For the year ended 30 September 2023, the Group’s bottom-line result amounted to MUR 961M.

The performance of the Group for the year has been driven by the growth in the consumer finance and leasing activities, buoyed by a more positive economic sentiment. Whilst the increase in cost of funding has affected net interest income, allowance for credit impairment on our financial assets were lower than prior year, resulting from an improved loan book and steady collection. During the year, the Group continued to support its most affected customers.

Dividend

The Board has declared a final dividend of 38 cents per share payable in respect of all the ordinary shares of the Company which will be payable to the shareholders of the Company registered at close of business on 11 January 2024. The payment of this dividend will take place on or about 26 January 2024.

The shares of the Company will be traded cum-dividend on the Stock Exchange up to the market date of 08 January 2024 and ex-dividend as from 09 January 2024.

Outlook
Notwithstanding persistent pressure on inflation and interest rates, the Board expects the performance of the Group for the next financial year to remain positive yet with a degree of volatility. It will continue to exercise prudence in managing its assets whilst controlling its cost base.

By Order of the Board
Cim Administrators Ltd
Company Secretary
20 December 2023

The abridged audited financial statements of the Group for the year ended 30 September 2023 have been prepared using the same accounting policies as set out in the audited  financial statements for the year ended 30 September 2023, except for the adoption of published standards that are now effective. These abridged audited financial statements are issued pursuant to Mauritian Listing Rule 12.14 and the Mauritian Securities Act 2005.

Copies of the statement of direct and indirect interests of Officers pursuant to rule 8(2)(m) of the Mauritian Securities (Disclosure Obligations of Reporting Issuers) Rules 2007 and the financial statements 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.

Click here to view the Abridged Audited Financial Statements for the Year Ended 30 September 2023.