ANNUAL FINANCIAL STATEMENTS 2024

for the year ended 30 September 2024

  9 Net (finance costs)/finance income
   

Interest received

For all financial instruments measured at amortised cost, interest received or expensed is recorded using the effective interest rate, which is the rate that exactly discounts the estimated future cash payments or receipts through the expected life of the financial instrument or a shorter period, where appropriate, to the net carrying amount of the financial asset or liability. Interest received is included in finance income in the income statement.

 
    GROUP   COMPANY
  (R'million) 2024 2023   2024 2023
9.1 Finance costs (320,4) (267,9)   (1,4) (0,1)
  Bank and other short-term borrowings (265,2) (220,9)  
  Other – financial liabilities (52,9) (44,8)
  Other – non-financial liabilities (2,3) (2,2) (1,4) (0,1)
9.2 Finance income 21,1 29,9   57,1 60,0
  From subsidiary companies   39,0 32,8
  From cash and cash equivalents 21,1 29,9 18,1 27,2
9.3 Foreign exchange loss (51,1) (33,6)   (56,8) (34,7)
  Loss on cash balances and loans of a funding nature (51,1) (33,6)   (56,8) (34,7)
  Net (finance costs)/finance income (350,4) (271,6)   (1,1) 25,2