|Contribution to headline earnings||30 June
|– Finance income||650||224|
|– Finance costs||(628)||(627)|
|Net corporate income/(costs)||205||(252)|
Remgro Finance Corporation Proprietary Limited
Remgro Healthcare Holdings Proprietary Limited
Remgro USA 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 R650 million (2022: R224 million). This increase is mainly due to the increase in the South African repo rate and a higher average cash balance, due to the disposal of 60 million FirstRand shares and Remgro’s investment in Grindrod Shipping. Finance costs amounted to R628 million (2022: R627 million). Other net corporate income of R205 million (2022: net corporate costs of R252 million) includes an after-tax foreign exchange gain of R522 million realised on foreign exchange contracts entered in respect of the acquisition of the additional 5.4% indirect interest in Mediclinic.