Integrated Report 2020

INTEGRATED REPORT 2020 CIM FINANCIAL SERVICES LTD Explanatory Notes 30 SEPTEMBER 2020 GROUP COMPANY Sep-20 MUR m Sep-19 MUR m Sep-20 MUR m Sep-19 MUR m Wages, salaries and related expenses 546.8 524.6 11.0 9.1 Pension and other retirement benefit costs 53.3 50.0 2.1 2.3 600.1 574.6 13.1 11.4 GROUP COMPANY Sep-20 MUR m Sep-19 MUR m Sep-20 MUR m Sep-19 MUR m Administration 288.2 330.8 8.2 11.8 Professional fees 29.2 35.0 11.4 13.8 Advertising and marketing 36.2 34.6 - - 353.6 400.4 19.6 25.6 GROUP COMPANY Sep-20 MUR m Sep-19 MUR m Sep-20 MUR m Sep-19 MUR m Net provision for credit impairment - Leases 101.9 (6.2) - - - Other credit agreements 350.9 124.6 - - Loans and advances - Credit facilities 173.8 54.5 - - - Corporate credit facilities 5.7 11.1 16.2 6.4 - Factoring receivables 2.2 1.7 - - - Card receivables 40.4 13.9 - - Others - Deposit - (0.7) - (0.7) - Others 0.5 0.7 - 0.1 Bad debts recovered - Leases (0.9) (0.6) - - - Other credit agreements (21.9) (12.9) - - - Loans and advances - (5.2) - - 652.6 180.9 16.2 5.8 GROUP COMPANY (a) Income tax expense Sep-20 MUR m Sep-19 MUR m Sep-20 MUR m Sep-19 MUR m Current income tax at 15% (2019: 15%) 170.3 44.6 6.8 2.7 Corporate Social Responsibility tax at 2% (2019: 2%) 23.2 5.6 1.5 - Over/(under) provision in previous year 0.6 (1.1) 0.5 - Deferred tax (credit) / expense (116.7) 37.1 - - Income tax expense 77.4 86.2 8.8 2.7 The tax charge shown in profit or loss differs from the tax charge that would apply if all profits had been charged at the Company’s statutory rate. A reconciliation between the tax expense and the accounting profit at 17% is as follows: 8. EMPLOYEE BENEFIT EXPENSES 9. OTHER OPERATING EXPENSES 10. ALLOWANCE FOR CREDIT IMPAIRMENT 11. TAXATION 110