| |
| |
Group |
Company |
| |
31 March
2026
Rm |
31 March
2025
Rm |
31 March
2026
Rm |
31 March
2025
Rm |
| Net finance charges and fair value movements |
(1 608) |
(1 984) |
(1 359) |
(1 859) |
| Net finance charges |
(1 381) |
(1 926) |
(1 193) |
(1 809) |
| Finance charges on lease liabilities |
(630) |
(529) |
(500) |
(463) |
| Net finance charges on local debt1 |
(808) |
(1 445) |
(730) |
(1 377) |
| Less: Finance charges capitalised2 |
57 |
48 |
37 |
31 |
| Foreign exchange and fair value movements |
(227) |
(58) |
(166) |
(50) |
| Foreign exchange gain |
145 |
167 |
104 |
112 |
| Fair value adjustments3 |
(372) |
(225) |
(270) |
(162) |
| Capitalisation rate for borrowing costs (%) |
9.9 |
10.2 |
9.9 |
10.2 |
| 1 |
For the interest-bearing debt movement, refer to note 6.4. |
| 2 |
Finance charges on general borrowings are capitalised to qualifying assets (property, plant and equipment and intangible assets). |
| 3 |
Fair value adjustments increased mainly due to the strengthening of the rand against the US dollar which was not anticipated when foreign exchange contracts were entered into with the financial institutions. |
Finance charges relate to interest expense on financial liabilities measured at amortised cost.
Net finance charges on local debt decreased from R1 926 million in March 2025 to R1 381 million in March 2026 for the Group and decreased from R1 809 million in March 2025 to R1 193 million in March 2026 for the Company. The decrease is largely due to decreases in interest rates and lower debt levels in the current financial year.
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