2c) Identify the figures provided in the older of the two reports (e.g. if you downloaded FY2018 and FY2019s annual reports, the older of the two reports would be FY2018). These figures will also be stated in the newer report, so that you can compare the results between the most recent and the second most recent year3. Compare the figures as stated in both reports4. Are they the same? If not, you must identify the differences. If there are differences, provide reasons for why they have been changed. In excel, you should make comparison of the two columns by using one column to minus the other to demonstrate the differences. A separate extraction of the specific years results is recommended in answering this question. (Total of 2 marks)

The question asks to see if the 2018 statements are the same as 2018 in the 2019 statement.

Consolidated and Separate Statements of Profit or Loss and Other Comprehensive Income Year ended 30 June 2019 THE GROUP 2019 MUR'OOO 2018 MUR'OOO 24,206,459 22,608,499 2,952,622 1,165,936 1,786,686 REVENUE Normalised earnings before interest, tax, depreciation and amortisation Depreciation and amortisation Normalised earnings before interest and tax Impairment of goodwill Impairment of other non-financial assets Finance income Finance costs Share of results of joint ventures Share of results of associates (Loss)/profit before income tax Income tax expense (Loss)/profit for the year (Loss)/profit attributable to: Owners of the parent Non-controlling interests 3,443,392 -1,215,821 2,227,571 -1,877,286 -200,841 32,138 -812,721 161,215 -283,096 -753,020 -436,041 -1,189,061 26,614 -780,711 272,237 74,084 1,378,910 -288,574 1,090,336 -860,428 -328,633 -1,189,061 -0.52 441,817 648,519 1,090,336 0.27 Basic and diluted (loss/earnings per share (Loss)/profit for the year -1,189,061 1,090,336 Other comprehensive income: items that will not be reclassified to profit or loss: Impairment of property, plant and equipment -393,238 Deferred income tax on property, plant and equipment 61,370 Gain on revaluation of land and buildings 65,954 706,216 Deferred income tax on revaluation gain -12,322 -64,851 Remeasurements of post-employment benefit obligations -94,099 Deferred income tax on remeasurements of postemployment 52,122 benefit obligations 1,522 hanges equity 18-19 -17,902 compare changes equity 18-18 ASSESSMENT 2 CSR Consolidated and Separate Statements of Profit or Loss and Other Comprehensive Income FROM 2019 FROM 2018 STATEMENT STATEMENT 2018 2018 MUR'000 MUR'000 VARIANCE 22,608,499 22,608,499 0 2,952,622 -1,165,936 1,786,686 2,952,622 -1,165,936 1,786,686 0 0 0 REVENUE Normalised earnings before interest, tax, depreciation and amortisation Depreciation and amortisation Normalised earnings before interest and tax Impairment of goodwill Impairment of other non-financial assets Finance income Finance costs Share of results of joint ventures Share of results of associates (Loss)/profit before income tax Income tax expense (Loss)/profit for the year (Loss)/profit attributable to: Owners of the parent Non-controlling interests 0 26,614 -780,711 272,237 74,084 1,378,910 -288,574 1,090,336 26,614 -780,711 272,237 74,084 1,378,910 288,574 1,090,336 0 441,817 648,519 1,090,336 0.27 1,090,336 441,817 648,519 1,090,336 0.27 1,090,336 0 0 0 0 Basic and diluted (loss)/earnings per share (Loss)/profit for the year Other comprehensive income: items that will not be reclassified to profit or loss: Impairment of property, plant and equipment Deferred income tavan nranart nlant and enuinment Statements of P&l 18-19 compare p&L 18-18 financial position 18-19 compa 0.27 1,090,336 0.27 1,090,336 0 0 706,216 -64,851 52,122 706,216 -64,851 52,122 0 0 0 -17,902 -17,902 0 Basic and diluted (loss)/earnings per share (Loss)/profit for the year Other comprehensive income: Items that will not be reclassified to profit or loss: Impairment of property, plant and equipment Deferred income tax on property, plant and equipment Gain on revaluation of land and buildings Deferred income tax on revaluation gain Remeasurements of post-employment benefit obligations Deferred income tax on remeasurements of postemployment benefit obligations Change in the fair value of equity instruments at fair value through other comprehensive income Share of other comprehensive income of associates and joint ventur Items that may be reclassified to profit or loss: Change in the fair value of available-for-sale financial assets Currency translation differences Cash flow hedges Deferred income tax on cash flow hedges Other comprehensive income for the year, net of tax Total comprehensive income for the year Total comprehensive income attributable to: Owners of the parent 79,366 79,366 110,070 -366,794 -1,674 -8,715 487,838 1,578,174 110,070 -366,794 -1,674 -8,715 487,838 1,578,174 0 0 0 0 756,201 756,2010 Non-controlling interests 821,973 1.578,174 821,9730 1,578,174 0 Consolidated and Separate Statements of Profit or Loss and other Comprehensive Income Year ended 30 June 2018 THE GROUP 2018 MUR'000 2017 MUR'000 REVENUE 22,608,499 20,660,562 Earnings before interests, taxation, depreciation and amortisation Depreciation and amortisation Earnings before interests and taxation Finance income Finance costs Share of results of joint ventures Share of results of associates Profit before taxation Income tax Profit for the year Profit attributable to: Owners of the parent Non-controlling interests 2,952,622 -1,165,936 1,786,686 26,614 -780,711 272,237 74,084 1,378,910 -288,574 1,090,336 2,845,480 -975,594 1,869,886 38,407 -724,539 140,181 88,269 1,412,204 -291,947 1,120,257 441,817 648,519 1,090,336 0.27 1,090,336 458,570 661,687 1,120,257 0.3 1,120,257 Basic and Diluted Earnings per share Profit for the year Other comprehensive income: Items that will not be reclassified to profit or loss: Gain on revaluation of land and buildings Deferred tax on revaluation gain Share of other comprehensive income of associates and joint ventures Remeasurements of post employment benefit obligations Statements of P&l 18-19 compare p&L 18-18 706,216 -64,851 371,157 -13,296 -17,343 52,122 -63,538 financial position 18-19 latarren van am a mante Arratiraman banat 1,090,336 0.27 1,120,257 0.3 1,090,336 1,120,257 Basic and Diluted Earnings per share Profit for the year Other comprehensive income: Items that will not be reclassified to profit or loss: Gain on revaluation of land and buildings Deferred tax on revaluation gain 706,216 -64,851 371,157 -13,296 52,122 -17,902 -17,343 -63,538 7,195 110,070 -90,851 79,366 ventures Remeasurements of post employment benefit obligations Deferred tax on remeasurements of post retirement benefit nblipations items that may be reclassified subsequently to profit or loss: Change in value of available-for-sale financial assets Share of other comprehensive income of associates and joint ventures Impairment of investments Currency translation differences Cash flow hedges Deferred tax on cash flow hedges Other comprehensive income for the year Total comprehensive income for the year Total comprehensive income attributable to: Owners of the parent -199,761 137,918 -366,794 -1,674 -8,715 487,838 1,578,174 -48,955 -2,279 -83,122 1,037,135 756,201 363,614 Non-controlling interests 821,973 1,578,174 673,521 1,037,135 Conclidated and Senarate statements of Drafie Consolidated and Separate Statements of Financial Position Year ended 30 June 2018 THE GROUP 30 June 2018 MUR'000 30 June 2017 MLD ON Non-current assets Property, plant and equipment at Fair Value Property, plant and equipment at Amortised Cost Investment properties Intangible assets 20,928,864 4,187,957 1,548,101 3,583,624 20,212,956 4,116,482 1,575,640 3,600,635 1,558,349 4,746,720 382,976 1,367,847 4,611,465 254,734 Investments in joint ventures Investments in associates Investments in other financial assets Deposit on investments Loans and advances to customers Loans to banks Investments in securities Leasehold rights and land prepayments Non-current receivables Deferred income tax assets 4,424,600 4,364,504 262,974 2,253,396 1,749,147 538,322 421,612 30,379 29,442 95,427 141,641 44,541,689 42,446,105 91,062 49,812 44,632,751 42,495,917 Non-current assets classified as held for sale Current assets Inventories Trade and other receivables Derivative financial instruments Loans and advances to customers Loans to banks Investments in securities Current tax assets Cash and cash equivalents 3,599,163 5,941,246 124,837 6,969,261 653,890 727,240 11,492 6,224,796 24,251,925 68,884,676 3,365,320 5,017,191 8,881 5,731,572 797,970 1,043,016 21,421 4,632,327 20,617,698 63,113,615 TOTAL ASSETS EQUITY AND LIABILITIES Statements of P&l 18-19 compare p&L 18-18 financial position 24,251,925 68,884,676 20,617,698 63,113,615 TOTAL ASSETS EQUITY AND LIABILITIES Capital and reserves Stated capital Redeemable restricted A shares Retained earnings Revaluation, fair value and other reserves 5,072,296 39,233 6,201,102 3,307,689 14,620,320 -234,263 14,386,057 10,362,278 24,748,335 4,251,153 39,233 7,093,502 2,513,783 13,897,671 -243,188 13,654,483 9,722,839 23,377,322 Less treasury shares Owners' interest Non-controlling interests Total equity Non-current liabilities Borrowings Deferred tax liabilities 11,696,430 1,135,809 11,402,613 1,099,920 Retirement benefit obligations Deposits from customers Provisions for other liabilities and charges Other payables and deferred revenue 662,529 1,131,070 12,090 104,218 707,880 636,428 12,919 60,000 Current liabilities Borrowings Trade and other payables Derivative financial instruments Deposits from customers Current tax liabilities Provisions for other liabilities and charges Dividend payable 5,104,146 6,067,764 45,027 17,824,389 123,311 15,992 213,566 29,394,195 44,136,341 5,410,203 4,724,847 34,386 15,340,312 81,831 26,460 198,494 25,816 533 39,736,293 TOTAL LIABILITIES TOTAL EQUITY AND LIABILITIES Statements of P8l 18-19 44 136,341 68,884,676 comnare nel 18.18 39,736,293 63,113,615 Retirement benefit obligations Deposits from customers Provisions for other liabilities and charges Other payables and deferred revenue 662,529 1,131,070 12,090 104,218 14,742,146 707,880 636,428 12,919 60,000 13,919,760 Current liabilities Borrowings Trade and other payables Derivative financial instruments Deposits from customers Current tax liabilities Provisions for other liabilities and charges Dividend payable 5,104,146 6,067,764 45,027 17,824,389 123,311 15,992 213,566 29,394,195 44,136,341 5,410,203 4,724,847 34,386 15,340,312 81,831 26,460 198,494 25,816,533 39,736,293 TOTAL LIABILITIES 44,136,341 39,736,293 TOTAL EQUITY AND LIABILITIES 68,884,676 8.76 63,113,615 8.94 Net asset value per share (MUR) Consolidated and Separate Statements of Financial Position Year ended 30 June 2019 THE GROUP 30 June 2019 MUR'000 30 June 2018 Non-current assets Property, plant and equipment 24,678,838 25,116,821 Investment properties 1,611,573 1,548,101 Intangible assets 1,702,272 3,583,624 Investments in subsidiary companies Investments in joint ventures 1,718,847 1,558,349 Investments in associates 4,297,488 4,746,720 Investments in other financial assets 356,968 382,976 Deposit on investments Loans and advances to customers 3,851,791 4,424,600 Loans to banks 262,974 Investments in securities 3,052,680 2,253,396 Leasehold rights and land prepayments 534,677 538,322 Non-current receivables 51,456 30,379 Deferred income tax assets 161,685 95,427 42,018,275 44,541,689 Non-current assets classified as held for sale 12,726 91,062 42,031,001 44,632,751 Current assets Inventories 3,842,766 3,599,163 Trade and other receivables 6,145,043 5,941,246 Derivative financial instruments 53,044 124,837 8,833,893 6,969,261 Loans to banks 413,309 653,890 Investments in securities 1,446,156 727,240 Current income tax assets 14,002 11,492 Cash and cash equivalents 6,204,956 6,224,796 26,953,169 24,251,925 TOTAL ASSETS 68,984,170 68,884,676 EQUITY AND LIABILITIES Capital and reserves Stated capital 5,099,561 5.072,296 Redeemable restricted A shares 39,233 39,233 Statements of PB, 18-19 compare p&L 18-18 financial positio Cash and cash equivalents 6,204,956 26,953,169 68,984,170 6,224,796 24,251,925 68,884,676 TOTAL ASSETS EQUITY AND LIABILITIES Capital and reserves Stated capital Redeemable restricted A shares Retained earnings Revaluation, fair value and other reserves 5,099,561 39,233 5,115,438 2,830,296 13,084,528 -149,347 12,935,181 9,195,956 22,131,137 5,072,296 39,233 6,201,102 3,307,689 14,620,320 -234,263 14,386,057 10,362,278 24,748,335 Less treasury shares Owners' interest Non-controlling interests Total equity Non-current liabilities Borrowings Deferred income tax liabilities Retirement benefit obligations Deposits from customers 11,706,614 1,208,158 797,035 667,338 11,696,430 1,135,809 662,529 1,131,070 Provisions for other liabilities and charges Other payables and deferred revenue 130,420 193,702 14,703,267 12,090 104,218 14,742,146 Current liabilities Borrowings Trade and other payables Derivative financial instruments Current income tax liabilities 5,739,531 5,104,146 6,585,702 6,067,764 27,375 45,027 19,410,977 17,824,389 113,224 123,311 40,519 15,992 232,438 213,566 32,149,766 29,394, 195 46,853,03344136,341 Dividend payable 46,853,033 44.136,341 TOTAL LIABILITIES Statements of P8l 18-19 compare p&L 18-18 financial posi Other payables and deferred revenue 130,420 193,702 14,703,267 12,090 104,218 14,742,146 Current liabilities Borrowings Trade and other payables Derivative financial instruments Deposits from customers Current income tax liabilities Provisions for other liabilities and charges Dividend payable 5,739,531 6,585,702 27,375 19,410,977 113,224 40,519 232,438 5,104,146 6,067,764 45,027 17,824,389 123,311 15,992 213,566 46,853,033 44, 136,341 TOTAL LIABILITIES TOTAL EQUITY AND LIABILITIES Net asset value per share (MUR) 46,853,033 58,984 170 7.79 44.136,341 68,884,576 3.76 Consolidated and Separate Statements of Financial Position FROM 2018 STATEMENT 30 June 2018 MUR'000 FROM 2019 STATEMENT SU June 2018 VARIANCE MARIA Non-current assets 25116821 is fair 25,116,821 value+amortised 20,928,864 4,187,957 1,548,101 3,583,624 1,548,101 3,583,624 Property, plant and equipment at Fair Value Property, plant and equipment at Amortised Cost Investment properties Intangible assets Investments in subsidiary companies Investments in joint ventures Investments in associates Investments in other financial assets Deposit on investments Loans and advances to customers Loans to banks Investments in securities Leasehold rights and land prepayments Non-current receivables Deferred income tax assets 1,558,349 4,746,720 382,976 1,558,349 4,746,720 382,976 4,424,600 262,974 2,253,396 538,322 30,379 95,427 44,541,689 91,062 44,632,751 4,424,600 262,974 2,253,396 538,322 30,379 95,427 44,541,689 91,062 44,632.751 Non-current assets classified as held-for-sale BOOOOOOOOOOOOOOOOOOOOOOOO 3,599,163 5,941,246 Current assets Inventories Trade and other receivables Derivative financial instruments Loans and advances to customers Loans to banks Investments in securities Current tax assets Cash and cash equivalents 6,969,261 653,890 727,240 11,492 6,224,796 24,251,925 compare p&L 18-18 3,599,163 5,941,246 124,837 6,969,261 653,890 727,240 11,492 6,224,796 24,251,925 financial position 18-19 Statements of P&l 18-19 BCL Current tax assets Cash and cash equivalents 11,492 6,224,796 11,492 6,224,796 68,884,676 68,884,676 TOTAL ASSETS EQUITY AND LIABILITIES Capital and reserves Stated capital Redeemable restricted A shares Retained earnings Revaluation, fair value and other reserves 5,072,296 39,233 6,201,102 3,307,689 14,620,320 -234,263 14,386,057 10,362,278 24,748,335 5,072,296 39,233 6,201 102 3,307,689 14,620,320 -234,263 14,386,057 10,362,278 24,748,335 Less treasury shares Owners' interest Non-controlling interests Total equity Non-current liabilities Borrowings Deferred tax liabilities 11,696,430 1,135,809 11,696,430 1,135,809 3 Retirement benefit obligations 662,529 662,529 Deposits from customers 1,131,070 1,131,070 Provisions for other liabilities and charges 12,090 12,090 Other payables and deferred revenue 104,218 104,218 14,742,146 14,742,146 Current liabilities Borrowings 5,104,146 5,104,146 Trade and other payables 6,067,764 6,067,764 Derivative financial instruments 45,027 45,027 Deposits from customers 17,824,389 17,824,389 Current tax liabilities 123,311 123,311 Provisions for other liabilities and charges 15,992 15,992 Dividend payable 213,566 213,566 29,394,195 29,394,195 44,136,341 44.136.341 TOTA HIARIETIES M16 241AM 1241 Statements of P&l 18-19 compare p&L 18-18 financial position 18-19 looooooooooooooo Retirement benefit obligations Deposits from customers Provisions for other liabilities and charges Other payables and deferred revenue 662,529 1,131,070 12,090 104,218 662,529 1,131,070 12,090 104,218 Current liabilities Borrowings Trade and other payables Derivative financial instruments Deposits from customers Current tax liabilities Provisions for other liabilities and charges Dividend payable 5,104,146 6,067,764 45,027 17,824,389 123,311 15,992 213,566 29,394,195 44,136,341 44,136,341 5,104,146 6,067,764 45,027 17,824,389 123,311 15,992 213,566 29,394,195 44,136,341 44,136,341 0 0 0 0 0 TOTAL LIABILITIES TOTAL EQUITY AND LIABILITIES Net asset value per share (MUR) 68,884,676 8.76 68,884,676 8.76 Consolidated and Separate Statements of Cash Flow Year ended 30 June 2018 THE GROUP Restated 2018 2017 MUR'000 MUR'000 Cash flows from operating activities Cash generated from operations 4,569,342 2,867,776 -780,711 -712,387 Interest received 26,614 2 6,255 Rent received 24,095 -154,482 -362,764 Net cash generated from operating activities 3,660,763 1,842,975 Cash flows from investing activities Purchase of property, plant and equipment -1,420,480 -2,261,403 Purchase of investment properties -601 -3,066 Acquisition of interests in subsidiary company -21,150 Net cash outflow from acquisition of business operations -619,799 Disposal of interest in subsidiary company 491 Changes in deposit on investments Purchase of investments in associated companies -5,611 -10,810 Purchase of investments in joint ventures -19,318 Purchase of available-for-sale financial assets -52,036 -30,722 Purchase of intangible assets -87,135 -184,346 Purchase of leasehold rights -253,069 Redemption of investment 12,960 Proceeds from disposal of leasehold rights 80,000 Proceeds from disposal of property, plant and equipment 45,228 35,374 Proceeds from disposal of investment property 2,037 36,406 compare p&L 18-18 financial position 18-19 compare financia 80,000 45,228 2,037 91,620 35,374 36,406 67,739 30,119 Proceeds from disposal of leasehold rights Proceeds from disposal of property, plant and equipment Proceeds from disposal of investment property Dividends received from associates and joint ventures Proceeds from disposal of held-for-sale financial assets Proceeds from disposal of available for sale financial assets Net cash (used in)/generated from investing activities Cash flow from financing activities Proceeds from borrowings Repayment of borrowings Issue of shares to non-controlling interests Dividends paid to non-controlling interests Dividends and tax paid by foreign subsidiary Dividends paid Net cash generated from/(used in) financing activities Increase 21,042 -1,535,926 82,158 -2,928,446 2,657,332 -2,967,883 594,542 -387,894 8,989,122 -5,863,480 2,683 -601,812 -51,877 -274,529 2,200, 107 1,114,636 -313,333 -417,236 1,707,601 Movement in cash and cash equivalents At 1 July 3,180,501 2,052,337 Exchange differences Increase At 30 June -207,335 1,707,601 4,680,767 13,528 1,114,636 3,180 501 Consolidated and Separate Statements of Cash Flows Year ended 30 June 2019 THE GROUP 2019 2018 MUR'000 MUR'000 Cash flows from operating activities Cash generated from operations 2,489,168 4,569,342 Interest paid -812,721 -780,711 Interest received 32,138 26,614 Tax paid -399,817 -154,482 Net cash generated from operating activities 1,308,768 3,660,763 Cash flows from investing activities Purchase of property, plant and equipment (PPE) -1,163,127 -1,420,480 Purchase of investment properties -1,875 -601 Acquisition of interests in subsidiary company -100,630 Purchase of investments in associated companies -2,128 -5,611 Purchase of other financial assets -34,532 -52,036 Purchase of intangible assets -75,435 -87,135 Purchase of leasehold rights -126,308 -253,069 Redemption of investment 62,766 12,960 Proceeds from disposal of intangible asset 8,625 Proceeds from disposal of leasehold rights 80,000 Proceeds from disposal of PPE 48,946 45,228 Proceeds from disposal of investment property 2,037 Dividends received from associates and joint ventures 113,726 91,620 Proceeds from disposal of held-for-sale assets 107,564 30,119 Proceeds from disposal of financial assets 47,138 21,042 Net movement in non-current receivables -14,077 Net cash used in investing activities -1,129,347 -1,535,926 Cash flow from financing activities Proceeds from borrowings 1,815,708 2,657,332 Repayment of borrowings -1,312,295 -2,967,883 issue of shares to non-controlling interests 594,542 Dividends paid to non-controlling interests -368,410 387,894 Dividends paid to executive directors -5,599 Dividends paid -328,564 -315,333 compare p&L 18-18 financial position 18-19 compare finang -126,308 62,766 8,625 -253,069 12,960 48,946 80,000 45,228 2,037 91,620 113,726 107,564 47,138 -14,077 -1,129,347 21,042 -1,535,926 Purchase of leasehold rights Redemption of investment Proceeds from disposal of intangible asset Proceeds from disposal of leasehold rights Proceeds from disposal of PPE Proceeds from disposal of investment property Dividends received from associates and joint ventures Proceeds from disposal of held-for-sale assets Proceeds from disposal of financial assets Net movement in non-current receivables Net cash used in investing activities Cash flow from financing activities Proceeds from borrowings Repayment of borrowings Issue of shares to non-controlling interests Dividends paid to non-controlling interests Dividends paid to executive directors Dividends paid Net cash (used in)/generated from financing activities (Decrease) / increase Movement in cash and cash equivalents At 1 July Exchange differences Increase At 30 June 1,815,708 -1,312,295 2,657,332 -2,967,883 594,542 -387,894 -368,410 -5,599 -328,564 -199,160 -19,739 -313,333 -417,236 1,707,601 4,680,767 -159,670 -19,739 4,501,358 3,180,501 -207,335 1,707,601 4,680,767 Consolidated and Separate Statements of Cash Flow FROM 2018 FROM 2019 STATEMENT STATEMENT 2018 2018 MUR'000 MUR'000 VARIANCE Cash flows from operating activities Cash generated from operations 4,569,342 4,569,342 0 Interest paid -780,711 -780,711 0 Interest received 26,614 26,614 0 Rent received Tax paid -154,482 -154,482 Net cash generated from operating activities 3,660,763 3,660,763 Cash flows from investing activities Purchase of property, plant and equipment -1,420,480 -1,420,480 Purchase of investment properties -601 -601 Acquisition of interests in subsidiary company Net cash outflow from acquisition of business operations Disposal of interest in subsidiary company Changes in deposit on investments Purchase of investments in associated companies -5,611 -5,611 Purchase of investments in joint ventures Purchase of available-for-sale financial assets -52,036 -52,036 Purchase of intangible assets -87,135 -87,135 Purchase of leasehold rights -253,069 -253,069 Redemption of investment 12,960 12.960 Proceeds from disposal of leasehold rights 80,000 80,000 Proceeds from disposal of property, plant and equipment 45,228 45,228 Proceeds from disposal of investment property 2,037 2,037 Dividends received from associates and joint venture: 91,620 91,620 Proceeds from disposal of held-for-sale financial financial position 18-19 compare financialposition 18-18 cash flow 18-1 OOOOOOOOO -5,611 -5,611 -52,036 -87,135 -253,069 12,960 80,000 -52,036 -87,135 -253,069 12,960 80,000 45,228 2,037 91,620 45,228 2,037 91,620 Disposal of interest in subsidiary company Changes in deposit on investments Purchase of investments in associated companies Purchase of investments in joint ventures Purchase of available-for-sale financial assets Purchase of intangible assets Purchase of leasehold rights Redemption of investment Proceeds from disposal of leasehold rights Proceeds from disposal of property, plant and equipment Proceeds from disposal of investment property Dividends received from associates and joint venture! Proceeds from disposal of held-for-sale financial assets Proceeds from disposal of available-for-sale financial assets Net cash (used in /generated from investing activities Cash flow from financing activities Proceeds from borrowings Repayment of borrowings Issue of shares to non-controlling interests Dividends paid to non-controlling interests Dividends and tax paid by foreign subsidiary Dividends paid Net cash generated from/(used in) financing activities Increase Movement in cash and cash equivalents At 1 July Exchange differences 30,119 30,119 OOOOOOOOOOOOOOOOOOOOOOO 21,042 -1,535,926 21,042 -1,535,926 2,657,332 -2,967,883 594,542 -387,894 2,657,332 -2,967,883 594,542 -387,894 -313,333 -417,236 1,707,601 -313,333 -417,236 1,707,601 3,180,501 -207,335 3,180,501 207,335 Consolidated Statements of Changes in Equity Year ended 30 June 2018 2. THE GROUP Attributable to Owners of the Parent Share Appreciatio Redeemabl n Rights & Revaluatio Non- Stated e Restricted Treasury Other Fair Value n and Other Retained Controlling Total Capital A Shares Shares Scheme Reserve Reserves Earnings Total Interests Equity MUR'000 MUR'000 MUR'000 MUR'000 MUR'000 MUR'OOO MUR'000 MUR'000 MUR'000 MUR'000 4 Balance at 1 July 2017 5 As previously stated 4,251,153 39,233 -243,188 30,359 73,164 2,612,170 7,141,535 13,904,4269,759,140 23,663,566 6 Prior year adjustment -201,910 48,033 - 249,943 -36,302 - 286,245 7 As restated 4,251,153 39,233 -243,188 30,359 73.164 2.410,260 7,093,502 13,654,483 9,722,838 23,377,321 8 Profit for the year 441,817 441,817 648,519 1,090,336 Other comprehensive income for the 9 year 4,763 309,621 314,384 173,454 487,838 Total comprehensive income for the 10 year 4,763 309,621 441,817 756,201 821,973 1,578,174 11 Issue of shares 818,876 818,876 818,876 12 Treasury shares acquired Issue of shares to non-controlling 13 interests 928,035 928,035 Change in ownership interest that do 14 not result in a loss of control -517,927 -517,927 -676,682 -1,194,609 5 Employee share option scheme 2,267 8,925 -5,536 5,656 5,656 Dividends and tax paid by foreign 6 subsidiary Dividends -328,409 -328,409 -428,213 -756,622 8 Other movements 23,567 - 26,856 -3,289 207 -3,082 Total transactions with owners of the 19 parent 821,143 8,925 -5,536 23,567 -873,192 -25,093 -176,653 -201,746 Movement in reserves of joint ventures and associates 461,491 -461,025 466 5,880 -5,414 1 Balance at 30 June 2018 5,072.296 39,233 -234,263 24,823 77,927 3,204,939 6,201,102 14,386,057 10,362,278 24,748,335 Consolidated Statements of Changes in Equity Year ended 30 June 2019 THE GROUP Attributable to Owners of the Parent Share Appreciatio Redeemabl n Rights & Revaluatio Non- Stated e Restricted Treasury Other Fair Value n and Other Retained Controlling Total Capital A Shares Shares Scheme Reserve Reserves Earnings Total Interests Equity MUR'000 MUR'000 MUR'000 MUR'000 MUR'000 MUR'000 MUR'000 MUR'000 MUR'000 MURVOO 5,072,296 39,233 -234,263 77,927 3,204,939 6,201, 102 14,386,057 10,362,278 24,748,335 13,144 13,144 50,481 63,625 -18,594 -18,594 -18,519 -37,113 5,072,296 39,233 234,263 24,823 77,927 3,204,939 6,195,652 14,380,607 10,394,240 24,774,847 -860,428 -860,428 -328,633 1,189,061 -35,369 -487,741 -15,214 5 38,324 -205,648 743,972 1 Balance at 1 July 2018 2 Effect of adoption of IFRS 9 3 Effect of adoption of IFRS 15 14 Restated balance at 1 July 2018 45 Profit for the year Other comprehensive income for the 46 year Total comprehensive income for the 47 year Transactions with owners in their 48 capacity as owners 49 Issue of shares Change in ownership interest that do 50 not result in a loss of control 51 Employee share option scheme 52 Dividends 53 Other movements Total transactions with owners of the 54 parent 55 Balance at 30 June 2019 56 22,979 75,815 98,794 98,794 193,954 193,954 4,286 9,101 -5,373 193,954 8,014 347,436 -347,436 -51,090 468,963 -1,086 -816,399 -1,086 51,090 27,265 5,099,561 84,916 -149,347 -5,373 19,450 51,090 2.768,288 -204,572 5,115,438 -46,674 12,935,181 -664,003 9.195,956 718,691 22.123,123 39,233 42.558 Consolidated Statements of Changes in Equity THE GROUP Attributable to Owners of the Parent Appreciation Rights & Relation Stated Restricted A Treasury Other Fair V and Other Retained Controlling Capital Shares shares Scheme Reserve Reserves Cornings Total interests Total Equity MUR'OCO MURODO MURO MUR DOO MURO MUROMURODO MURDO MUR'000 MUNDO 4 Balance at June 2018 Balance at 1 July 2015 5,072,296 39233-234263 2683 77,927 3:204, 201,102 14,186057 10.362224 Consolidated and Separate Statements of Profit or Loss and Other Comprehensive Income Year ended 30 June 2019 THE GROUP 2019 MUR'OOO 2018 MUR'OOO 24,206,459 22,608,499 2,952,622 1,165,936 1,786,686 REVENUE Normalised earnings before interest, tax, depreciation and amortisation Depreciation and amortisation Normalised earnings before interest and tax Impairment of goodwill Impairment of other non-financial assets Finance income Finance costs Share of results of joint ventures Share of results of associates (Loss)/profit before income tax Income tax expense (Loss)/profit for the year (Loss)/profit attributable to: Owners of the parent Non-controlling interests 3,443,392 -1,215,821 2,227,571 -1,877,286 -200,841 32,138 -812,721 161,215 -283,096 -753,020 -436,041 -1,189,061 26,614 -780,711 272,237 74,084 1,378,910 -288,574 1,090,336 -860,428 -328,633 -1,189,061 -0.52 441,817 648,519 1,090,336 0.27 Basic and diluted (loss/earnings per share (Loss)/profit for the year -1,189,061 1,090,336 Other comprehensive income: items that will not be reclassified to profit or loss: Impairment of property, plant and equipment -393,238 Deferred income tax on property, plant and equipment 61,370 Gain on revaluation of land and buildings 65,954 706,216 Deferred income tax on revaluation gain -12,322 -64,851 Remeasurements of post-employment benefit obligations -94,099 Deferred income tax on remeasurements of postemployment 52,122 benefit obligations 1,522 hanges equity 18-19 -17,902 compare changes equity 18-18 ASSESSMENT 2 CSR Consolidated and Separate Statements of Profit or Loss and Other Comprehensive Income FROM 2019 FROM 2018 STATEMENT STATEMENT 2018 2018 MUR'000 MUR'000 VARIANCE 22,608,499 22,608,499 0 2,952,622 -1,165,936 1,786,686 2,952,622 -1,165,936 1,786,686 0 0 0 REVENUE Normalised earnings before interest, tax, depreciation and amortisation Depreciation and amortisation Normalised earnings before interest and tax Impairment of goodwill Impairment of other non-financial assets Finance income Finance costs Share of results of joint ventures Share of results of associates (Loss)/profit before income tax Income tax expense (Loss)/profit for the year (Loss)/profit attributable to: Owners of the parent Non-controlling interests 0 26,614 -780,711 272,237 74,084 1,378,910 -288,574 1,090,336 26,614 -780,711 272,237 74,084 1,378,910 288,574 1,090,336 0 441,817 648,519 1,090,336 0.27 1,090,336 441,817 648,519 1,090,336 0.27 1,090,336 0 0 0 0 Basic and diluted (loss)/earnings per share (Loss)/profit for the year Other comprehensive income: items that will not be reclassified to profit or loss: Impairment of property, plant and equipment Deferred income tavan nranart nlant and enuinment Statements of P&l 18-19 compare p&L 18-18 financial position 18-19 compa 0.27 1,090,336 0.27 1,090,336 0 0 706,216 -64,851 52,122 706,216 -64,851 52,122 0 0 0 -17,902 -17,902 0 Basic and diluted (loss)/earnings per share (Loss)/profit for the year Other comprehensive income: Items that will not be reclassified to profit or loss: Impairment of property, plant and equipment Deferred income tax on property, plant and equipment Gain on revaluation of land and buildings Deferred income tax on revaluation gain Remeasurements of post-employment benefit obligations Deferred income tax on remeasurements of postemployment benefit obligations Change in the fair value of equity instruments at fair value through other comprehensive income Share of other comprehensive income of associates and joint ventur Items that may be reclassified to profit or loss: Change in the fair value of available-for-sale financial assets Currency translation differences Cash flow hedges Deferred income tax on cash flow hedges Other comprehensive income for the year, net of tax Total comprehensive income for the year Total comprehensive income attributable to: Owners of the parent 79,366 79,366 110,070 -366,794 -1,674 -8,715 487,838 1,578,174 110,070 -366,794 -1,674 -8,715 487,838 1,578,174 0 0 0 0 756,201 756,2010 Non-controlling interests 821,973 1.578,174 821,9730 1,578,174 0 Consolidated and Separate Statements of Profit or Loss and other Comprehensive Income Year ended 30 June 2018 THE GROUP 2018 MUR'000 2017 MUR'000 REVENUE 22,608,499 20,660,562 Earnings before interests, taxation, depreciation and amortisation Depreciation and amortisation Earnings before interests and taxation Finance income Finance costs Share of results of joint ventures Share of results of associates Profit before taxation Income tax Profit for the year Profit attributable to: Owners of the parent Non-controlling interests 2,952,622 -1,165,936 1,786,686 26,614 -780,711 272,237 74,084 1,378,910 -288,574 1,090,336 2,845,480 -975,594 1,869,886 38,407 -724,539 140,181 88,269 1,412,204 -291,947 1,120,257 441,817 648,519 1,090,336 0.27 1,090,336 458,570 661,687 1,120,257 0.3 1,120,257 Basic and Diluted Earnings per share Profit for the year Other comprehensive income: Items that will not be reclassified to profit or loss: Gain on revaluation of land and buildings Deferred tax on revaluation gain Share of other comprehensive income of associates and joint ventures Remeasurements of post employment benefit obligations Statements of P&l 18-19 compare p&L 18-18 706,216 -64,851 371,157 -13,296 -17,343 52,122 -63,538 financial position 18-19 latarren van am a mante Arratiraman banat 1,090,336 0.27 1,120,257 0.3 1,090,336 1,120,257 Basic and Diluted Earnings per share Profit for the year Other comprehensive income: Items that will not be reclassified to profit or loss: Gain on revaluation of land and buildings Deferred tax on revaluation gain 706,216 -64,851 371,157 -13,296 52,122 -17,902 -17,343 -63,538 7,195 110,070 -90,851 79,366 ventures Remeasurements of post employment benefit obligations Deferred tax on remeasurements of post retirement benefit nblipations items that may be reclassified subsequently to profit or loss: Change in value of available-for-sale financial assets Share of other comprehensive income of associates and joint ventures Impairment of investments Currency translation differences Cash flow hedges Deferred tax on cash flow hedges Other comprehensive income for the year Total comprehensive income for the year Total comprehensive income attributable to: Owners of the parent -199,761 137,918 -366,794 -1,674 -8,715 487,838 1,578,174 -48,955 -2,279 -83,122 1,037,135 756,201 363,614 Non-controlling interests 821,973 1,578,174 673,521 1,037,135 Conclidated and Senarate statements of Drafie Consolidated and Separate Statements of Financial Position Year ended 30 June 2018 THE GROUP 30 June 2018 MUR'000 30 June 2017 MLD ON Non-current assets Property, plant and equipment at Fair Value Property, plant and equipment at Amortised Cost Investment properties Intangible assets 20,928,864 4,187,957 1,548,101 3,583,624 20,212,956 4,116,482 1,575,640 3,600,635 1,558,349 4,746,720 382,976 1,367,847 4,611,465 254,734 Investments in joint ventures Investments in associates Investments in other financial assets Deposit on investments Loans and advances to customers Loans to banks Investments in securities Leasehold rights and land prepayments Non-current receivables Deferred income tax assets 4,424,600 4,364,504 262,974 2,253,396 1,749,147 538,322 421,612 30,379 29,442 95,427 141,641 44,541,689 42,446,105 91,062 49,812 44,632,751 42,495,917 Non-current assets classified as held for sale Current assets Inventories Trade and other receivables Derivative financial instruments Loans and advances to customers Loans to banks Investments in securities Current tax assets Cash and cash equivalents 3,599,163 5,941,246 124,837 6,969,261 653,890 727,240 11,492 6,224,796 24,251,925 68,884,676 3,365,320 5,017,191 8,881 5,731,572 797,970 1,043,016 21,421 4,632,327 20,617,698 63,113,615 TOTAL ASSETS EQUITY AND LIABILITIES Statements of P&l 18-19 compare p&L 18-18 financial position 24,251,925 68,884,676 20,617,698 63,113,615 TOTAL ASSETS EQUITY AND LIABILITIES Capital and reserves Stated capital Redeemable restricted A shares Retained earnings Revaluation, fair value and other reserves 5,072,296 39,233 6,201,102 3,307,689 14,620,320 -234,263 14,386,057 10,362,278 24,748,335 4,251,153 39,233 7,093,502 2,513,783 13,897,671 -243,188 13,654,483 9,722,839 23,377,322 Less treasury shares Owners' interest Non-controlling interests Total equity Non-current liabilities Borrowings Deferred tax liabilities 11,696,430 1,135,809 11,402,613 1,099,920 Retirement benefit obligations Deposits from customers Provisions for other liabilities and charges Other payables and deferred revenue 662,529 1,131,070 12,090 104,218 707,880 636,428 12,919 60,000 Current liabilities Borrowings Trade and other payables Derivative financial instruments Deposits from customers Current tax liabilities Provisions for other liabilities and charges Dividend payable 5,104,146 6,067,764 45,027 17,824,389 123,311 15,992 213,566 29,394,195 44,136,341 5,410,203 4,724,847 34,386 15,340,312 81,831 26,460 198,494 25,816 533 39,736,293 TOTAL LIABILITIES TOTAL EQUITY AND LIABILITIES Statements of P8l 18-19 44 136,341 68,884,676 comnare nel 18.18 39,736,293 63,113,615 Retirement benefit obligations Deposits from customers Provisions for other liabilities and charges Other payables and deferred revenue 662,529 1,131,070 12,090 104,218 14,742,146 707,880 636,428 12,919 60,000 13,919,760 Current liabilities Borrowings Trade and other payables Derivative financial instruments Deposits from customers Current tax liabilities Provisions for other liabilities and charges Dividend payable 5,104,146 6,067,764 45,027 17,824,389 123,311 15,992 213,566 29,394,195 44,136,341 5,410,203 4,724,847 34,386 15,340,312 81,831 26,460 198,494 25,816,533 39,736,293 TOTAL LIABILITIES 44,136,341 39,736,293 TOTAL EQUITY AND LIABILITIES 68,884,676 8.76 63,113,615 8.94 Net asset value per share (MUR) Consolidated and Separate Statements of Financial Position Year ended 30 June 2019 THE GROUP 30 June 2019 MUR'000 30 June 2018 Non-current assets Property, plant and equipment 24,678,838 25,116,821 Investment properties 1,611,573 1,548,101 Intangible assets 1,702,272 3,583,624 Investments in subsidiary companies Investments in joint ventures 1,718,847 1,558,349 Investments in associates 4,297,488 4,746,720 Investments in other financial assets 356,968 382,976 Deposit on investments Loans and advances to customers 3,851,791 4,424,600 Loans to banks 262,974 Investments in securities 3,052,680 2,253,396 Leasehold rights and land prepayments 534,677 538,322 Non-current receivables 51,456 30,379 Deferred income tax assets 161,685 95,427 42,018,275 44,541,689 Non-current assets classified as held for sale 12,726 91,062 42,031,001 44,632,751 Current assets Inventories 3,842,766 3,599,163 Trade and other receivables 6,145,043 5,941,246 Derivative financial instruments 53,044 124,837 8,833,893 6,969,261 Loans to banks 413,309 653,890 Investments in securities 1,446,156 727,240 Current income tax assets 14,002 11,492 Cash and cash equivalents 6,204,956 6,224,796 26,953,169 24,251,925 TOTAL ASSETS 68,984,170 68,884,676 EQUITY AND LIABILITIES Capital and reserves Stated capital 5,099,561 5.072,296 Redeemable restricted A shares 39,233 39,233 Statements of PB, 18-19 compare p&L 18-18 financial positio Cash and cash equivalents 6,204,956 26,953,169 68,984,170 6,224,796 24,251,925 68,884,676 TOTAL ASSETS EQUITY AND LIABILITIES Capital and reserves Stated capital Redeemable restricted A shares Retained earnings Revaluation, fair value and other reserves 5,099,561 39,233 5,115,438 2,830,296 13,084,528 -149,347 12,935,181 9,195,956 22,131,137 5,072,296 39,233 6,201,102 3,307,689 14,620,320 -234,263 14,386,057 10,362,278 24,748,335 Less treasury shares Owners' interest Non-controlling interests Total equity Non-current liabilities Borrowings Deferred income tax liabilities Retirement benefit obligations Deposits from customers 11,706,614 1,208,158 797,035 667,338 11,696,430 1,135,809 662,529 1,131,070 Provisions for other liabilities and charges Other payables and deferred revenue 130,420 193,702 14,703,267 12,090 104,218 14,742,146 Current liabilities Borrowings Trade and other payables Derivative financial instruments Current income tax liabilities 5,739,531 5,104,146 6,585,702 6,067,764 27,375 45,027 19,410,977 17,824,389 113,224 123,311 40,519 15,992 232,438 213,566 32,149,766 29,394, 195 46,853,03344136,341 Dividend payable 46,853,033 44.136,341 TOTAL LIABILITIES Statements of P8l 18-19 compare p&L 18-18 financial posi Other payables and deferred revenue 130,420 193,702 14,703,267 12,090 104,218 14,742,146 Current liabilities Borrowings Trade and other payables Derivative financial instruments Deposits from customers Current income tax liabilities Provisions for other liabilities and charges Dividend payable 5,739,531 6,585,702 27,375 19,410,977 113,224 40,519 232,438 5,104,146 6,067,764 45,027 17,824,389 123,311 15,992 213,566 46,853,033 44, 136,341 TOTAL LIABILITIES TOTAL EQUITY AND LIABILITIES Net asset value per share (MUR) 46,853,033 58,984 170 7.79 44.136,341 68,884,576 3.76 Consolidated and Separate Statements of Financial Position FROM 2018 STATEMENT 30 June 2018 MUR'000 FROM 2019 STATEMENT SU June 2018 VARIANCE MARIA Non-current assets 25116821 is fair 25,116,821 value+amortised 20,928,864 4,187,957 1,548,101 3,583,624 1,548,101 3,583,624 Property, plant and equipment at Fair Value Property, plant and equipment at Amortised Cost Investment properties Intangible assets Investments in subsidiary companies Investments in joint ventures Investments in associates Investments in other financial assets Deposit on investments Loans and advances to customers Loans to banks Investments in securities Leasehold rights and land prepayments Non-current receivables Deferred income tax assets 1,558,349 4,746,720 382,976 1,558,349 4,746,720 382,976 4,424,600 262,974 2,253,396 538,322 30,379 95,427 44,541,689 91,062 44,632,751 4,424,600 262,974 2,253,396 538,322 30,379 95,427 44,541,689 91,062 44,632.751 Non-current assets classified as held-for-sale BOOOOOOOOOOOOOOOOOOOOOOOO 3,599,163 5,941,246 Current assets Inventories Trade and other receivables Derivative financial instruments Loans and advances to customers Loans to banks Investments in securities Current tax assets Cash and cash equivalents 6,969,261 653,890 727,240 11,492 6,224,796 24,251,925 compare p&L 18-18 3,599,163 5,941,246 124,837 6,969,261 653,890 727,240 11,492 6,224,796 24,251,925 financial position 18-19 Statements of P&l 18-19 BCL Current tax assets Cash and cash equivalents 11,492 6,224,796 11,492 6,224,796 68,884,676 68,884,676 TOTAL ASSETS EQUITY AND LIABILITIES Capital and reserves Stated capital Redeemable restricted A shares Retained earnings Revaluation, fair value and other reserves 5,072,296 39,233 6,201,102 3,307,689 14,620,320 -234,263 14,386,057 10,362,278 24,748,335 5,072,296 39,233 6,201 102 3,307,689 14,620,320 -234,263 14,386,057 10,362,278 24,748,335 Less treasury shares Owners' interest Non-controlling interests Total equity Non-current liabilities Borrowings Deferred tax liabilities 11,696,430 1,135,809 11,696,430 1,135,809 3 Retirement benefit obligations 662,529 662,529 Deposits from customers 1,131,070 1,131,070 Provisions for other liabilities and charges 12,090 12,090 Other payables and deferred revenue 104,218 104,218 14,742,146 14,742,146 Current liabilities Borrowings 5,104,146 5,104,146 Trade and other payables 6,067,764 6,067,764 Derivative financial instruments 45,027 45,027 Deposits from customers 17,824,389 17,824,389 Current tax liabilities 123,311 123,311 Provisions for other liabilities and charges 15,992 15,992 Dividend payable 213,566 213,566 29,394,195 29,394,195 44,136,341 44.136.341 TOTA HIARIETIES M16 241AM 1241 Statements of P&l 18-19 compare p&L 18-18 financial position 18-19 looooooooooooooo Retirement benefit obligations Deposits from customers Provisions for other liabilities and charges Other payables and deferred revenue 662,529 1,131,070 12,090 104,218 662,529 1,131,070 12,090 104,218 Current liabilities Borrowings Trade and other payables Derivative financial instruments Deposits from customers Current tax liabilities Provisions for other liabilities and charges Dividend payable 5,104,146 6,067,764 45,027 17,824,389 123,311 15,992 213,566 29,394,195 44,136,341 44,136,341 5,104,146 6,067,764 45,027 17,824,389 123,311 15,992 213,566 29,394,195 44,136,341 44,136,341 0 0 0 0 0 TOTAL LIABILITIES TOTAL EQUITY AND LIABILITIES Net asset value per share (MUR) 68,884,676 8.76 68,884,676 8.76 Consolidated and Separate Statements of Cash Flow Year ended 30 June 2018 THE GROUP Restated 2018 2017 MUR'000 MUR'000 Cash flows from operating activities Cash generated from operations 4,569,342 2,867,776 -780,711 -712,387 Interest received 26,614 2 6,255 Rent received 24,095 -154,482 -362,764 Net cash generated from operating activities 3,660,763 1,842,975 Cash flows from investing activities Purchase of property, plant and equipment -1,420,480 -2,261,403 Purchase of investment properties -601 -3,066 Acquisition of interests in subsidiary company -21,150 Net cash outflow from acquisition of business operations -619,799 Disposal of interest in subsidiary company 491 Changes in deposit on investments Purchase of investments in associated companies -5,611 -10,810 Purchase of investments in joint ventures -19,318 Purchase of available-for-sale financial assets -52,036 -30,722 Purchase of intangible assets -87,135 -184,346 Purchase of leasehold rights -253,069 Redemption of investment 12,960 Proceeds from disposal of leasehold rights 80,000 Proceeds from disposal of property, plant and equipment 45,228 35,374 Proceeds from disposal of investment property 2,037 36,406 compare p&L 18-18 financial position 18-19 compare financia 80,000 45,228 2,037 91,620 35,374 36,406 67,739 30,119 Proceeds from disposal of leasehold rights Proceeds from disposal of property, plant and equipment Proceeds from disposal of investment property Dividends received from associates and joint ventures Proceeds from disposal of held-for-sale financial assets Proceeds from disposal of available for sale financial assets Net cash (used in)/generated from investing activities Cash flow from financing activities Proceeds from borrowings Repayment of borrowings Issue of shares to non-controlling interests Dividends paid to non-controlling interests Dividends and tax paid by foreign subsidiary Dividends paid Net cash generated from/(used in) financing activities Increase 21,042 -1,535,926 82,158 -2,928,446 2,657,332 -2,967,883 594,542 -387,894 8,989,122 -5,863,480 2,683 -601,812 -51,877 -274,529 2,200, 107 1,114,636 -313,333 -417,236 1,707,601 Movement in cash and cash equivalents At 1 July 3,180,501 2,052,337 Exchange differences Increase At 30 June -207,335 1,707,601 4,680,767 13,528 1,114,636 3,180 501 Consolidated and Separate Statements of Cash Flows Year ended 30 June 2019 THE GROUP 2019 2018 MUR'000 MUR'000 Cash flows from operating activities Cash generated from operations 2,489,168 4,569,342 Interest paid -812,721 -780,711 Interest received 32,138 26,614 Tax paid -399,817 -154,482 Net cash generated from operating activities 1,308,768 3,660,763 Cash flows from investing activities Purchase of property, plant and equipment (PPE) -1,163,127 -1,420,480 Purchase of investment properties -1,875 -601 Acquisition of interests in subsidiary company -100,630 Purchase of investments in associated companies -2,128 -5,611 Purchase of other financial assets -34,532 -52,036 Purchase of intangible assets -75,435 -87,135 Purchase of leasehold rights -126,308 -253,069 Redemption of investment 62,766 12,960 Proceeds from disposal of intangible asset 8,625 Proceeds from disposal of leasehold rights 80,000 Proceeds from disposal of PPE 48,946 45,228 Proceeds from disposal of investment property 2,037 Dividends received from associates and joint ventures 113,726 91,620 Proceeds from disposal of held-for-sale assets 107,564 30,119 Proceeds from disposal of financial assets 47,138 21,042 Net movement in non-current receivables -14,077 Net cash used in investing activities -1,129,347 -1,535,926 Cash flow from financing activities Proceeds from borrowings 1,815,708 2,657,332 Repayment of borrowings -1,312,295 -2,967,883 issue of shares to non-controlling interests 594,542 Dividends paid to non-controlling interests -368,410 387,894 Dividends paid to executive directors -5,599 Dividends paid -328,564 -315,333 compare p&L 18-18 financial position 18-19 compare finang -126,308 62,766 8,625 -253,069 12,960 48,946 80,000 45,228 2,037 91,620 113,726 107,564 47,138 -14,077 -1,129,347 21,042 -1,535,926 Purchase of leasehold rights Redemption of investment Proceeds from disposal of intangible asset Proceeds from disposal of leasehold rights Proceeds from disposal of PPE Proceeds from disposal of investment property Dividends received from associates and joint ventures Proceeds from disposal of held-for-sale assets Proceeds from disposal of financial assets Net movement in non-current receivables Net cash used in investing activities Cash flow from financing activities Proceeds from borrowings Repayment of borrowings Issue of shares to non-controlling interests Dividends paid to non-controlling interests Dividends paid to executive directors Dividends paid Net cash (used in)/generated from financing activities (Decrease) / increase Movement in cash and cash equivalents At 1 July Exchange differences Increase At 30 June 1,815,708 -1,312,295 2,657,332 -2,967,883 594,542 -387,894 -368,410 -5,599 -328,564 -199,160 -19,739 -313,333 -417,236 1,707,601 4,680,767 -159,670 -19,739 4,501,358 3,180,501 -207,335 1,707,601 4,680,767 Consolidated and Separate Statements of Cash Flow FROM 2018 FROM 2019 STATEMENT STATEMENT 2018 2018 MUR'000 MUR'000 VARIANCE Cash flows from operating activities Cash generated from operations 4,569,342 4,569,342 0 Interest paid -780,711 -780,711 0 Interest received 26,614 26,614 0 Rent received Tax paid -154,482 -154,482 Net cash generated from operating activities 3,660,763 3,660,763 Cash flows from investing activities Purchase of property, plant and equipment -1,420,480 -1,420,480 Purchase of investment properties -601 -601 Acquisition of interests in subsidiary company Net cash outflow from acquisition of business operations Disposal of interest in subsidiary company Changes in deposit on investments Purchase of investments in associated companies -5,611 -5,611 Purchase of investments in joint ventures Purchase of available-for-sale financial assets -52,036 -52,036 Purchase of intangible assets -87,135 -87,135 Purchase of leasehold rights -253,069 -253,069 Redemption of investment 12,960 12.960 Proceeds from disposal of leasehold rights 80,000 80,000 Proceeds from disposal of property, plant and equipment 45,228 45,228 Proceeds from disposal of investment property 2,037 2,037 Dividends received from associates and joint venture: 91,620 91,620 Proceeds from disposal of held-for-sale financial financial position 18-19 compare financialposition 18-18 cash flow 18-1 OOOOOOOOO -5,611 -5,611 -52,036 -87,135 -253,069 12,960 80,000 -52,036 -87,135 -253,069 12,960 80,000 45,228 2,037 91,620 45,228 2,037 91,620 Disposal of interest in subsidiary company Changes in deposit on investments Purchase of investments in associated companies Purchase of investments in joint ventures Purchase of available-for-sale financial assets Purchase of intangible assets Purchase of leasehold rights Redemption of investment Proceeds from disposal of leasehold rights Proceeds from disposal of property, plant and equipment Proceeds from disposal of investment property Dividends received from associates and joint venture! Proceeds from disposal of held-for-sale financial assets Proceeds from disposal of available-for-sale financial assets Net cash (used in /generated from investing activities Cash flow from financing activities Proceeds from borrowings Repayment of borrowings Issue of shares to non-controlling interests Dividends paid to non-controlling interests Dividends and tax paid by foreign subsidiary Dividends paid Net cash generated from/(used in) financing activities Increase Movement in cash and cash equivalents At 1 July Exchange differences 30,119 30,119 OOOOOOOOOOOOOOOOOOOOOOO 21,042 -1,535,926 21,042 -1,535,926 2,657,332 -2,967,883 594,542 -387,894 2,657,332 -2,967,883 594,542 -387,894 -313,333 -417,236 1,707,601 -313,333 -417,236 1,707,601 3,180,501 -207,335 3,180,501 207,335 Consolidated Statements of Changes in Equity Year ended 30 June 2018 2. THE GROUP Attributable to Owners of the Parent Share Appreciatio Redeemabl n Rights & Revaluatio Non- Stated e Restricted Treasury Other Fair Value n and Other Retained Controlling Total Capital A Shares Shares Scheme Reserve Reserves Earnings Total Interests Equity MUR'000 MUR'000 MUR'000 MUR'000 MUR'000 MUR'OOO MUR'000 MUR'000 MUR'000 MUR'000 4 Balance at 1 July 2017 5 As previously stated 4,251,153 39,233 -243,188 30,359 73,164 2,612,170 7,141,535 13,904,4269,759,140 23,663,566 6 Prior year adjustment -201,910 48,033 - 249,943 -36,302 - 286,245 7 As restated 4,251,153 39,233 -243,188 30,359 73.164 2.410,260 7,093,502 13,654,483 9,722,838 23,377,321 8 Profit for the year 441,817 441,817 648,519 1,090,336 Other comprehensive income for the 9 year 4,763 309,621 314,384 173,454 487,838 Total comprehensive income for the 10 year 4,763 309,621 441,817 756,201 821,973 1,578,174 11 Issue of shares 818,876 818,876 818,876 12 Treasury shares acquired Issue of shares to non-controlling 13 interests 928,035 928,035 Change in ownership interest that do 14 not result in a loss of control -517,927 -517,927 -676,682 -1,194,609 5 Employee share option scheme 2,267 8,925 -5,536 5,656 5,656 Dividends and tax paid by foreign 6 subsidiary Dividends -328,409 -328,409 -428,213 -756,622 8 Other movements 23,567 - 26,856 -3,289 207 -3,082 Total transactions with owners of the 19 parent 821,143 8,925 -5,536 23,567 -873,192 -25,093 -176,653 -201,746 Movement in reserves of joint ventures and associates 461,491 -461,025 466 5,880 -5,414 1 Balance at 30 June 2018 5,072.296 39,233 -234,263 24,823 77,927 3,204,939 6,201,102 14,386,057 10,362,278 24,748,335 Consolidated Statements of Changes in Equity Year ended 30 June 2019 THE GROUP Attributable to Owners of the Parent Share Appreciatio Redeemabl n Rights & Revaluatio Non- Stated e Restricted Treasury Other Fair Value n and Other Retained Controlling Total Capital A Shares Shares Scheme Reserve Reserves Earnings Total Interests Equity MUR'000 MUR'000 MUR'000 MUR'000 MUR'000 MUR'000 MUR'000 MUR'000 MUR'000 MURVOO 5,072,296 39,233 -234,263 77,927 3,204,939 6,201, 102 14,386,057 10,362,278 24,748,335 13,144 13,144 50,481 63,625 -18,594 -18,594 -18,519 -37,113 5,072,296 39,233 234,263 24,823 77,927 3,204,939 6,195,652 14,380,607 10,394,240 24,774,847 -860,428 -860,428 -328,633 1,189,061 -35,369 -487,741 -15,214 5 38,324 -205,648 743,972 1 Balance at 1 July 2018 2 Effect of adoption of IFRS 9 3 Effect of adoption of IFRS 15 14 Restated balance at 1 July 2018 45 Profit for the year Other comprehensive income for the 46 year Total comprehensive income for the 47 year Transactions with owners in their 48 capacity as owners 49 Issue of shares Change in ownership interest that do 50 not result in a loss of control 51 Employee share option scheme 52 Dividends 53 Other movements Total transactions with owners of the 54 parent 55 Balance at 30 June 2019 56 22,979 75,815 98,794 98,794 193,954 193,954 4,286 9,101 -5,373 193,954 8,014 347,436 -347,436 -51,090 468,963 -1,086 -816,399 -1,086 51,090 27,265 5,099,561 84,916 -149,347 -5,373 19,450 51,090 2.768,288 -204,572 5,115,438 -46,674 12,935,181 -664,003 9.195,956 718,691 22.123,123 39,233 42.558 Consolidated Statements of Changes in Equity THE GROUP Attributable to Owners of the Parent Appreciation Rights & Relation Stated Restricted A Treasury Other Fair V and Other Retained Controlling Capital Shares shares Scheme Reserve Reserves Cornings Total interests Total Equity MUR'OCO MURODO MURO MUR DOO MURO MUROMURODO MURDO MUR'000 MUNDO 4 Balance at June 2018 Balance at 1 July 2015 5,072,296 39233-234263 2683 77,927 3:204, 201,102 14,186057 10.362224