Fincorp Investment Ltd’s Half-Year Profit Drops 45.5% Due to Fair Value Losses and Decreased Contribution from Associates

Published On: October 24, 2023Company: Fincorp Investment Ltd (
What were the key factors that contributed to Fincorp Investment Ltd's decline in consolidated profit for the half-year ended December 31, 2022?
The significant contributors to the decline in Fincorp Investment Ltd's profit were the fair value losses on its listed equity investments, a decreased contribution from its associates, and a drop in profits of its subsidiary, MCB Leasing Ltd.


  • Fincorp Investment Ltd reported a consolidated profit after tax of Rs 116.2 million for the half-year to December 31, 2022, indicating a 45.5% decrease compared to the corresponding period in the prior year.
  • The company’s operating profit decreased to Rs 18.5 million due to fair value losses on listed equity investments amounting to Rs 19.1 million.
  • There was a slight drop in the profit of Fincorp’s only subsidiary, MCB Leasing Limited, by 1.8% to Rs 38.7 million. However, the NPL rate and provision coverage remained stable at 3.1% and 73.4% respectively.
  • The contribution from the company’s associates dropped due to a decrease in profits from the sale of land by Medine.
  • The company posted a consolidated profit before tax of Rs 124.6 million, against Rs 221.7 million in the previous year.
  • The board mentioned that despite challenges linked to high inflation, increasing interest rates, and uncertainty within the global economy, Mauritius’s economic environment is recovering. Fincorp plans to continue pursuing business development diligently, focusing on operational efficiencies and resilience to deliver sustainable value to its shareholders.

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About Fincorp Investment Ltd (

Fincorp Investment Limited operates solely as an investment company that is fully owned by the Mauritius Commercial Bank. The company offers services in funds management, property investment, and specialised services in mortgaging, property investment products and property development. Fincorp Investment Limited is listed on the Stock Exchange of Mauritius.

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