UNAUDITED CONSOLIDATED AND SEPARATE INTERIM FINANCIAL
STATEMENTS
FOR THE 6 MONTHS ENDED MARCH 31, 2022
VITAFOAM NIGERIA PLC QUARTER 2 ENDED 31 MARCH 2022
SECURITIES TRADING POLICY
In compliance with Rule 17.15 Disclosure of Dealings in Issuers' Shares, Rulebook of The Exchange 2015 (Issuers' Rule), Vitafoam Nigeria Plc maintains a Security Trading Policy (Policy) which guides Directors, Audit Committee members, employees and all individuals categorized as insiders in relation to their dealings in the Company's shares. The Policy undergoes periodic review by the Board and is updated accordingly. The Company has made specific inquiries of all its directors and other insiders and is not aware of any infringement of the Policy during the period.
Vitafoam Nigeria Plc
Unaudited Consolidated and separate interim financial statements for the 6 Months ended March 31, 2022
Content
Index
Statements of profit or loss and other comprehensive income
2
Statement of Financial Position
3
Consolidated and Separate statement of changes in equity
4- 5
Statement of Cash Flows
6
Significant Accounting Policies
7 - 18
Notes to the Unaudited Consolidated And Separate Interim Financial Statements
19 - 25
Page
1
Vitafoam Nigeria Plc
Unaudited Consolidated And Separate Interim Financial Statements for the 6 Months ended March 31, 2022
Statements of profit or loss and other comprehensive income
Group
Company
6 months to
6 months to
3 Months to
3 Months to
31-Mar-22
31-Mar-21
31-Mar-22
31-Mar-21
N'000
N'000
N'000
N'000
Revenue
3
25,336,305
18,632,430
13,728,040
10,686,345
23,258,188
16,887,570
11,726,990
9,052,313
Cost of Sales
4
(16,783,567)
(11,924,088)
(9,193,950)
(6,879,456)
(16,180,012)
(11,406,851)
(7,958,395)
(5,871,697)
Gross profit
8,552,738
6,708,342
4,534,090
3,806,889
7,078,176
5,480,719
3,768,595
3,180,616
Other gains and losses
8
150,356
147,530
83,186
142,885
327,849
203,386
199,859
137,993
Administrative expenses
5
(2,862,259)
(2,337,910)
(1,483,587)
(1,353,718)
(1,963,620)
(1,735,353)
(1,051,345)
(1,044,241)
Distribution expenses
6
(799,671)
(732,375)
(400,129)
(455,020)
(760,443)
(708,136)
(384,972)
(442,373)
Operating profit
5,041,164
3,785,587
2,733,560
2,141,036
4,681,962
3,240,616
2,532,137
1,831,995
Finance income
434,664
59,249
245,006
33,131
428,207
56,905
241,725
34,627
Finance cost
7
(333,692)
(353,611)
(178,581)
(163,299)
(297,306)
(291,595)
(160,285)
(136,985)
Profit before taxation
5,142,136
3,491,225
2,799,985
2,010,868
4,812,863
3,005,926
2,613,577
1,729,637
Taxation
(1,528,871)
(1,003,964)
(828,557)
(579,979)
(1,428,497)
(903,419)
(784,704)
(522,298)
Profit for the period
3,613,265
2,487,261
1,971,428
1,430,889
3,384,366
2,102,507
1,828,873
1,207,339
Exchange difference on translating foreign operations
56,032
106,062
(89)
(134)
-
-
-
-
Gain on valuation of investment in equity instruments designated as at FVTOCI
1,610
-
1,610
-
1,610
-
1,610
-
Other comprehensive income
57,642
106,062
1,521
(134)
1,610
-
1,610
-
Total comprehensive income for the period
3,670,907
2,593,323
1,972,949
1,430,755
3,385,976
2,102,507
1,830,483
1,207,339
Profit attributable to :
Equity holders of the parent
3,338,647
2,265,874
1,805,439
1,317,652
3,385,976
2,102,507
1,828,873
1,207,339
Non-controlling interests
274,618
221,387
165,989
113,237
-
-
-
-
3,613,265
2,487,261
1,971,428
1,430,889
3,385,976
2,102,507
1,828,873
1,207,339
Earnings per share for profit from total operations attributable to equity holders
of parent
Basic and diluted
320.39 k
217.44 k
173.26 k
126.45 k
324.93 k
201.76
175.50 k
115.86 k
6 Months to 31-Mar-22
Notes
6 Months to 31-Mar-21
N'000
N'000
3 Months to 31-Mar-22
N'000
3 Months to 31-Mar-21
N'000
2
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Vitafoam Nig Ltd. published this content on 29 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 April 2022 09:21:04 UTC.
Vitafoam Nigeria Plc is the leading Nigerian manufacturer and marketer of polyurethane foam products. Net sales by category of products break down as follows:
- Foams and foam products (98.2%): box springs (brands Vita Spring Firm, Vita Spring Flex, Vita Spring Glow, Vita Divan Bed and Vita Spring Bed), soft foams (padding foams, bedding products, mattresses, duvets, pillows, cushions, sofas, carpets, etc.) Vita Galaxy, Vita Supreme, Vita Super, Vita Grand, Vita Sofa Bed, Vita Roll, etc.) and technical and rigid foams (including thermal and cryogenic insulation materials for the construction, agricultural, energy and pharmaceutical industries);
- Wood and metal furniture (1.8%): beds, cabinets, office furniture, chairs, tables, etc. The group also offers polyurethane shoes and sandals (Vitasoft, Lekkisoft, Aerogreen, Safari, etc.).
Nigeria accounts for 98.2% of net sales.