CADBURY NIGERIA : QUARTER 2 - FINANCIAL STATEMENT FOR 2023

Cadbury Nigeria Plc

Un-audited Interim Financial Information

for the Period Ended 31 March 2023

	Cadbury Nigeria Plc
	Un-audited Interim Financial Information
	for the First Quarter 31 March 2023
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 statements	7

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			Cadbury Nigeria Plc
		Un-audited Interim Financial Information
			for the First Quarter 31 March 2023
Financial highlights
For the First Quarter Ended 31 March 2023
In thousands of naira
	Un-audited		Un-audited
	31 March		31 March
	2023	2022		Change %
Revenue	16,563,132	12,788,662	30
Gross profit	6,358,590	3,232,859	97
Results from operating activities	4,553,198	1,923,314	137
Profit before tax	4,933,254	2,202,214	124
Profit for the period	3,453,278	1,541,550	124
Share capital	939,101	939,101	-
Total equity	16,755,906	15,177,904	10
Data per 50k share
Basic earnings per share	183.86	82.08	124
Net asset per share	892	808	10

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Cadbury Nigeria Plc

Un-audited Interim Financial Information

for the First Quarter 31 March 2023

Statement of financial position

As at 31 March 2023

In thousands of naira

		Un-audited		Audited
		31 March		31 December
	Note	2023	2022
Assets
Non-current assets
Property, plant and equipment	9	13,961,262	14,070,993
Right-of-use assets	18	34,397	38,973
Intangible assets	10	5,247		6,813
Total non-current assets		14,000,906	14,116,779
Current assets
Inventories	11	13,218,142	11,913,166
Trade and other receivables	12	6,034,102	5,164,146
Prepayments	13	1,666,550	1,071,815
Cash and cash equivalents	14	34,260,908		27,447,778
Total current assets		55,179,702	45,596,905
Total assets		69,180,608		59,713,684
Equity and liabilities
Equity
Share capital		939,101	939,101
Share premium		272,344	272,344
Other reserves		3,436,348	3,436,348
Share based payment reserve	15	176,896	176,896
Retained earnings		11,931,217		8,477,939
Total equity		16,755,906	13,302,628
Liabilities
Non-current liabilities
Borrowings	19	7,813,787	7,640,590
Deferred taxation		1,092,687	1,092,687
Employee benefits		609,388	576,884
Lease liabilities	18	11,015		12,494
Total non-current liabilities		9,526,877	9,322,655
Current liabilities
Borrowings	19	20,165,690	16,219,870
Current tax liabilities	8	1,862,982	383,006
Trade and other payables	16	20,868,507	20,484,918
Lease liabilities	18	646		606
Total current liabilities		42,897,825	37,088,401
Total liabilities		52,424,702	46,411,056
Total equity and liabilities		69,180,608		59,713,684

These financial statements were approved by the Board of Directors on 17 April 2023 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 24 form an integral part of these financial statements.

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Cadbury Nigeria Plc

Un-audited Interim Financial Information

for the First Quarter 31 March 2023

Statement of profit or loss and other comprehensive income for the First Quarter 31 March 2023

		Un-audited		Un-audited
		31 March		31 March
In thousands of naira	Note	2023		2022
Revenue	5	16,563,132	12,788,662
Cost of sales		(10,204,542)	(9,555,803)
Gross profit		6,358,590		3,232,859
Other income	6	9,827	17,078
Selling and distribution expenses		(1,555,251)	(1,014,964)
Administrative expenses		(259,968)	(311,659)
Results from operating activities		4,553,198		1,923,314
Net finance income	7	380,056		278,900
Profit before tax		4,933,254	2,202,214
Income tax expense	8	(1,479,976)	(660,664)
Profit for the period		3,453,278		1,541,550
Other comprehensive income		-		-
Total comprehensive income for the period		3,453,278		1,541,550
Basic earning per share (kobo)		184	82

The accompanying notes on pages 7 to 24 form an integral part of these financial statements.

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