Nigerian Breweries Plc
RC: 613
Unaudited Condensed Interim Financial Statements
For the Three Months Ended 31st March, 2022
Nigerian Breweries Plc
Unaudited Condensed Interim Financial Statements
For the Three Months Ended 31st March, 2022
Table of Contents
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 Three Months Ended 31st March, 2022
Condensed interim income statement
Notes
31st March | 31st March | 31st March | 31st March |
2022 | 2022 | 2021 | 2021 |
Group | Company | Group | Company |
₦'000 | ₦'000 | ₦'000 | ₦'000 |
Net Revenue Cost of Sales
5
137,771,644137,746,648105,675,764105,661,870 (75,318,946)(75,318,946)(66,004,762)(66,004,762)
Gross Profit
Other Income
Marketing and Distribution Expenses Administrative Expenses
5 (32,136,698)(32,136,698)(19,803,914)(19,803,914)
5 (7,451,554)
62,452,698 | 62,427,702 | 39,671,002 | 39,657,108 |
859,347 | 859,347 | 368,027 | 368,027 |
(7,247,713)
(5,744,835)
(5,650,387)
Results from operating activities
23,723,793
23,902,638
14,490,280
14,570,834
Finance income
Net loss on foreign exchange transactions
Finance costs
6a
73,514
73,514
25,436
25,436
6b
(1,876,640)(1,157,982)
(1,876,640)(611,873)
(1,181,208)(2,389,590)
(611,873) (2,410,812)
Net Finance costs
(2,961,108)
(2,984,334)
(2,976,027)
(2,997,249)
Profit before tax Income tax expenses
7
20,762,685(7,149,092)
20,918,304(7,143,961)
11,514,253(3,854,721)
11,573,585 (3,848,804)
Profit after tax
13,613,593
13,774,343
7,659,532
7,724,781
Profit for the year attributable to: Owners of the Company Non-controlling interest
13,611,7641,829
13,774,343-
7,658,0551,477
7,724,781 -
Profit for the period
Earnings per share
Basic Earnings per share (kobo) Diluted earnings per share (kobo)
13,613,593
13,774,343
7,659,532
7,724,781
169169
171171
9697
9697
Nigerian Breweries Plc
Unaudited Condensed Interim Financial Statements
For the Three Months Ended 31st March, 2022
Condensed interim statement of other comprehensive income
31st March
31st March | 31st March | 31st March | |
2022 | 2022 | 2021 | 2021 |
Group | Company | Group | Company |
Profit for the period 13,613,593 13,774,343
Other comprehensive income, net of tax
Total comprehensive income for the period 13,613,593 13,774,343
Total comprehensive income for the quarter attributable to:
Owners of the Company 13,611,764 13,774,343
Non-controlling interest
Total comprehensive income for the period
₦'000 | ₦'000 |
Notes | |
7,659,532 | 7,724,781 |
7,659,532 | 7,724,781 |
7,658,055 | 7,724,781 |
- | |
7,724,781 |
₦'000
₦'000
1,829
13,613,593
13,774,343
The notes on pages 11 to 15 are an integral part of these interim financial statements
1,477 7,659,532
Nigerian Breweries Plc
Unaudited Condensed Interim Financial Statements
For the Three Months Ended 31st March, 2022
Condensed interim statement of financial position As at:
31st March 2022
31st December 2021
Group | Company | Group | Company | ||
2022 | 2022 | 2021 | 2021 | ||
ASSETS | Notes | ₦'000 | ₦'000 | ₦'000 | ₦'000 |
Property, plant and equipment | 8 | 273,107,674 | 271,607,926 | 257,216,814 | 255,630,534 |
Right-of-use assets | 9,532,789 | 9,357,517 | 12,520,277 | 12,364,126 | |
Intangible assets and goodwill | 93,960,302 | 93,960,302 | 94,334,332 | 94,334,332 | |
Investments | 150,000 | 929,625 | 150,000 | 929,625 | |
Other receivables | 1,026,303 | 1,026,303 | 1,134,459 | 1,134,459 | |
Non-current assets | 377,777,068 | 376,881,673 | 365,355,882 | 364,393,076 | |
Inventories | 68,461,051 | 68,257,446 | 62,191,510 | 62,067,403 | |
Trade and other receivables | 36,515,838 | 34,561,762 | 26,500,516 | 24,714,756 | |
Prepayments | 4,015,143 | 4,015,143 | 2,852,868 | 2,852,868 | |
Deposit for imports | 11,554,507 | 11,554,507 | 11,891,422 | 11,891,422 | |
Cash and cash equivalents | 23,046,498 | 23,037,377 | 16,730,029 | 16,720,040 | |
Current assets | 143,593,037 | 141,426,235 | 120,166,345 | 118,246,489 | |
Total assets | 521,370,105 | 518,307,908 | 485,522,227 | 482,639,565 | |
EQUITY | |||||
Share capital | 4,037,916 | 4,037,916 | 4,037,916 | 4,037,916 | |
Share premium | 77,499,797 | 77,499,797 | 77,499,797 | 77,499,797 | |
Share based payment reserve | 245,299 | 245,299 | 170,753 | 170,753 | |
Retained earnings | 104,082,819 | 104,581,324 | 90,094,911 | 90,430,837 | |
Equity attributable to owners of the Company | 11 | 185,865,831 | 186,364,336 | 171,803,377 | 172,139,303 |
Non-controlling interest | 110,716 | - | 108,887 | - | |
Total equity | 185,976,547 | 186,364,336 | 171,912,264 | 172,139,303 | |
LIABILITIES | |||||
Loans and borrowings | 3,540,562 | 3,540,562 | 6,831,273 | 6,831,273 | |
Employee benefits | 10,927,602 | 10,927,602 | 10,964,102 | 10,964,102 | |
Deferred tax liabilities | 22,808,354 | 22,808,354 | 23,281,997 | 23,281,997 | |
Non-current liabilities | 37,276,518 | 37,276,518 | 41,077,372 | 41,077,372 | |
Loans and borrowings | 43,302,159 | 43,302,159 | 24,542,067 | 24,542,067 | |
Current tax liabilities | 18,246,383 | 18,165,136 | 10,623,647 | 10,547,531 | |
Dividend payable | 9,742,946 | 9,742,946 | 10,437,847 | 10,437,847 | |
Trade and other payables | 226,314,541 | 222,945,802 | 226,418,019 | 223,384,434 | |
Provisions | 511,011 | 511,011 | 511,011 | 511,011 | |
Current liabilities | 298,117,040 | 294,667,054 | 272,532,591 | 269,422,890 | |
Total liabilities | 335,393,558 | 331,943,572 | 313,609,963 | 310,500,262 | |
Total equity and liabilities | 521,370,105 | 518,307,908 | 485,522,227 | 482,639,565 |
Approved by the Board of Directors on 22nd April, 2022 and signed on its behalf by:
____________________________ Mr. Hans Essaadi*
Managing Director/CEO
__________________________ Mr. Rob Kleinjan
Finance Director FRC/2019/ANAN/ 00000019433
*Mr. Essaadi has a waiver from the Financial Reporting Council of Nigeria ("FRCN") to sign the Financial Statements while pro cessing his FRCN[OO1] registration with the Council.
The notes on pages 11 to 15 are an integral part of these interim financial statements 5
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NB - Nigerian Breweries plc published this content on 25 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 April 2022 12:28:17 UTC.