|Contribution to headline earnings||30 June
|– Finance income||212||479|
|– Finance costs||(861)||(951)|
|– Option remeasurement||–||2|
|Net corporate costs||(249)||(705)|
Remgro Finance Corporation Proprietary Limited
Remgro Healthcare Holdings Proprietary Limited
Remgro International Limited – Jersey
Remgro Management Services Limited
V&R Management Services AG – Switzerland
Responsible for Remgro’s central treasury function as well as management and support services.
Finance income amounted to R212 million (2020: R479 million). This decrease is mainly due to lower local interest earned, resulting from the 300 basis points reduction in the South African repo rate, announced since January 2020, as well as a lower local average cash balance. Finance costs is lower at R861 million (2020: R951 million), mainly due to the redemption of the exchangeable bonds in cash on 22 March 2021.
Other net corporate costs amounted to R249 million (2020: R705 million). This decrease is mainly due to the once-off donation of R500 million to The SA SME Relief Trust in the comparative year.