15 / 87
13
Dar Al-Maal Al-Islami Trust
Annual Report 2014
Consolidated Statement of Income for the year ended 31 December
(Thousands of US dollars)
Notes
2014
2013
Income
Fund management and services
34
45,112
42,354
Income from investments with Islamic institutions
1,797
2,345
Net trading income
24
18,766
19,916
Income from investments in financings
25
156,872
152,510
Fee and commission income
26
37,936
37,466
Gains from investment securities
10
72,826
43,997
Dividend income
27
18,671
11,248
(Losses)/gains from other income
28
(12,314)
5,466
339,666
315,302
Profit paid to financial and other institutions
(18,667)
(23,864)
Distribution to Massaref account holders
(212,587)
(201,289)
Operating income
108,412
90,149
Expenses
Staff costs
29
(108,880)
(106,334)
General and administrative expenses
30
(93,143)
(86,581)
Depreciation and amortisation
16,17
(27,211)
(30,425)
Exchange gain/(loss)
12,818
(3,088)
Reversal of/(allowance for) impairment
9
987
(4,182)
Total expenses
(215,429)
(230,610)
Operating (loss)
(107,017)
(140,461)
Gain on disposal of associated company
15
111,111
-
Share of profit of associated companies
15
29,231
74,784
Profit/(loss) before income taxes
33,325
(65,677)
Taxes
32
(9,893)
(3,798)
Profit/(loss) after income taxes
23,432
(69,475)
Attributable to:
Equity participants
35,108
(27,286)
Non-controlling interests
33
(11,676)
(42,189)
23,432
(69,475)
The notes on pages 18 to 84 form an integral part of these consolidated financial statements.