Corporate Finance

 

CONTRIBUTION TO HEADLINE EARNINGS 30 June 2020
R million		 30 June 2019
R million		    
Central treasury        
– Finance income 479  755     
– Finance costs (951) (823)    
– Option remeasurement 2  112     
Net corporate cost (667) (187)    
(1 137) (143)    

 


  • MILLENNIA JERSEY LIMITED – JERSEY
    REMGRO FINANCE CORPORATION PROPRIETARY LIMITED
    REMGRO HEALTHCARE HOLDINGS PROPRIETARY LIMITED
    REMGRO INTERNATIONAL LIMITED – JERSEY
    REMGRO JERSEY GBP LIMITED – JERSEY
    REMGRO MANAGEMENT SERVICES LIMITED
    V&R MANAGEMENT SERVICES AG – SWITZERLAND

    PROFILE:     Responsible for Remgro’s central treasury function as well as management and support services.
    Unlisted companies

    Finance income amounted to R479 million (2019: R755 million). This decrease is mainly due to lower local interest earned, resulting from local cash being expatriated during May 2019 (£100 million) and August 2019 (£70 million), as well as the 250 basis points reduction in the South African repo rate, announced since March 2020. Finance costs amounted to R951 million (2019: R823 million). The positive fair value adjustment of R2 million (2019: R112 million) relates to the decrease in the value of the bondholders’ exchange option of the exchangeable bonds.

    Other net corporate costs amounted to R667 million (2019: R187 million). This increase is mainly due to the Sukuma donation amounting to R500 million.

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