CHEMICAL AND ALLIED PRODUCTS : QUARTER 1 - FINANCIAL STATEMENT FOR 2023

FINANCIAL

STATEMENTS FOR THE PERIOD ENDED

31 MARCH 2023

Chemical and Allied Products Plc

Unaudited Financial Statements

For the Period Ended 31 March 2023

Contents
Financial Highlights	3
Statement of profit or loss and other comprehensive income	4
Statement of financial position	5
Statement of cash flows	6
Statement of change in Equity	7
Notes to the Financial Statements	8-41

2

Chemical and Allied Products Plc

Unaudited Financial Statements

For the Period Ended 31 March 2023

Financial highlights	3 Months to	3 Months to
	%
	Mar 2023	Mar 2022
	₦'000	₦'000	change
Revenue	3,971,244	4,655,782	(15)
Operating profit	390,894	760,085	(49)
Finance income	208,099	21,651	861
Profit before taxation	576,496	781,326	(26)
Taxation	(187,361)	(250,024)	(25)
Profit for the year	389,135	531,301	(27)
Total equity and liabilities	15,112,129	12,331,544	23
Additions to property, plant & equipment (PPE)	126,082	91,566	38
Depreciation on PPE	107,869	73,720	46
Cash and cash equivalents	3,746,530	2,112,971	77
Earnings per share (kobo) - Basic and diluted	48	67	(29)
Net asset per share (kobo) - Basic	887	627	41

3

Chemical and Allied Products Plc

Unaudited Statement of Profit or Loss and Other Comprehensive Income For the Period Ended 31 March 2023

Revenue

Cost of sales

Gross profit

Selling and Marketing expenses Administrative expenses Other income

Operating profit

Finance income

Finance cost

Net Finance income

Profit before taxation

Income tax expense

Profit for the year

Other comprehensive income for the year net of tax

Total comprehensive income for the year

Earnings per share for profit attributable to the equity holders of the company:

Notes

5

7i

7iii

7ii

6

9

10

11

3 Months to	3 Months to
Mar 2023	Mar 2022
₦'000	₦'000
3,971,244	4,655,782
(2,612,882)	(2,848,069)
1,358,362	1,807,713
(340,115)	(450,482)
(736,882)	(637,810)
109,530	40,664
390,894	760,085
208,099	21,651
(22,496)	(411)
185,602	21,240
576,496	781,326
(187,361)	(250,024)
389,135	531,301

389,135531,301

Basic and diluted EPS (kobo)

13

4867

The financial statements have been approved and authorised for issue by the board of Directors on 19th April, 2023

The accompanying notes to the financial statements form part of these financial statements.

4

Chemical and Allied Products Plc Unaudited Statement of Financial Position For the Period Ended 31 March 2023

Assets

Non-current assets Property, plant and equipment Right of use asset Intangible assets

Finance lease receivable

Current assets

Inventories

Trade and other receivables Finance lease receivable Prepayments

Cash and cash equivalents

Assets held for sale

Total assets

Liabilities Non-current liabilities Lease Liability

Deferred taxation liabilities

Current liabilities

Trade and other payables Lease liability

Current income tax liabilities Import finance facility Dividend payable

Total liabilities

Ordinary share capital Share premium

Other Reserves from business combination

Retained Earnings

Equity attributable to equity holders of the Company Total equity

Total equity and liabilities

Notes

14

16

15

18b

17

18a

18b

19

20

24

23

21

24

11

26

12

21

21

2023	2022
₦'000	₦'000
1,730,311	1,723,492
9,706	11,206
376,297	394,821
10,372	10,372
2,126,686	2,139,891

6,153,696 5,100,796

751,016 868,135

600600

2,095,462 1,297,565

3,746,530 3,761,078

12,747,304 11,028,174

238,139 238,139

12,985,443 11,266,313

15,112,129 13,406,204

8,2007,874

328,672 328,672

336,872 336,546

4,569,270 3,350,598

1,4171,417

1,110,161 922,800

645,540 735,110

1,460,132 1,460,132

7,786,521 6,470,057

8,123,393 6,806,603

407,374 407,374

523,850 523,850

968,267 968,267

5,089,245 4,700,110

6,988,736 6,599,601

6,988,736 6,599,601

15,112,129 13,406,204

Mrs. Awuneba Ajumogobia		Mrs. Bolarin Okunowo	Mr. Yomi Adenson
Chairman		Managing Director	Finance Director & Risk
FRC/2020/003/00000020872		FRC/2020/003/00000020768	FRC/2021/001/00000023429

The financial statements have been approved and authorised for issue by the board of Directors on 19th April, 2023

The accompanying notes to the financial statements form part of these financial statements.

5