Interim Financial Statements (Q3) 2021

Nigerian Breweries Plc

RC: 613

Unaudited Condensed Interim Financial Statements For the nine months ended 30th September, 2021

Nigerian Breweries Plc

Unaudited Condensed Interim Financial Statements

For the nine months ended 30th September 2021

Table of Contents
Condensed interim income statement ended 30th September........................................................................	1
Condensed interim statement of other comprehensive income ended 30th September...............................	3
Condensed interim statement of financial position..........................................................................................	5
Condensed interim statement of changes in equity..........................................................................................	6
Condensed interim statement of cash flows .................................................................................................	10
Notes to the condensed interim financial statements ..................................................................................	11

Nigerian Breweries Plc

Unaudited Condensed Interim Financial Statements

For the nine months ended 30th September 2021

Condensed interim income statement
			GROUP
		Quarter to date	Year to date	Quarter to date	Year to date
		30th September	30th September	30th September	30th September
		2021	2021	2020	2020
	Notes	₦'000	₦'000	₦'000	₦'000
Net Revenue		100,024,496	309,281,410	82,228,896	234,038,733
Cost of Sales	6	(67,404,787)	(198,744,628 )	(51,422,855)	(144,091,276)
Gross Profit		32,619,709	110,536,782	30,806,041	89,947,457
Other Income		265,658	894,114	251,836	585,966
Marketing and Distribution Expenses	6	(22,913,615)	(69,112,213)	(17,818,182)	(52,154,608)
Administrative Expenses	6	(5,152,900)	(17,582,078)	(5,795,908)	(15,888,705)
Results from operating activities		4,818,852	24,736,605	7,443,787	22,490,110
Finance income	7a	5,239	94,878	92,721	216,506
Finance costs	7b	(4,027,021)	(12,093,972)	(4,904,663)	(11,729,142)
Net Finance costs		(4,021,782)	(11,999,094)	(4,811,942)	(11,512,636)
Profit before tax		797,070	12,737,511	2,631,845	10,977,474
Income tax expenses	8	(298,697)	(4,520,890)	(1,281,736)	(4,037,901)
Profit after tax		498,373	8,216,621	1,350,109	6,939,573
Profit for the year attributable to:
Owners of the Company		496,842	8,211,970	1,354,559	6,935,600
Non-controlling interest		1,531	4,651	(4,450)	3,973
Profit for the period		498,373	8,216,621	1,350,109	6,939,573
Earnings per share
Basic Earnings per share (kobo)		6	102	17	87
Diluted earnings per share (kobo)		6	102	17	87

The notes on pages 11 to 15 are an integral part of these interim financial statements

1

Nigerian Breweries Plc

Unaudited Condensed Interim Financial Statements

For the nine months ended 30th September 2021

Condensed interim income statement
			COMPANY
		Quarter to date	Year to date	Quarter to date	Year to date
		30th September	30th September	30th September	30th September
		2021	2021	2020	2020
	Notes	₦'000	₦'000	₦'000	₦'000
Net Revenue		100,000,763	309,218,360	82,220,120	234,019,558
Cost of Sales	6	(67,404,787)	(198,744,628)	(51,422,855)	(144,091,276)
Gross Profit		32,595,976	110,473,732	30,797,265	89,928,282
Other Income		265,658	894,114	251,836	585,966
Marketing and Distribution Expenses	6	(22,913,615)	(69,112,213)	(17,818,182)	(52,154,608)
Administrative Expenses	6	(4,995,520)	(17,214,813)	(5,731,448)	(15,713,514)
Results from operating activities		4,952,499	25,040,820	7,499,471	22,646,126
Finance income	7a	5,239	94,878	92,721	216,506
Finance costs	7b	(4,049,707)	(12,159,817)	(4,925,392)	(11,789,517)
Net Finance costs		(4,044,468)	(12,064,939)	(4,832,671)	(11,573,011)
Profit before tax		908,031	12,975,881	2,666,800	11,073,115
Income tax expenses	8	(292,566)	(4,502,261)	(1,275,103)	(4,018,661)
Profit after tax		615,465	8,473,620	1,391,697	7,054,454
Profit for the year attributable to:
Owners of the Company		615,465	8,473,620	1,391,697	7,054,454
Non-controlling interest		-	-	-	-
Profit for the period		615,465	8,473,620	1,391,697	7,054,454
Earnings per share
Basic Earnings per share (kobo)		8	105	17	88
Diluted earnings per share (kobo)		8	105	17	88

The notes on pages 11 to 15 are an integral part of these interim financial statements

2

Nigerian Breweries Plc

Unaudited Condensed Interim Financial Statements

For the nine months ended 30th September 2021

Condensed interim statement of other comprehensive income
		GROUP
	Quarter to date	Year to date	Quarter to date	Year to date
	30th September	30th September	30th September	30th September
	2021	2021	2020	2020
Notes	₦'000	₦'000	₦'000	₦'000
Profit for the period	498,373	8,216,621	1,350,109	6,939,573
Other comprehensive income, net of tax
Total comprehensive income for the period	498,373	8,216,621	1,350,109	6,939,573

Total comprehensive income for the year attributable to:

Owners of the Company	496,842	8,211,970	1,354,559	6,935,600
Non-controlling interest	1,531	4,651	(4,450)	3,973
Total comprehensive income for the period	498,373	8,216,621	1,350,109	6,939,573

The notes on pages 11 to 15 are an integral part of these interim financial statements

3