NIGERIAN BREWERIES PLC Nigerian Breweries Plc
Unaudited Condensed Interim Financial Statements
For the six months ended 30th June, 2023
Nigerian Breweries Plc
Unaudited Condensed Interim Financial Statements
For the six months ended 30th June, 2023
Table of Contents | |
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 |
Condensed interim income statement | |||||
GROUP | |||||
Quarter to date | Year to date | Quarter to date | Year to date | ||
30th June 2023 | 30th June 2023 | 30th June 2022 | 30th June 2022 | ||
Notes | ₦'000 | ₦'000 | ₦'000 | ₦'000 | |
Net Revenue | 154,105,332 | 277,419,283 | 136,313,150 | 274,084,794 | |
Cost of Sales | 6 | (85,664,356) | (165,094,375) | (80,030,231) | (155,349,177) |
Gross Profit | 68,440,976 | 112,324,908 | 56,282,919 | 118,735,617 | |
Other Income | 997,755 | 1,353,982 | 1,140,632 | 1,999,979 | |
Selling and Distribution Expenses | 6 | (34,761,933) | (68,459,080) | (37,215,609) | (69,803,817) |
Administrative Expenses | 6 | (8,049,174) | (16,266,717) | (7,028,683) | (14,480,237) |
Net (release)/charge of expected | |||||
credit loss on financial assets | (133,015) | (574,649) | (1,063,464) | (611,954) | |
Results from operating activities | 26,494,609 | 28,378,444 | 12,115,795 | 35,839,588 | |
Finance income | 7 | 145,694 | 185,566 | 155,230 | 228,744 |
Net loss on foreign exchange | |||||
transactions | (70,619,372) | (85,260,423) | (5,404,315) | (7,280,955) | |
Finance costs | 7b | (6,428,313) | (11,148,029) | (1,932,335) | (3,090,317) |
Net Finance costs | (76,901,991) | (96,222,886) | (7,181,420) | (10,142,528) | |
Profit/(loss) before tax | (50,407,382) | (67,844,442) | 4,934,375 | 25,697,060 | |
Income tax expenses | 8 | 13,523,409 | 20,245,266 | 194,677 | (6,954,415) |
Profit/(loss) after tax | (36,883,973) | (47,599,176) | 5,129,052 | 18,742,645 | |
Profit/(Loss) for the year attributable | |||||
to: | |||||
Owners of the Company | (36,883,973) | (47,599,176) | 5,148,095 | 18,736,682 | |
Non-controlling interest | - | - | (19,043) | 5,963 | |
Profit/(loss) for the period | (36,883,973) | (47,599,176) | 5,129,052 | 18,742,645 | |
Earnings per share | |||||
Basic Earnings per share (kobo) | (444) | (573) | 64 | 232 | |
Diluted earnings per share (kobo) | (444) | (573) | 64 | 232 |
The notes on pages 11 to 16 are an integral part of these interim financial statements
1
Condensed interim income statement | |||||
COMPANY | |||||
Quarter to date | Year to date | Quarter to date | Year to date | ||
30th June 2023 | 30th June 2023 | 30th June 2022 | 30th June 2022 | ||
Notes | ₦'000 | ₦'000 | ₦'000 | ₦'000 | |
Net Revenue | 154,067,058 | 277,338,304 | 136,284,609 | 274,031,257 | |
Cost of Sales | 6 | (85,664,356) | (165,094,375) | (80,030,231) | (155,349,177) |
Gross Profit | 68,402,702 | 112,243,929 | 56,254,378 | 118,682,080 | |
Other Income | 997,755 | 1,353,982 | 1,140,632 | 1,999,979 | |
Selling and Distribution Expenses | 6 | (34,761,933) | (68,459,080) | (37,215,609) | (69,803,817) |
Administrative Expenses | 6 | (7,887,877) | (15,928,796) | (6,782,537) | (14,030,250) |
Net release of expected credit loss | |||||
on financial assets | (133,015) | (574,649) | (1,063,464) | (611,954) | |
Results from operating activities | 26,617,632 | 28,635,386 | 12,333,400 | 36,236,038 | |
Finance income | 7 | 145,694 | 185,566 | 155,230 | 228,744 |
Net loss on foreign exchange | |||||
transactions | (70,619,372) | (85,260,423) | (5,404,315) | (7,280,955) | |
Finance costs | 7b | (6,428,313) | (11,148,029) | (1,956,343) | (3,137,551) |
Net Finance costs | (76,901,991) | (96,222,886) | (7,205,428) | (10,189,762) | |
Profit/(loss) before tax | (50,284,359) | (67,587,500) | 5,127,972 | 26,046,276 | |
Income tax expenses | 8 | 13,523,409 | 20,245,266 | 179,051 | (6,964,910) |
Profit/(loss) after tax | (36,760,950) | (47,342,234) | 5,307,023 | 19,081,366 | |
Profit/(loss) for the year attributable | |||||
to: | |||||
Owners of the Company | (36,760,950) | (47,342,234) | 5,307,023 | 19,081,366 | |
Non-controlling interest | - | - | - | - | |
Profit/(loss) for the period | (36,760,950) | (47,342,234) | 5,307,023 | 19,081,366 | |
Earnings per share | |||||
Basic Earnings per share (kobo) | (443) | (570) | 66 | 237 | |
Diluted earnings per share (kobo) | (443) | (570) | 66 | 237 |
The notes on pages 11 to 16 are an integral part of these interim financial statements
2
Condensed interim statement of other comprehensive income | ||||
GROUP | ||||
Quarter to date | Year to date | Quarter to date | Year to date | |
30th June 2023 | 30th June 2023 | 30th June 2022 | 30th June 2022 | |
Notes | ₦'000 | ₦'000 | ₦'000 | ₦'000 |
Profit/(loss) for the period | (36,883,973) | (47,599,176) | 5,148,095 | 18,736,682 |
Other comprehensive income, net of tax | ||||
Total comprehensive income for the period | (36,883,973) | (47,599,176) | 5,148,095 | 18,736,682 |
Total comprehensive income for the year attributable to:
Owners of the Company | (36,883,973) | (47,599,176) | 5,148,095 | 18,736,682 |
Non-controlling interest | - | - | (19,043) | 5,963 |
Total comprehensive income for the period | (36,883,973) | (47,599,176) | 5,129,052 | 18,742,645 |
The notes on pages 11 to 16 are an integral part of these interim financial statements
3
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NB - Nigerian Breweries plc published this content on 27 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2023 18:47:06 UTC.
