Champion Breweries : BREW. PLC.- QUARTER 2 - FINANCIAL STATEMENT FOR 2023

Champion Breweries Plc

RC: 13388

Unaudited Condensed Interim Financial Statements

30th June, 2023

Champion Breweries Plc

Condensed Interim Financial Statements for the six months period ended - 30th June 2023

Contents	Page
Condensed interim income statement for the three months period ended 30th June	2
Condensed interim statement of other comprehensive income for the
Month period ended 30th June	3
Condensed interim statement of financial position	4
Condensed interim statement of changes in equity	5
Condensed interim statement of cash flows	6-7
Notes to the condensed interim financial statements	8-10

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CONDENSED INTERIM INCOME STATEMENT

For the six month period ended 30th June

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 before tax

Champion Breweries Plc

Condensed Interim Financial Statements for the six months period ended - 30th June 2023

Quarter to date	Quarter to date	Year to date	Year to date
30th June	30th June	30th June	30th June
	Restated		Re-stated
2023	2022	2023	2022
N'000	N'000	N'000	N'000
3,120,923	3,349,031	5,705,948	6,575,684
(2,323,209)	(2,184,417)	(4,432,921)	(4,208,914)
797,714	1,164,614	1,273,027	2,366,770
19,741	71,921	43,665	103,950
(412,552)	(294,363)	(701,658)	(556,181)
(209,377)	(204,132)	(539,117)	(402,632)
195,525	738,040	75,918	1,511,907
3,366	26,211	10,253	53,019
(15,835)	(21,496)	(40,353)	(35,811)
(12,469)	4,715	(30,100)	17,208
183,057	742,755	45,818	1,529,115

Income tax expenses	(57,407)	(221,220)	(16,744)	(453,380)
Profit after tax	125,649	521,535	29,073	1,075,735
Profit for the year attributable to:
Owners of the Company	125,649	521,535	29,073	1,075,735
Non-controlling interest	-	-	-	-
Profit for the period	125,649	521,535	29,073	1,075,735
Basic and diluted earnings per share (kobo)	1.60	6.66	0.37	13.74

2

Champion Breweries Plc

Condensed Interim Financial Statements for the six months period ended - 30th June 2023

CONDENSED INTERIM STATEMENT OF
OTHER COMPREHENSIVE INCOME
For the six months period ended 30th June 2023
	Quarter to date	Quarter to date	Year to date Year to date
	30th June	30th June	30th June	30th June
	2023	2022	2023	2022
	N'000	N'000	N'000	N'000
Profit/(Loss) for the period	125,649	521,535	29,073	1,075,736
Other comprehensive income, net of tax	-	-	-	-
Total comprehensive income for the period	125,649	521,535	29,073	1,075,736

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Champion Breweries Plc

Condensed Interim Financial Statements for the six months period ended - 30th June 2023

CONDENSED CONSOLIDATED INTERIM STATEMENT OF FINANCIAL POSITION
As at:		Restated
	30th June	31st Dec
	2023	2022
	N'000	N'000
ASSETS
Property, plant and equipment	12,631,947	10,298,837
Right of use asset	692,740	482,335
Deferred tax assets	55,590	-
Non-current assets	13,380,277	10,781,172
Inventories	1,509,654	1,401,426
Trade and other receivables	277,511	73,196
Contract asset	1,184,313	947,029
Prepayments	129,898	61,957
Cash and cash equivalents	1,350,649	2,188,805
Current assets	4,452,024	4,672,413
Total assets	17,832,302	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	3,012,997	2,983,924
Total Equity	11,148,458	11,119,384
LIABILITIES
Employee benefits	465,133	479,047
Lease Liability	752,099	445,076
Deferred tax laibility	509,231	483,117
Non-current liabilities	1,726,463	1,407,240
Income tax liabilities	79,956	178,699
Lease Liability	0	79,023
Trade and other payables	4,231,907	1,951,516
Contract liability	140,047	227,676
Provision	505,471	490,047
Current liabilities	4,957,381	2,926,961
Total liabilities	6,683,845	4,334,201
Total equity and liabilities	17,832,302	15,453,585

Approved by the Board of Directors in July, 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:

Rasheed Adebiyi (Chief Finance Officer) FRC/2023/PRO/ICAN/001/423509

The notes on pages 8 to 10 are an integral part of these financial statements.

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