BERGER PAINTS NIGERIA : QUARTER 2 - FINANCIAL STATEMENT FOR 2023

Berger Paints Nigeria Plc Unaudited Report - Second Quarter ended

30 June 2023

Berger Paints Nigeria Plc

Second Quarter Report

30 June 2023

Contents	Page
Corporate Information	2
Financial Highlights	4
Statement of Financial Position	5
Statement of Profit or Loss and Other Comprehensive Income	6
Statement of Changes in Equity	7
Statement of Cash Flows	8
Notes to the Financial Statements	9
Other National Disclosures	54

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Berger Paints Nigeria Plc

Second Quarter Report

30 June 2023

Corporate Information

Board of Directors:	Abi Ayida	-	Chairman
	Adekunle Olowokande	-	Non - Executive Director
	Raj Mangtani (Indian)	-	Non - Executive Director
	Ogechi Iheanacho	-	Non - Executive Director
	Erejuwa Gbadebo	-	Independent Non - Executive Director
	Aisha Umar	-	Independent Non - Executive Director
	Alaba Fagun	-	Managing Director
Company
Secretary/Legal	Omolara Bello
Adviser
Registered Office:	102, Oba Akran Avenue,
	Ikeja, Industrial Estate
	P.M.B. 21052, Ikeja, Lagos.
Contact Details	Mobile: [phone]
	0700BERGERPAINTS [0700237437724687]
	Email: [e-mail]
	Website: www.bergerpaintsnig.com
Social Media	Facebook: www.facebook.com/BergerPaintsNigeriaPlc
Accounts

LinkedIn: www.linkedin.com/company/berger-paints-nigeria-

Twitter: www.twitter.com/BergerPaintsNg

Instagram: www.instagram.com/bergerpaintsnigeriaplc

You Tube: www.youtube.com/channel/UCD_T-Wid299NWbfHxA4rGXg

Investors Relation Berger Paints Nigeria Plc. has a dedicated investors' portal on its corporate website which can be accessed via this link: https://bergerpaintsnig.com/investor/

The Company's Investors' Relations Officer can also be reached through electronic mail at: [e-mail]; or telephone on:

[phone] for any investment related enquiry.

NSE Trading

Information

Registration

Number:

TIN

FRC Registration Number:

Registrars:

Independent

Auditor:

Bankers:

Trading Name:	Berger Paints Nig. Plc. (Berger)
Ticker Symbol:	Berger
Sector:	Industrial Goods
Sub Sector:	Building Materials
Market Classification:	Main Board
RC: 1837
01335257-0001

FRC/2012/0000000000295

Meristem Registrars Limited

213, Herbert Macaulay Way, Adekunle, Yaba, Lagos. P.O. Box 51585, Falomo, Ikoyi, Lagos

Tel: [phone]

Email: [e-mail]

Website: www.meristemregistrars.com

KPMG Professional Services

KPMG Tower

Bishop Aboyade Cole Street,

Victoria Island, Lagos

Tel: [phone] (or 8599)

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				Berger Paints Nigeria Plc
					Second Quarter Report
						30 June 2023
Financial Highlights
In thousands of naira
	6 Mths to 30		6 Mths to 30
	Jun 2023		Jun 2022		%
Revenue	3,545,294	3,004,027	18
Gross profit	1,182,943	929,022	27
Operating profit	438,020	188,005	133
Profit before taxation	439,721	185,906	137
Profit for the period	299,010	126,416	137
Share capital	144,912	144,912	-
Total equity	3,419,579	3,323,445	3
Data per 50k share
Basic earnings per share (kobo)	103	44	137
Net assets per share (Naira)	11.80	10.75	10
Market price per share as at period end (Naira)	10.00	7.70	30
Market capitalization as at period end	2,898,240	2,231,645	30

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Berger Paints Nigeria Plc

Second Quarter Report

30 June 2023

Statement of Financial Position

As at 30 June 2023

In thousands of naira

		30 June 2023		31 December 2022
Assets	Notes
Property, plant and equipment	13(a)	2,406,895	2,451,366
Intangible assets	14	22,387	27,827
Tax assets	11(c)(ii)	110,547	42,050
Investment property	15	351,694	361,874
Total non-current assets		2,891,523		2,883,117
Inventories	16	1,377,366	1,366,787
Trade and other receivables	17(a)	105,222	243,351
Deposit for imports	18	68,555	87,925
Prepayments and advances	19	121,324	91,763
Other financial assets	21	319,802	359,747
Cash and cash equivalents	20	618,646		495,838
Total current assets		2,610,915	2,645,411
Total assets		5,502,440		5,528,528
Equity
Share capital	22(a)	144,912	144,912
Share premium	22(b)	635,074	635,074
Retained earnings		2,639,593		2,543,459
Total equity		3,419,579	3,323,445
Liabilities
Loans and borrowings	25	0	0
Deferred income	24	73,980	59,005
Deferred taxation	11(e)	455,882	455,882
Total non-current liabilities		529,862		514,887
Loans and borrowings	25	(1,131)	25,131
Current tax liabilities	11(c)	193,456	14,759
Trade and other payables	23	936,841	1,226,474
Deferred income	24	33,037	33,036
Dividend payable	27	390,796	390,796
Total current liabilities		1,552,999		1,690,196
Total liabilities		2,082,861	2,205,083
Total equity and liabilities
	5,502,440		5,528,528

These financial statements were approved by the Board of Directors on 26 July, 2023 and signed on its

	Abi Ayida (FRC/2019/IODN/00000019260)
	Chairman
	Alaba Fagun (FRC/2023/PRO/DIR/003/234540)
	Director
Additionally certified by:	Onyebuchi Roberts (FRC/2013/ICAN/00000002109)
	Chief Finance Officer

The significant accounting policies and accompanying notes form an integral part of these financial statements.

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