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.