CADBURY NIGERIA : AUDITED FINANCIAL STATEMENT FOR 2022

Cadbury Nigeria Plc

Un-audited Interim Financial Information

for the Year Ended 31 December 2022

	Cadbury Nigeria Plc
	Un-audited Interim Financial Information
	for the Year Ended 31 December 2022
Content	Page
Financial highlights	2
Statement of financial position	3
Statement of profit or loss and other comprehensive income	4
Statement of changes in equity	5
Statement of cashflows	6
Notes to the financial information	7

1

				Cadbury Nigeria Plc
			Un-audited Interim Financial Information
			for the Year Ended 31 December 2022
Financial highlights
For the Year Ended 31 December 2022
In thousands of naira
	Un-audited		Audited
	YTD		YTD
	2022		2021		Change %
Revenue	55,212,617	42,372,034	30
Gross profit	7,765,037	6,477,633	20
Results from operating activities	247,214	491,468	(50)
Profit before tax	1,351,561	1,097,917	23
Profit for the year	946,093	449,712	110
Share capital	939,101	939,101	-
Total equity	13,641,935	13,636,354	0
Data per 50k share
Basic earnings per share	50.37	23.94	110
Net asset per share	726	726	0

2

Cadbury Nigeria Plc

Un-audited Interim Financial Information

for the Year Ended 31 December 2022

Statement of financial position

In thousands of naira

		Un-audited		Audited
		31 December		31 December
	Note	2022	2021
Assets
Non-current assets
Property, plant and equipment	9	14,070,993	13,018,307
Right-of use assets	18	38,973	21,331
Intangible assets	10	6,813	13,075
Total non-current assets		14,116,779		13,052,713
Current assets
Inventories	11	11,913,166	8,100,730
Trade and other receivables	12	5,159,941	4,053,339
Prepayments	13	1,071,815	657,378
Cash and cash equivalents	14	27,447,778	17,824,131
Total current assets		45,592,700		30,635,578
Total assets		59,709,479		43,688,291
Equity
Share capital		939,101	939,101
Share premium	15	272,344	272,344
Other reserves	3,436,348	3,436,348
Share based payment reserve		153,220	153,220
Retained earnings		8,840,922	8,835,341
Total Equity		13,641,935		13,636,354
Liabilities
Non-current liabilities
Borrowings	19	7,588,788	6,596,083
Deferred taxation		758,240	758,240
Employee benefits		595,006	668,017
Lease liabilities	18	12,494	4,890
Total non-current liabilities		8,954,528		8,027,230
Current liabilities
Borrowings	19	16,219,870	3,884,269
Trade and other payables	16	20,484,918	18,030,034
Current tax liabilities	8	407,622	110,296
Lease Liabilities	18	606	108
Current liabilities		37,113,016		22,024,707
Total liabilities		46,067,544		30,051,937
Total equity and liabilities		59,709,479		43,688,291

Approved by the Board of Directors on 24 January 2022 and signed on its behalf by:

Oyeyimika Adeboye (Managing Director)

FRC/2013/ICAN/00000001089

Ogaga Ologe (Finance Director)

FRC/2013/ICAN/00000001091

The accompanying notes on pages 7 to 25 form an integral part of these financial statements.

3

Cadbury Nigeria Plc

Un-audited Interim Financial Information

for the Year Ended 31 December 2022

Statement of profit or loss and other comprehensive income
For the Year Ended 31 December 2022
In thousands of naira
			Un-audited	Un-audited	Un-audited	Audited
			1 Oct-31 Dec	YTD 31 Dec	1 Oct-31 Dec	YTD 31 Dec
	Note	2022			2022	2021			2021
CONTINUING OPERATIONS
Revenue	5		12,672,600			55,212,617	12,324,979			42,372,034
Cost of sales			(13,283,312)			(47,447,580)	(11,443,000)			(35,894,401)
Gross profit			(610,712)			7,765,037	881,979			6,477,633
Other income	6		1,549			81,530	2,138			24,075
Selling and distribution expenses			(2,302,231)			(6,352,928)	(1,662,051)			(5,060,571)
Administrative expenses			(153,038)			(1,246,425)	(471,836)			(949,669)
RESULTS FROM OPERATING ACTIVITIES			(3,064,432)			247,214	(1,249,770)			491,468
Net finance income	7		392,184			1,104,347	274,246			606,449
(LOSS) / PROFIT BEFORE INCOME TAX			(2,672,248)			1,351,561	(975,524)			1,097,917
Income tax credit/ (expense)	8		801,675			(405,468)	292,657			(648,205)
(LOSS)/ PROFIT FOR THE YEAR			(1,870,573)			946,093	(682,867)			449,712
OTHER COMPREHENSIVE INCOME			-			-
TOTAL COMPREHENSIVE (LOSS)/ INCOME
FOR THE YEAR			(1,870,573)			946,093	(682,867)			449,712
Basic (loss)/ earning per share (kobo)			(99.59)			50.37	(36.36)			23.94
The accompanying notes on pages 7 to 25 form an integral part of these financial statements.

4