181 I N T E G R A T E D R E P O R T 2 0 2 1 37. BUSINESS SEGMENTS (CONT’D) 38. IMMEDIATE AND ULTIMATE HOLDING COMPANY Finance Investments Group elimination Total MUR m MUR m MUR m MUR m Year ended 30 September 2020 Interest income 1,697.9 222.4 (205.6) 1,714.7 Interest expense (487.1) (149.9) 205.6 (431.4) Net interest income 1,210.8 72.5 - 1,283.3 Lending and agency related income 640.1 4.7 - 644.8 Other income 142.2 236.7 (225.0) 153.9 Net income 1,993.1 313.9 (225.0) 2,082.0 Operating expenses (1,051.7) (349.4) 225.0 (1,176.1) Profit/(loss) before impairment 941.4 (35.5) - 905.9 Net impairment losses on financial assets (599.2) (53.4) - (652.6) Profit/(loss) after impairment 342.2 (88.9) - 253.3 Foreign exchange gain/(loss) 1.2 (0.3) - 0.9 Net gain on derecognition of subsidiaries - 13.5 - 13.5 Share of results of associates - 0.5 - 0.5 Profit/(loss) before tax 343.4 (75.2) - 268.2 Income tax expense (37.6) (39.8) - (77.4) Profit/(loss) for the year 305.8 (115.0) - 190.8 Assets 16,210.8 7,923.9 (8,226.4) 15,908.3 Liabilities 13,877.8 6,072.4 (8,241.4) 11,708.8 Capital expenditure 140.3 29.3 - 169.6 Investments in associates - 24.9 - 24.9 Depreciation and amortisation 206.4 16.0 - 222.4 Geographical information Sep-21 Sep-20 Revenue MUR m MUR m - from customers in Mauritius 2,639.2 2,492.2 - located in Kenya 16.0 21.2 2,655.2 2,513.4 Non-current assets* - located in Mauritius 537.4 653.3 - located in Kenya 4.5 14.8 541.9 668.1 * 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. Explanatory Notes 30 SEPTEMBER 2021 E x p l a n a t o r y N o t e s
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