VITAFOAM NIGERIA PLC

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.