Annual Report 2019

Statements of Profit or Loss 30 SEPTEMBER 2019 GROUP COMPANY NOTES Sep-19 Sep-18 Sep-19 Sep-18 Continuing Operations MUR m MUR m MUR m MUR m Interest income Interest income using EIR method 549.8 454.7 87.8 121.8 Other interest income 5(a) 892.8 734.5 30.8 18.3 Interest expense 5(b) (388.2) (381.3) (39.3) (108.7) Net interest income 1,054.4 807.9 79.3 31.4 Fee and commission income 6 541.1 539.4 - - Investment income - - 311.9 65.0 Other operating income 7 214.4 72.0 7.8 (30.3) 755.5 611.4 319.7 34.7 Net operating income 1,809.9 1,419.3 399.0 66.1 Operating expenses Employee benefit expenses 8 (574.6) (465.7) (11.4) (9.2) Depreciation (146.2) (61.8) - - Amortisation (26.8) (17.9) - - Other operating expenses 9 (400.4) (318.4) (25.6) (40.7) (1,148.0) (863.8) (37.0) (49.9) Operating profit before impairment 661.9 555.5 362.0 16.2 Allowance for credit impairment 10 (180.9) (214.3) (5.8) - Impairment of investment - (0.6) (55.7) (0.6) (180.9) (214.9) (61.5) (0.6) Operating profit 481.0 340.6 300.5 15.6 Foreign exchange gain/(loss) 4.4 (9.3) 3.9 (11.1) Share of results of associates 21 (a) (32.3) (14.7) - - 453.1 316.6 304.4 4.5 Net gain on business combination 34 - 29.5 - - Profit before tax from continuing operations 453.1 346.1 304.4 4.5 Income tax expense 11(a) (86.2) (72.7) (2.7) - Profit for the year from continuing operations 366.9 273.4 301.7 4.5 Discontinued operations Profit after tax for the year from discontinued operations 35 15.8 78.7 - - Profit for the year 382.7 352.1 301.7 4.5 Attributable to: Equity holders of the parent Profit for the year from continuing operations 366.9 272.7 301.7 4.5 Profit for the year from discontinued operations 15.8 78.7 - - 382.7 351.4 301.7 4.5 Non controlling interests Profit for the year from continuing operations - 0.7 - - - 0.7 - - 382.7 352.1 301.7 4.5 Basic/diluted earnings per share from continuing operations 32 MUR. 0.54 0.40 0.44 0.01 Basic/diluted earnings per share 32 MUR. 0.56 0.52 0.44 0.01 The notes on pages 72 to 157 form an integral part of these financial statements. Auditors’ report on pages 60 to 65. CIM FINANCIAL SERVICES LTD / ANNUAL REPORT 2019 66