In May 2017, the Group completed the sale of its Global Business cluster which produced a net profit on disposal of MUR2,463.8m. In our financial reporting, Global Business is now accounted for under ‘discontinued operations’ and prior period results have been appropriately adjusted for comparison purposes. Group results have been positively impacted by this transaction with a Group Profit after Tax for the quarter of MUR2,598.5m.
Group PAT, excluding non-recurring items, continued to benefit from its main contributors, the Finance and Property clusters, up 14% and 18% respectively.
Nine months ended 30 June 2017
The impact of the Global Business sale is similarly reflected in the cumulative performance up to June with the Group reporting a Profit after Tax of MUR2,883.4m.
Net Operating Income from continuing operations grew by 12% over history with the Finance cluster benefiting from increased lending volumes and the Property cluster reflecting a healthy increase in rental income.
Group PAT from continuing operations and before non-recurring items rose to MUR249.1m again boosted by the Finance and Property clusters.
The rapid growth of our two main businesses and the strength of the Balance Sheet give the Group the comfort for further extending its investment opportunities both in Mauritius and the region.
By order of the Board
Cim Administrators Ltd
10 August 2017