20 Investment property revaluation result

Each year the investment property is valued by independent external valuers. These valuations result in the fair value of the investment property at the end of the financial year. Increases and decreases in value compared to the fair value at the end of the previous year are recognised as ‘investment property revaluation result’ in the indirect result.

For further details of the investment property revaluation result, please refer to the notes given for investment property.