DANGOTE CEMENT PLC
UNAUDITED INTERIM FINANCIAL STATEMENTS
FOR THE THREE MONTHS AND NINE MONTHS ENDED 30 SEPTEMBER 2021
Dangote Cement Plc
For the three months and nine months ended 30 September 2021
CONTENTS | PAGE |
Independent auditors' report on review of condensed consolidated and separate | |
interim financial statements | 2 |
Condensed consolidated and separate statements of profit or loss | 4 |
Condensed consolidated and separate statements of comprehensive income | 5 |
Condensed consolidated and separate statements of financial position | 6 |
Condensed consolidated statement of changes in equity | 7 |
Condensed separate statement of changes in equity | 8 |
Condensed consolidated and separate statements of cash flows | 9 |
Notes to the condensed consolidated and separate interim financial statements | 10 - 29 |
1
Independent Auditors' Report on Review of Condensed Consolidated and Separate Interim Financial Statements
To the Shareholders of Dangote Cement Plc
Introduction
We have reviewed the accompanying condensed consolidated and separate interim financial statements of Dangote Cement Plc ("the Company") and its subsidiaries (together, "the Group"), which comprise:
- the condensed consolidated and separate statements of financial position as at 30 September2021;
- the condensed consolidated and separate statements of profit or loss for the three-month and nine- month periods ended 30 September 2021;
- the condensed consolidated and separate statements of comprehensive income for the three- month and nine-month periods ended 30 September 2021;
- the condensed consolidated and separate statements of changes in equity for the nine-month period ended 30 September 2021;
- the condensed consolidated and separate statements of cash flows for the nine-month period ended 30 September 2021; and
- notes to the interim financial statements.
The Directors are responsible for the preparation and presentation of these condensed consolidated and separate interim financial statements in accordance with IAS 34, 'Interim Financial Reporting'. Our responsibility is to express a conclusion on these condensed consolidated and separate interim financial statements based on our review.
Scope of Review
We conducted our review in accordance with International Standard on Review Engagements 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity". A review of interim financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the accompanying 30 September 2021 condensed consolidated and separate interim financial statements are not prepared, in all material respects, in accordance with IAS 34, 'Interim Financial Reporting'.
Signed:
Goodluck C. Obi, FCA
FRC/2012/ICAN/00000000442
For: KPMG Professional Services
Chartered Accountants
29 October 2021
Lagos, Nigeria
3
Dangote Cement Plc
Condensed consolidated and separate statements of profit or loss
For the three months and nine months ended 30 September 2021
Group | Company | ||||||||||||
3 month | 9 months | 3 month | 9 months | 3 month | 9 months | 3 month | 9 months | ||||||
ended | ended | ended | ended | Year ended | ended | ended | ended | ended | Year ended | ||||
Notes | 30/09/2021 | 30/09/2021 | 30/09/2020 | 30/09/2020 | 31/12/2020 | 30/09/2021 | 30/09/2021 | 30/09/2020 | 30/09/2020 | 31/12/2020 | |||
₦'million | ₦'million | ₦'million | ₦'million | ₦'million | ₦'million | ₦'million | ₦'million | ₦'million | ₦'million | ||||
Revenue | 3 | 331,641 | 1,022,186 | 284,592 | 761,444 | 1,034,196 | 235,464 | 729,603 | 200,890 | 533,267 | 719,945 | ||
Production cost of sales | 5 | (127,273) | (403,388) | (115,120) | (317,540) | (437,970) | (79,190) | (246,475) | (60,673) | (161,725) | (225,744) | ||
Gross profit | 204,368 | 618,798 | 169,472 | 443,904 | 596,226 | 156,274 | 483,128 | 140,217 | 371,542 | 494,201 | |||
Administrative expenses | 6 | (16,717) | (47,426) | (13,901) | (39,952) | (60,339) | (7,831) | (23,789) | (8,292) | (23,082) | (32,289) | ||
Selling and distribution expenses | 7 | (50,461) | (138,036) | (41,820) | (119,462) | (153,719) | (32,109) | (92,748) | (30,155) | (89,300) | (112,919) | ||
Other income | 8 | 1,163 | 7,214 | 698 | 3,438 | 4,754 | 440 | 2,453 | 553 | 2,918 | 1,922 | ||
Impairment of financial assets | (226) | (226) | - | - | (188) | (280) | (280) | - | - | (3,318) | |||
Profit from operating activities | 138,127 | 440,324 | 114,449 | 287,928 | 386,734 | 116,494 | 368,764 | 102,323 | 262,078 | 347,597 | |||
Finance income | 9 | 4,443 | 13,851 | 8,104 | 18,330 | 29,814 | 17,463 | 59,283 | 10,983 | 73,941 | 112,031 | ||
Finance costs | 9 | (18,337) | (48,688) | (13,444) | (34,298) | (43,988) | (11,309) | (29,732) | (9,631) | (23,320) | (28,881) | ||
Share of profit from associate | - | - | - | - | 750 | - | - | - | - | - | |||
Profit before tax | 124,233 | 405,487 | 109,109 | 271,960 | 373,310 | 122,648 | 398,315 | 103,675 | 312,699 | 430,747 | |||
Income tax expense | 11.1 | (37,613) | (127,237) | (26,567) | (63,275) | (97,242) | (35,189) | (114,278) | (24,605) | (58,882) | (78,138) | ||
Profit for the period/year | 86,620 | 278,250 | 82,542 | 208,685 | 276,068 | 87,459 | 284,037 | 79,070 | 253,817 | 352,609 | |||
Profit for the period/year | |||||||||||||
attributable to: | |||||||||||||
Owners of the Company | 10 | 85,372 | 275,926 | 81,877 | 208,777 | 275,080 | 87,459 | 284,037 | 79,070 | 253,817 | 352,609 | ||
Non-controlling interests | 1,248 | 2,324 | 665 | (92) | 988 | - | - | - | - | - | |||
86,620 | 278,250 | 82,542 | 208,685 | 276,068 | 87,459 | 284,037 | 79,070 | 253,817 | 352,609 | ||||
Earnings per share, basic and | |||||||||||||
diluted (Naira) | 10 | 5.02 | 16.23 | 4.80 | 12.25 | 16.14 | 5.14 | 16.71 | 4.64 | 14.89 | 20.69 | ||
4
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original document
- Permalink
Disclaimer
Dangote Cement plc published this content on 29 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 October 2021 07:18:06 UTC.