CFSL - Annual report 2018

STATEMENTS OF PROFIT OR LOSS 30 SEPTEMBER 2018 GROUP COMPANY Sep-18 Sep-17 Sep-18 Sep-17 Continuing Operations NOTES MUR m MUR m MUR m MUR m Interest income 5(a) 1,189.2 1042.4 140.1 126.0 Interest expense 5(b) (382.0) (352.1) (108.7) (103.4) Net interest income 807.2 690.3 31.4 22.6 Sale of goods - 0.3 - - Sale of services 2.8 3.2 - - Fee and commission income 6 539.4 566.3 - - Investment income - - 65.0 448.9 Other operating income 7 232.9 321.6 (30.3) 18.4 775.1 891.4 34.7 467.3 Net operating income 1,582.3 1,581.7 66.1 489.9 Operating expenses Cost of sales of goods and services (2.7) (0.3) - - Employee benefit expense 8 (484.8) (485.2) (9.2) (8.0) Depreciation (67.7) (68.2) - - Amortisation (18.3) (15.6) - - Other operating expenses 9 (358.0) (305.1) (40.7) (19.7) (931.5) (874.4) (49.9) (27.7) Operating profit before impairment 650.8 707.3 16.2 462.2 Allowance for credit impairment 10 (214.3) (186.3) - - Impairment of investment 17(a) (0.6) (0.6) (0.6) (0.6) (214.9) (186.9) (0.6) (0.6) Operating profit 435.9 520.4 15.6 461.6 Foreign exchange loss (9.3) (117.0) (11.1) (120.0) Share of results of associates 21(a) (14.7) (5.6) - - 411.9 397.8 4.5 341.6 Gain on disposal of subsidiaries - 13.7 - 2,494.9 Net gain on business combination 34 29.5 - - - Profit before tax from continuing operations 441.4 411.5 4.5 2,836.5 Income tax expense 11(a) (89.3) (107.3) - 0.5 Profit for the year from continuing operations 352.1 304.2 4.5 2,837.0 Discontinued operations Profit after tax for the year from discontinued operations 35 - 2,645.4 - - Profit for the year 352.1 2,949.6 4.5 2,837.0 Attributable to: Equity holders of the parent Profit for the year from continuing operations 351.4 310.8 4.5 2,837.0 Profit for the year from discontinued operations - 2,645.4 - - 351.4 2,956.2 4.5 2,837.0 Non controlling interests Profit for the year from continuing operations 0.7 (6.6) - - Profit for the year from discontinued operations - - - - 0.7 (6.6) - - 352.1 2,949.6 4.5 2,837.0 Basic/diluted earnings per share from continuing operations 32 MUR. 0.52 0.46 0.01 4.17 Basic/diluted earnings per share 32 MUR. 0.52 4.35 0.01 4.17 The notes on pages 62 to 139 form an integral part of these financial statements. Auditor’s report on pages 50 to 55. 56 CIM FINANCIAL SERVICES LTD ANNUAL REPORT 2018