Champion Breweries : BREW. PLC.- QUARTER 2 - FINANCIAL STATEMENT FOR 2023

Champion Breweries Plc

RC: 13388

Unaudited Condensed Interim Financial Statements

30th June, 2023

Champion Breweries Plc

Condensed Interim Financial Statements for the six months period ended - 30th June 2023

Contents	Page
Condensed interim income statement for the three months period ended 30th June	2
Condensed interim statement of other comprehensive income for the
Month period ended 30th June	3
Condensed interim statement of financial position	4
Condensed interim statement of changes in equity	5
Condensed interim statement of cash flows	6-7
Notes to the condensed interim financial statements	8-10

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Champion Breweries Plc

Condensed Interim Financial Statements for the six months period ended - 30th June 2023

CONDENSED INTERIM INCOME STATEMENT
For the six month period ended 30th June	Quarter to date	Quarter to date	Year to date	Year to date
	30th June	30th June	30th June	30th June
		Restated		Re-stated
	2023	2022	2023	2022
	N'000	N'000	N'000	N'000
Revenue	3,120,923	3,349,031	5,705,948	6,575,684
Cost of Sales	(2,323,209)	(2,184,417)	(4,432,921)	(4,208,914)
Gross Profit	797,714	1,164,614	1,273,027	2,366,770
Other Income	19,741	71,921	43,665	103,950
Selling and Distribution Expenses	(412,552)	(294,363)	(701,658)	(556,181)
Administrative Expenses	(209,377)	(204,132)	(539,117)	(402,632)
Results from operating activities	195,525	738,040	75,918	1,511,907
Finance income	3,366	26,211	10,253	53,019
Finance costs	(15,835)	(21,496)	(40,353)	(35,811)
Net Finance costs	(12,469)	4,715	(30,100)	17,208
Profit before tax	183,057	742,755	45,818	1,529,115
Income tax expenses	(57,407)	(221,220)	(16,744)	(453,380)
Profit after tax	125,649	521,535	29,073	1,075,735
Profit for the year attributable to:
Owners of the Company	125,649	521,535	29,073	1,075,735
Non-controlling interest	-	-	-	-
Profit for the period	125,649	521,535	29,073	1,075,735
Basic and diluted earnings per share (kobo)	1.60	6.66	0.37	13.74

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Champion Breweries Plc

Condensed Interim Financial Statements for the six months period ended - 30th June 2023

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Champion Breweries Plc

Condensed Interim Financial Statements for the six months period ended - 30th June 2023

CONDENSED CONSOLIDATED INTERIM STATEMENT OF FINANCIAL POSITION
As at:	Restated
30th June	31st Dec
2023	2022
N'000	N'000
ASSETS

Property, plant and equipment Right of use asset Deferred tax assets

Non -current assets

Inventories

Trade and other receivables

Contract asset Prepayments

Cash and cash equivalents

Current assets

Total assets

EQUITY

Share capital Share premium Other Reserves Accumulated losses/gains

Total Equity

LIABILITIES

Employee benefits

Lease Liability

Deferred tax laibility

Non -current liabilities

Income tax liabilities

Lease Liability

Trade and other payables Contract liability Provision

Current liabilities

Total liabilities

12,631,947	10,298,837
692,740	482,335
55,590	-
13,380,277	10,781,172
1,509,654	1,401,426
277,511	73,196
1,184,313	947,029
129,898	61,957
1,350,649	2,188,805
4,452,024	4,672,413
17,832,302	15,453,585
3,914,748	3,914,748
519,100	519,100
3,701,612	3,701,612
3,012,997	2,983,924
11,148,458	11,119,384
465,133	479,047
752,099	445,076
509,231	483,117
1,726,463	1,407,240
79,956	178,699
0	79,023
4,231,907	1,951,516
140,047	227,676
505,471	490,047
4,957,381	2,926,961
6,683,845	4,334,201

Total	equity and liabilities	17,832,302	15,453,585
Approved by the Board of Directors in 27th July, 2023 and signed on its behalf by:
__			Dr Elijah Akpan (Chairman) FRC/2017/IODN/00000016127
__		Georgios Polymenakos (Managing Director) FRC/2021/003/00000023702

Additionally certified by:

Rasheed Adebiyi (Chief Finance Officer) FRC/2023/PRO/ICAN/001/423509

The notes on pages 8 to 10 are an integral part of these financial statements.

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