CADBURY NIGERIA : QUARTER 2 - FINANCIAL STATEMENT FOR 2023

Cadbury Nigeria Plc

Un-audited Interim Financial Information

for the Half Year Ended 30 June 2023

	Cadbury Nigeria Plc
	Un-audited Interim Financial Information
	for the half year ended 30 June 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 information	7

			Cadbury Nigeria Plc
		Un-audited Interim Financial Information
			for the half year ended 30 June 2023
Financial highlights
For the Half Year Ended 30 June 2023
In thousands of naira
	Un-audited		Un-audited
	30-Jun		30-Jun
	2023	2022		Change %
Revenue	35,607,764	27,876,672	28
Gross profit	10,229,567	5,853,904	75
Results from operating activities	6,072,127	2,848,366	113
(Loss)/Profit before tax	(14,539,468)	3,345,412	(535)
(Loss)/Profit for the period	(14,539,468)	2,341,789	(721)
Share capital	939,101	939,101	-
Total equity	(1,424,868)	15,037,630	(109)
Data per 50k share
Basic earnings per share	(774.12)	124.68	(721)
Net asset per share	(76)	801	(109)

Cadbury Nigeria Plc

Un-audited Interim Financial Information

for the half year ended 30 June 2023

Statement of financial position

As at 30 June 2023

In thousands of naira

		Un-audited		Audited
		30-Jun		30-Jun
	Note	2023	2022
Assets
Non-current assets
Property, plant and equipment	9	14,858,758	14,070,993
Right-of-use assets	18	29,822	38,973
Intangible assets	10	3,682		6,813
Total non-current assets		14,892,262	14,116,779
Current assets
Inventories	11	12,061,137	11,913,166
Trade and other receivables	12	7,745,378	5,164,146
Prepayments	13	897,802	1,071,815
Cash and cash equivalents	14	39,168,565		27,447,778
Total current assets		59,872,882	45,596,905
Total assets		74,765,144		59,713,684
Equity and liabilities
Equity
Share capital		939,101	939,101
Share premium		272,344	272,344
Other reserves		3,248,320	3,436,348
Share based payment reserve	15	176,896	176,896
Retained earnings		(6,061,529)		8,477,939
Total equity		(1,424,868)	13,302,628
Liabilities
Non-current liabilities
Borrowings	19	13,125,792	7,640,590
Deferred taxation		1,092,687	1,092,687
Employee benefits		615,202	576,884
Lease liabilities	18	11,283		12,494
Total non-current liabilities		14,844,964	9,322,655
Current liabilities
Borrowings	19	36,818,727	16,219,870
Current tax liabilities	8	32,986	383,006
Trade and other payables	16	24,492,680	20,484,918
Lease liabilities	18	655		606
Total current liabilities		61,345,048	37,088,401
Total liabilities		76,190,012	46,411,056
Total equity and liabilities		74,765,144		59,713,684

These financial statements were approved by the Board of Directors on 25 July 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.

Cadbury Nigeria Plc

Un-audited Interim Financial Information

for the half year ended 30 June 2023

Statement of profit or loss and other comprehensive income for the Half Year Ended 30 June 2023

		Un-audited		Un-audited		Un-audited		Un-audited
		1 April-30 June		30 June		1 April-30 June		30 June
In thousands of naira	Note	2023		2023		2022		2022
Revenue	5	19,044,632	35,607,764	15,088,010	27,876,672
Cost of sales		(11,823,092)	(25,378,196)	(12,466,965)	(22,022,768)
Gross profit		7,221,540		10,229,567		2,621,045		5,853,904
Other income	6	(3,353,197)	7,056	8,551	25,629
Selling and distribution expenses		(1,805,331)	(3,360,583)	(1,427,205)	(2,442,169)
Administrative expenses		(544,082)	(803,914)	(277,339)	(588,998)
Results from operating activities		1,518,930		6,072,127		925,052		2,848,366
Net finance income	7	(20,991,651)		(20,611,595)		218,146		497,046
(Loss)/Profit before tax		(19,472,721)	(14,539,468)	1,143,198	3,345,412
Income tax expense	8	1,479,976	-	(342,959)	(1,003,623)
(Loss)/Profit for the period		(17,992,745)		(14,539,468)		800,238		2,341,789
Other comprehensive income								-
Total comprehensive (Loss)/income for the period		(17,992,745)		(14,539,468)		800,238		2,341,789
Basic earning per share (kobo)		(958)	(774)	43	125

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