CIM FINANCE. INTEGRATED REPORT 2022 | 207 42. IMMEDIATE AND ULTIMATE HOLDING COMPANY Finance Investments Group elimination Total MUR m MUR m MUR m MUR m Year ended 30 September 2021 - restated* Interest income 2,155.8 294.4 (277.9) 2,172.3 Interest expense (457.6) (216.4) 277.9 (396.1) Net interest income 1,698.2 78.0 - 1,776.2 Lending and agency related income 346.6 3.4 - 350.0 Other income 123.1 80.8 (74.0) 129.9 Net operating income 2,167.9 162.2 (74.0) 2,256.1 Operating expenses (1,091.2) (192.0) 74.0 (1,209.2) Profit/(loss) before impairment 1,076.7 (29.8) - 1,046.9 Net impairment losses on financial assets (534.9) (5.1) - (540.0) Profit/(loss) after impairment 541.8 (34.9) - 506.9 Foreign exchange gain 5.2 0.2 - 5.4 Share of results of associates - (3.8) - (3.8) Profit/(loss) before tax 547.0 (38.5) - 508.5 Income tax expense (88.9) (5.0) - (93.9) Profit/(loss) for the year 458.1 (43.5) - 414.6 Assets 16,722.8 7,923.9 (8,226.4) 16,420.3 Liabilities 14,008.4 6,072.4 (8,241.4) 11,839.4 Capital expenditure 72.6 1.9 - 74.5 Investments in associates - - - - Depreciation & amortisation 202.5 9.8 - 212.3 Geographical information Sep-22 Sep-21 Revenue MUR m MUR m Restated* - from customers in Mauritius 2,977.7 2,639.2 - located in Kenya 22.5 16.0 3,000.2 2,655.2 Non-current assets** - located in Mauritius 544.4 537.4 - located in Kenya 2.3 4.5 546.7 541.9 *Refer to Note 39 Restatement and reclassifications. **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. 41. BUSINESS SEGMENTS (CONT’D) EXPLANATORY NOTES 30 SEPTEMBER 2022
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