CIM GROUP REPORTS A PROFIT AFTER TAX (PAT) OF MUR90.7M FOR THE QUARTER ENDED 31 DECEMBER 2019
Cim Group posted overall a PAT of MUR90.7M, up 30% on prior year figure. The Group’s Net Operating Income closed just above half a billion rupees for the period under review. The encouraging results were driven by its Finance cluster’s positive momentum in the first quarter of the new financial year, which returned a net growth of 21% in its Net Operating Income (MUR484m), compared to MUR401m achieved in 2018. The lending book of the Group continued to experience steady growth over the period, supported by its four main activities of consumer finance, leasing, factoring and cards business. The Group raised funds on the debt capital market in October 2019 and together with the sale of its dollar financial assets, earlier in 2019, supported the achieved growth.
On the back of the positive performance achieved during the last three months, the Group will continue to deliver value to its stakeholders.
By Order of the Board
Cim Administrators Ltd
13 February 2020
The condensed financial statements of the Group (‘Interim Report’) are unaudited and have been prepared using the same accounting policies as the audited statements for the year ended 30 September 2019, except for the adoption of published Standards that are now effective. This Interim Report is issued pursuant to Listing Rule 12.20 and the Securities Act 2005. Copies of the statement of direct and indirect interests of Officers pursuant to rule 8(2)(m) of the Securities (Disclosure Obligations of Reporting Issuers) Rules 2007 and the Interim Report are available free of charge upon request made to the Company Secretary at the registered office of CIM Financial Services Ltd. The Board of Directors of CIM Financial Services Ltd accepts full responsibility for the accuracy of the information contained therein.