Group revenue has recorded an increase of 10% against the same period last year to reach MUR523m. We have seen growth in revenues across our Finance, Global Business and Property clusters. Revenue has declined in the Investments cluster following the disposal of Cybernaptics in Oct16.
Group PAT before non-recurring items (relating to last year’s gain on the disposal of The BrandHouse) was MUR139.2m, an increase of 4% over history.
In the Finance businesses, we are encouraged by the increase in revenue on the back of higher lending volumes resulting in a healthy growth in PAT to MUR74.6m.
Cim Global Business has witnessed a 3% gain in revenue over history yielding an increase in PAT to MUR59.0m.
Increased investment in our Property cluster last year has generated a 19% growth in rental income and driven increased PAT of MUR12.2m, 28% up on last year.
Following the disposal of The Brandhouse and Cybernaptics, our investment cluster now largely comprises of costs associated with the corporate office and our international expansion initiatives. The loss of MUR6.6m reported by the investment cluster is due to a change in the basis of allocation of corporate office costs, with a higher proportion of costs retained in the centre.
The positive Group results of this quarter across our main businesses give us comfort that our plans to generate growth are on the right track.
By order of the Board
Cim Administrators Ltd
14 February 2017
The abridged financial statements of the Group are unaudited and have been prepared using the same accounting policies as the audited statements for the year ended 30 September 2016, except for the adoption of published Standards that are now effective.
These abridged financial statements are 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 abridged 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.
Cim Financial Services Ltd
33, Edith Cavell Street, Port Louis 11324, Mauritius
Tel: (230) 213 7676
Fax: (230) 213 7677