BETA GLASS : QUARTER 4 - FINANCIAL STATEMENT FOR 2021

		BETA GLASS PLC
β	NIS ISO 9001:2008 CERTIFIED
		HEAD OFFICE	DELTA PLANT	GUINEA PLANT
		Iddo House, Iddo, P.O.Box 159,	KM 17, Warri - Patani Road,	KM 32, Lagos Badagry Express Road,
(RC13215)	Lagos, Nigeria	P.M.B. 48, Ughelli, Delta State, Nigeria	Agbara Industrial Estate, Ogun State
Tel: [phone]	Tel: [phone]	P.O.Box 2515, Lagos, Nigeria.
		234-01-2806714	234-8070990284	Tel: [phone]

Beta Glass Plc

Unaudited Interim Financial Statements

For the Fourth Quarter and Period Ended 31 December 2021

Directors: Otunba Abimbola O. Ogunbanjo (Chairman), Darren Bennett-Voci(British) (Managing Director), Z. Wuraola Abiola, 0lufunmilola Adefope, Haralambos (Harry) G. David (Cypriot), Nikolaos Mamoulis (Greek), Emmanouil Metaxakis (Greek), Clare Omatseye, Oluwaseun A. Oni

BETA GLASS PLC, MEMBER OF FRIGOGLASS GROUP

BETA GLASS PLC

Beta Glass Plc

Unaudited Interim Financial Statements

For the Period Ended 31 December 2021

Table of contents	Page
Compliance Certificate	3
Interim statement of profit or loss and other comprehensive income	4
Interim statement of financial position	5
Interim statement of changes in equity	6
Interim statement of cash flows	7
Accounting policies and notes to the interim financial statements	8

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Beta Glass Plc

Compliance Certificate on the Company's Unaudited Interim Financial Statements

For the Period Ended 31 December 2021

We hereby certify that:

1. We the undersigned have reviewed the Interim financial statements of Beta Glass Plc ("the Company) for the period ended 31 December 2021.

Based on our knowledge as officers of the Company, the interim financial statements do not contain:

i. any untrue statement of a material fact, or

1. omit to state a material fact, which would make the statement misleading in the light of the circumstances under which the statement was made.

1. Based on our knowledge, the financial statements and other financial information included in the quarterly report fairly represent in all material respect, the financial conditions and results of operations of the Company as of, and for the period presented in the report.
2. We, the undersigned:

i. are responsible for establishing and maintaining controls;

1. have designed such internal controls to ensure that material information relating to the Company is made known to us by others within those entities particularly during the period in which the periodic reports are being prepared;
2. have evaluated the effectiveness of the Company's internal controls as of date within 90 days prior to the report.;
3. have presented in the report our conclusions about the effectiveness of their internal controls based on their evaluation as of that date;

d) We have disclosed to the external auditors of the Company and the audit committee:

i. all significant deficiencies in the design or operation of the internal controls which would adversely affect the Company's ability to record, process, summarize and report financial data and have identified to the Company's Auditors any material weakness in internal controls, and

ii. any fraud, whether or not material, that involves management or other employees who have significant role in the Company's internal controls.

1. We have identified in the report whether or not there were significant changes in internal controls subsequent to the date of their evaluation, including any corrective actions with regard to significant deficiencies and material weakness.

Mr. Darren Bennett-Voci	Mr. Dhanikonda Shanker
Managing Director	Chief Financial Officer
26th January 2022	26th January 2022
FRC/2016/IODN/00000015783	FRC/2013/ANAN/00000002336

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BETA GLASS PLC

Unaudited Interim Financial Statement for the Period Ended 31st December 2021

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

FOR THE PERIOD ENDED 31 DECEMBER 2021

			For the period ended
		3 months	12 months	3 months	12 months
		October-		October-
		December	31 December	December 31 December
		2021	2021	2020	2020
	Notes	N'000	N'000	N'000	N'000
Revenue from contract with customers	6	11,327,256	36,947,547	8,484,111	25,637,010
Cost of sales	7.1	(9,516,785)	(27,708,867)	(5,645,829)	(19,733,028)
Gross profit		1,810,471	9,238,680	2,838,281	5,903,982
Selling and distribution expenses	7.3	(48,778)	(192,848)	(97,002)	(196,178)
Administrative expenses	7.2	(766,479)	(2,236,191)	(447,106)	(1,646,681)
Other income	8	470,661	1,010,266	81,906	434,327
Operating profit		1,465,875	7,819,907	2,376,079	4,495,450
Foreign exchange gain	9	(333,757)	(763,346)	(56,174)	285,495
Finance income	10.1	202,787	588,250	98,832	537,232
Finance cost	10.2	(60,284)	(244,643)	(57,148)	(203,582)
Finance income - net	10	142,503	343,607	41,684	333,650
Profit before taxation for the period		1,274,621	7,400,168	2,361,589	5,114,594
Income tax expense	11	(476,489)	(2,436,664)	(766,962)	(1,647,924)
Profit after tax for the period		798,132	4,963,504	1,594,627	3,466,670
Other comprehensive income
Other comprehensive income for the year-net
of tax		-	-	-	-
Total comprehensive income for the period		798,132	4,963,504	1,594,627	3,466,670
Earnings per share (EPS)
Basic and diluted EPS (Naira)	12	1.60	9.93	3.19	6.93

The notes on pages 8 to 49 are an integral part of these financial statements.

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BETA GLASS PLC

Unaudited Interim Financial Statement for the Period Ended 31st December 2021

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2021

		31 December	31 December
		2021	2020
	Notes	N'000	N'000
Assets
Non-current assets
Property, plant and equipment	19	22,511,632	22,108,397
Right-of-use assets	20	46,805	38,928
Intangible assets	14	12,563	16,980
		22,571,000	22,164,305
Current assets
Inventories	15	9,180,736	7,454,229
Trade and other receivables	16	15,511,753	12,746,846
Cash in hand and at bank	17	15,945,101	11,598,254
		40,637,590	31,799,328
Total assets		63,208,590	53,963,634
Liabilities
Non-current liabilities
Deferred tax liabilities	21	1,961,617	1,961,617
		1,961,617	1,961,617
Current liabilities
Borrowings	18	4,829,269	4,120,895
Trade and other payables	22	11,988,316	8,178,695
Current income tax	23	2,654,918	2,386,694
Dividend payable	24	141,220	126,015
		19,613,722	14,812,299
Total liabilities		21,575,339	16,773,916
Equity
Issued share capital	25	249,986	249,986
Share premium	25	312,847	312,847
Other reserves	26	2,429,942	2,429,942
Retained earnings	27	38,640,476	34,196,943
Total equity		41,633,251	37,189,718
Total equity and liabilities		63,208,590	53,963,634

The notes on pages 8 to 49 are an integral part of these financial statements.

The Unaudited Interim financial statements on pages 4 to 49 were approved and authorised for issue by the Board of Directors on 26th January 2022 and were signed on its behalf by:

Mr. Darren Bennett-Voci		Mr. Shanker Dhanikonda
Managing Director		M	i Di
	Chief Financial Officer
FRC/2016/IODN/00000015783		FRC/2013/ANAN/00000002336

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