Integrated Report 2020

INTEGRATED REPORT 2020 CIM FINANCIAL SERVICES LTD Explanatory Notes 30 SEPTEMBER 2020 38. BUSINESS SEGMENTS 39. IMMEDIATE AND ULTIMATE HOLDING COMPANY Finance Investments Group elimination Discontinued operations Total MUR m MUR m MUR m MUR m MUR m Year ended 30 September 2019 Gross operating income 2,153.8 522.7 (478.4) - 2,198.1 Interest expense (432.1) (50.7) 94.6 - (388.2) Net operating income 1,721.7 472.0 (383.8) - 1,809.9 Operating expenses (1,023.6) (508.2) 383.8 - (1,148.0) Operating profit before impairment 698.1 (36.2) - - 661.9 Allowance for credit impairment (155.0) (25.9) - - (180.9) Operating profit 543.1 (62.1) - - 481.0 Foreign exchange gain 1.1 3.3 - - 4.4 Share of results of associates - (32.3) - - (32.3) 544.2 (91.1) - - 453.1 Income tax (expense)/credit (112.1) 25.9 - - (86.2) Profit for the year from continuing operations 432.1 (65.2) - - 366.9 Profit for the year from discontinued operations - - - 15.8 15.8 Profit for the year 432.1 (65.2) - 15.8 382.7 Assets 14,934.9 3,533.7 (3,657.8) - 14,810.8 Liabilities 12,715.8 1,577.3 (3,657.8) - 10,635.3 Capital expenditure 323.1 7.7 - - 330.8 Investments in associates - 141.0 - - 141.0 Depreciation and amortisation 161.5 13.3 (1.8) - 173.0 Geographical information Sep-20 Sep-19 Revenue MUR m MUR m - from customers in Mauritius 2,492.2 2,196.8 - from customers in foreign countries 21.2 1.3 2,513.4 2,198.1 Non-current assets* - located in Mauritius 653.3 710.9 - located in foreign countries 14.8 20.0 668.1 730.9 * Non-current assets exclude financial instruments, deferred tax assets and post employment benefit assets. For management purposes, the Group is organised into two business segments based on the products and services as follows: Finance – consumer credit, leasing, card acquiring and issuing, factoring and foreign exchange dealing. Investments – strategy monitoring, support to SBUs, performance monitoring and statutory reporting. No operating segments have been aggregated to form the above reportable operating segments. The immediate holding and ultimate holding companies of CIM Financial Services Ltd are Cim Holdings Ltd and Elgin Ltd respectively. Both companies are incorporated in Mauritius. 148