Financial Statements-Six Months & Quarter Ended 31 March
Monday, 10 May 2021
Cim Group reports a Profit After Tax (PAT) of MUR 174.6M for the six months ended 31 March 2021.
For the first six months, Cim Group posted a PAT of MUR 174.6M as compared to prior year of MUR 130.7M. Since the beginning of the financial year, the lending book of the Group grew modestly with total assets of the Group increasing by 1% to reach MUR 16.1Bn.
Given the continuing challenging environment, the Board maintained its prudent approach with an allowance for credit impairment for the period of MUR 224.1M.
Although the Group benefited from the initiatives implemented by management to control costs, the domestic economic horizon more than ever remains uncertain. The Board will therefore continue to exercise prudence and monitor closely the developing situation.
By Order of the Board
Cim Administrators Ltd
10 May 2021
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 2020, 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.
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