued Operations
28
-
(24,825)
Net Income for the year
98,234
70,833
Net Income Attributable to:
Owners of the Parent
94,442
79,959
Non-controlling Interest
3,792
(9,126)
98,234
70,833
Trinidad and Tobago Unit Trust Corporation
Unit Trust Corporation
Annual Report 2012
The accompanying notes form an integral part of these consolidated financial statements.
