Champion Breweries : BREW. PLC.- QUARTER 1 - FINANCIAL STATEMENT FOR 2023

Champion Breweries Plc

RC: 13388

Unaudited Condensed Interim Financial Statements

As at 31st March, 2023

Champion Breweries Plc

Condensed Interim Financial Statements for the three months period ended - 31st March 2023

Contents	Page
Condensed interim income statement for three months ended 31st March		2
Condensed interim statement of other comprehensive income for the three month	3
Period ended 31st March
Condensed interim statement of financial position		4
Condensed interim statement of changes in equity		5
Condensed interim statement of cash flows		6
Notes to the condensed interim financial statements		6-8

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Champion Breweries Plc

Condensed Interim Financial Statements for the three months period ended - 31st March 2023

CONDENSED INTERIM INCOME STATEMENT
For the three-months period ended 31st March		Restated
	2023	2022
	N'000	N'000
Revenue	2,585,025	3,189,034
Cost of Sales	(2,109,712)	(2,024,497)
Gross Profit	475,313	1,164,537
Other Income	23,925	32,029
Selling and Distribution Expenses	(289,106)	(224,199)
Administrative Expenses	(329,740)	(198,501)
Results from operating activities	(119,608)	773,866
Finance income	6,888	26,808
Finance costs	(24,519)	(14,315)
Net Finance costs	(17,631)	12,493
Profit/(Loss) before tax	(137,239)	786,360
Income tax expenses	40,663	(232,160)
Profit/(Loss) after tax	(96,576)	554,200
Profit/(Loss) for the period	(96,576)	554,200

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Champion Breweries Plc

Condensed Interim Financial Statements for the three months period ended - 31st March 2023

CONDENSED INTERIM INCOME

STATEMENT

For the three-months period ended 31st March

Revenue

Cost of Sales

Gross Profit

Other Income

Selling and Distribution Expenses

Administrative Expenses

Results from operating activities

Finance income

Finance costs

Net Finance costs

Profit/(Loss) before tax

Income tax expenses

Profit/(Loss) after tax

Profit/(Loss) for the period

Restated

20232022

N'000N'000

2,585,0253,189,034

(2,109,712) (2,024,497)

475,313 1,164,537

23,92532,029

(289,106) (224,199)

(329,740) (198,501)

(119,608)773,866

6,88826,808

(24,519)(14,315)

(17,631)12,493

(137,239)786,360

40,663(232,160)

(96,576)554,200

(96,576)554,200

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		Champion Breweries Plc
	Condensed Interim Financial Statements for the three months period ended - 31st March 2023
CONDENSED CONSOLIDATED INTERIM STATEMENT OF FINANCIAL POSITION
For the three month period ended
31st March, 2023		Restated
	2023	2022
	N'000	N'000
ASSETS
Property, plant and equipment	10,976,637	10,298,837
Right of use asset	491,989	482,335
Deferred tax assets	-	-
Non-current assets	11,468,626	10,781,172
Inventories	1,518,923	1,401,426
Trade and other receivables	58,601	73,196
Contract asset	1,495,325	947,029
Prepayments	194,888	61,957
Cash and cash equivalents	1,562,354	2,188,805
Current assets	4,830,091	4,672,413
Total assets	16,298,716	15,453,585
EQUITY
Share capital	3,914,748	3,914,748
Share premium	519,100	519,100
Other Reserves	3,701,612	3,701,612
Accumulated losses/gains	2,887,348	2,983,924
Total Equity	11,022,808	11,119,384
LIABILITIES
Employee benefits	471,279	479,047
Lease Liability	422,852	445,076
Deferred tax laibility	483,117	483,117
Non-current liabilities	1,377,248	1,407,240
Income tax liabilities	138,367	178,699
Lease Liability	123,692	79,023
Trade and other payables	3,091,916	1,951,516
Contract liability	137,746	227,676
Provision	406,940	490,047
Current liabilities	3,898,660	2,926,961
Total liabilities	5,275,908	4,334,201
Total equity and liabilities	16,298,717	15,453,585

Approved by the Board of Directors in April 28, 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				Nkechi Ojeyokan (Chief Finance Officer) FRC/2021/001/ICAN/00000022533

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