Finance Investments Group elimination Total MUR m MUR m MUR m MUR m Year ended 30 September 2022 Interest income 2,475.8 270.7 (244.2) 2,502.3 Interest expense (474.2) (197.5) 244.2 (427.5) Net interest income 2,001.6 73.2 – 2,074.8 Lending and agency related income 396.8 – – 396.8 Other income 88.7 87.5 (75.1) 101.1 Net operating income 2,487.1 160.7 (75.1) 2,572.7 Operating expenses (1,145.9) (221.9) 75.1 (1,292.7) Profit/(loss) before impairment 1,341.2 (61.2) – 1,280.0 Net impairment losses on financial assets (544.7) (16.0) – (560.7) Impairment of investment in subsidiary – (45.7) 45.7 – Profit/(loss) after impairment 796.5 (122.9) 45.7 719.3 Foreign exchange gain 1.0 0.6 – 1.6 Gain on bargain purchase – 16.4 – 16.4 Share of results of associates – (2.5) – (2.5) Profit/(loss) before tax 797.5 (108.4) 45.7 734.8 Income tax expense (130.4) (3.1) – (133.5) Profit for the year from continuing operations 667.1 (111.5) 45.7 601.3 Profit for the year from discontinued operations – – – – Profit/(loss) for the year 667.1 (111.5) 45.7 601.3 Assets 18,846.9 7,011.3 (7,103.6) 18,754.6 Liabilities 15,183.3 5,705.7 (7,103.6) 13,785.4 Capital expenditure 174.8 0.3 – 175.1 Investment in associates – 12.5 – 12.5 Depreciation & amortisation 193.4 4.2 – 197.6 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. Geographical information Sep-23 MUR m Sep-22 MUR m Revenue - From customers in Mauritius 3,463.7 2,977.7 - located in Kenya 31.2 22.5 3,494.9 3,000.2 Non-current assets** - located in Mauritius 634.4 544.4 - located in Kenya 1.5 2.3 635.9 546.7 * Non-current assets exclude financial instruments, deferred tax assets and post employment benefit assets. 41 IMMEDIATE AND ULTIMATE HOLDING COMPANY 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. 197 OUR YEAR AT A GLANCE OUR PEOPLE GOVERNANCE FINANCIAL STATEMENTS
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