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Cim Group Abridged Unaudited Financial Statements - Quarter Ended 31 December 2016
Group revenue has recorded an increase of 10% against the same period last year to reach MUR523m. We have seen growth in revenues across our Finance, Global Business and Property clusters. Revenue has declined in the Investments cluster following the disposal of Cybernaptics in Oct16.
Group PAT before non-recurring items (relating to last year's gain on the disposal of The BrandHouse) was MUR139.2m, an increase of 4% over history.
In the Finance businesses, we are encouraged by the increase in revenue on the back of higher lending volumes resulting in a healthy growth in PAT to MUR74.6m.
Cim Global Business has witnessed a 3% gain in revenue over history yielding an increase in PAT to MUR59.0m.
Increased investment in our Property cluster last year has generated a 19% growth in rental income and driven increased PAT of MUR12.2m, 28% up on last year.
Following the disposal of The Brandhouse and Cybernaptics, our investment cluster now largely comprises of costs associated with the corporate office and our international expansion initiatives. The loss of MUR6.6m reported by the investment cluster is due to a change in the basis of allocation of corporate office costs, with a higher proportion of costs retained in the centre.
The positive Group results of this quarter across our main businesses give us comfort that our plans to generate growth are on the right track.
By order of the Board
Cim Administrators Ltd
Company Secretary
