|
|
Group |
Company |
|
31 March
2023
Rm |
31 March
2023
Rm |
Net finance charges and fair value movements |
(2 181) |
(1 485) |
(2 002) |
(1 546) |
Net finance charges |
(2 127) |
(1 465) |
(2 030) |
(1 579) |
Finance charges on lease liabilities |
(586) |
(478) |
(468) |
(464) |
Net finance charges on local and foreign debt2 |
(1 580) |
(1 032) |
(1 590) |
(1 154) |
Less: Finance charges capitalised3 |
39 |
45 |
28 |
39 |
Foreign exchange and fair value movements |
(54) |
(20) |
28 |
33 |
Foreign exchange loss |
(185) |
(532) |
(101) |
(546) |
Fair value adjustments |
131 |
512 |
129 |
579 |
Capitalisation rate for borrowing costs (%) |
10.2 |
7.7 |
10.2 |
7.7 |
1 |
Refer to note 2.7. |
2 |
For interest-bearing debt movement, refer to note 6.4. |
3 |
Finance charges on general borrowings are capitalised to qualifying assets (property, plant and equipment and intangible assets). |
Finance charges relate to interest expense on financial liabilities measured at amortised cost.
Finance charges on local and foreign debt increased from R1 465 million in March 2023 to R2 127 million in March 2024 for the Group and increased
from R1 579 million in March 2023 to R2 030 million in March 2024 for the Company, respectively. The increase in finance charges is largely due
to increases in interest rates and higher average debt levels during the current financial year.
|