Guinness Nigeria Plc
Unaudited Financial Statements
For the period ended 31 December 2022
Guinness Nigeria Plc
Financial Statements - 31 December 2022
Unaudited Interim Financial Statements
Contents
Page | |
Condensed Statement of Financial Position | 1 |
Condensed Income Statement | 2 |
Condensed Statement of Comprehensive Income | 3 |
Condensed Statement of Changes in Equity | 4 |
Condensed Statement of Cash Flows | 5 |
Notes to the Condensed Financial Statements | 6 |
Guinness Nigeria Plc
Financial Statements - 31 December 2022
Unaudited Interim Financial Statements
Statement of Financial Position
As at 31 December
ASSETS | Notes | 31 Dec 2022 | 30 Jun 2022 | |
N'000 | N'000 | |||
Non-current assets | ||||
Property, plant and equipment | 13(a) | 98,387,235 | 97,685,577 | |
Right-of-use assets | 22(a) | 318,516 | 368,512 | |
Intangible assets | 14 | 471,418 | 326 | |
Prepayments | 15 | 3,330 | 4,757 | |
Total non-current assets | 99,180,499 | 98,059,172 | ||
Current assets | ||||
Inventories | 16 | 38,403,733 | 32,000,675 | |
Trade and other receivables | 17(a) | 17,276,122 | 14,078,900 | |
Prepayments | 15 | 767,639 | 587,852 | |
Restricted cash | 18(a) | 1,577,324 | 1,829,893 | |
Cash and cash equivalents | 18(b) | 65,421,884 | 69,103,716 | |
Total current assets | 123,446,702 | 117,601,036 | ||
Total assets | 222,627,201 | 215,660,208 | ||
Equity | ||||
Share capital | 1,095,191 | 1,095,191 | ||
Share premium | 47,447,029 | 47,447,029 | ||
Retained earnings | 30,074,987 | 41,437,171 | ||
Total equity | 78,617,207 | 89,979,391 | ||
Liabilities | ||||
Non-current liabilities | ||||
Lease liabilities | 22(b) | 188,730 | 177,144 | |
Employee benefits | 1,434,189 | 1,528,175 | ||
Deferred tax liabilities | 10,443,073 | 10,443,073 | ||
Total non-current liabilities | 12,065,992 | 12,148,392 | ||
Current liabilities | ||||
Current tax liabilities | 12(b) | 2,473,375 | 8,740,294 | |
Dividend payable | 20(a) | 1,650,639 | 1,933,364 | |
Loans and borrowings | 21(a) | 32,476,642 | 31,309,343 | |
Lease liabilities | 22(b) | 55 | 51 | |
Contract liabilities | 7(b) | 794,084 | 1,866,384 | |
Trade and other payables | 23 | 94,549,207 | 95,3 | 69,682,989 |
Total current liabilities | 131,944,002 | 71,5 | 113,532,425 | |
Total liabilities | 144,009,994 | 125,680,817 | ||
Total equity and liabilities | 222,627,201 | 215,660,208 | ||
Approved by the Board of Directors on 25 January 2023 and signed on its behalf by:
Dr Omobola Johnson (Chairman)
FRC/2018/IODN/00000018366
John Musunga (Managing Director)*
Emmanuel Difom (Finance & Strategy Director)
FRC/2022/PRO/ICAN/001/00000024174
*The waiver of the FRCN has been received for the Managing Director to sign the Unaudited Financial Statements of the Company pending registration with FRCN.
The notes on pages 6 to 18 are integral parts of these financial statements.
1
Guinness Nigeria Plc
Financial Statements - 31 December 2022
Unaudited Interim Financial Statements
Income Statement
For the period ended 31 December
Notes | Quarter to date | Year to date | Quarter to date | Year to date | |
31 December | 31 December | 31 December | 31 December | ||
2022 | 2022 | 2021 | 2021 | ||
N'000 | N'000 | N'000 | N'000 | ||
Revenue | 7(a) | 65,601,794 | 118,451,675 | 61,655,076 | 109,124,503 |
Cost of sales | (41,550,824) | (76,161,228) | (40,383,741) | (72,616,506) | |
Gross profit | 24,050,970 | 42,290,447 | 21,271,335 | 36,507,997 | |
Other income | 8(a) | 293,978 | 954,360 | 1,126,463 | 1,374,017 |
Marketing and distribution expenses | 8(b) | (12,515,105) | (21,929,106) | (12,251,375) | (18,831,330) |
Administrative expenses | (5,185,174) | (8,766,169) | (3,061,375) | (5,459,208) | |
Profit from operating activities | 6,644,669 | 12,549,532 | 7,085,048 | 13,591,476 | |
Finance income | 9(a) | 800,720 | 1,398,224 | 126,679 | 633,127 |
Finance expense | 9(b) | (4,253,104) | (6,713,095) | (186,759) | (1,252,779) |
Net finance expense | (3,452,384) | (5,314,871) | (60,080) | (619,652) | |
Profit before income tax | 3,192,285 | 7,234,661 | 7,024,968 | 12,971,824 | |
Tax expense | 12 | (1,916,548) | (3,210,110) | (2,247,992) | (4,150,984) |
Profit for the period | 1,275,737 | 4,024,551 | 4,776,976 | 8,820,840 | |
Earnings per share | |||||
Basic and diluted earnings per share (kobo) | 184 | 403 | |||
The notes on pages 6 to 18 are integral parts of these financial statements.
2
Guinness Nigeria Plc
Financial Statements - 31 December 2022
Unaudited Interim Financial Statements
Statement of Comprehensive Income
For the period ended 31 December
Quarter to date | Year to date | Quarter to date | Year to date | |
31 December | 31 December | 31 December | 31 December | |
2022 | 2022 | 2021 | 2021 | |
N'000 | N'000 | N'000 | N'000 | |
Profit for the period | 1,275,737 | 4,024,551 | 4,776,976 | 8,820,840 |
Total comprehensive income for the period | ||||
1,275,737 | 4,024,551 | 4,776,976 | 8,820,840 | |
The notes on pages 6 to 18 are integral parts of these financial statements.
3
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Guinness Nigeria plc published this content on 26 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 January 2023 13:42:03 UTC.