Integrated Report 2020

INTEGRATED REPORT 2020 CIM FINANCIAL SERVICES LTD Statements of Profit or Loss 30 SEPTEMBER 2020 GROUP COMPANY Continuing Operations Notes Sep-20 MUR m Sep-19 MUR m Sep-20 MUR m Sep-19 MUR m Interest income Interest income using EIR method 5(a) 933.3 549.8 199.5 87.8 Other interest income 5(a) 781.4 892.8 0.3 30.8 Interest expense 5(b) (431.4) (388.2) (138.8) (39.3) Net interest income 1,283.3 1,054.4 61.0 79.3 Fee and commission income 6 569.2 541.1 - - Investment income - - 140.0 311.9 Other operating income 7 229.5 214.4 - 7.8 798.7 755.5 140.0 319.7 Net operating income 2,082.0 1,809.9 201.0 399.0 Operating expenses Employee benefit expense 8 (600.1) (574.6) (13.1) (11.4) Depreciation 22/23 (189.1) (146.2) - - Amortisation 24 (33.3) (26.8) (0.1) - Other operating expenses 9 (353.6) (400.4) (19.6) (25.6) (1,176.1) (1,148.0) (32.8) (37.0) Operating profit before impairment 905.9 661.9 168.2 362.0 Allowance for credit impairment 10 (652.6) (180.9) (16.2) (5.8) Impairment of investment 20/21 - - (22.6) (55.7) (652.6) (180.9) (38.8) (61.5) Operating profit 253.3 481.0 129.4 300.5 Foreign exchange gain 0.9 4.4 - 3.9 Net gain on derecognition of subsidiaries 33 13.5 - - - Net gain on share buy back of associate 6.2 - - - Share of results of associates 21 (a) (5.7) (32.3) - - Profit before tax from continuing operations 268.2 453.1 129.4 304.4 Income tax expense 11(a) (77.4) (86.2) (8.8) (2.7) Profit for the year from continuing operations 190.8 366.9 120.6 301.7 Discontinued operations Profit after tax for the year from discontinued operations - 15.8 - - Profit for the year 190.8 382.7 120.6 301.7 Basic and diluted earnings per share from continuing operations (MUR) 31 0.28 0.54 0.18 0.44 Basic and diluted earnings per share from discontinued operations (MUR) 31 - 0.02 - - Basic and diluted earnings per share (MUR) 31 0.28 0.56 0.18 0.44 The notes on pages 72 to 155 form an integral part of these financial statements. Auditor’s report on pages 62 to 65. 66