Vitafoam Nigeria : NIG PLC.- QUARTER 3 - FINANCIAL STATEMENT FOR 2022

VITAFOAM NIGERIA PLC

UNAUDITED CONSOLIDATED AND SEPARATE INTERIM FINANCIAL

STATEMENTS

FOR THE 9 MONTHS ENDED JUNE 30, 2022

VITAFOAM NIGERIA PLC

QUARTER 3 ENDED 30 JUNE 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 9 Months ended June 30, 2022

Content

Index	Page
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

1

Vitafoam Nigeria Plc

Unaudited Consolidated And Separate Interim Financial Statements for the 9 Months ended June 30, 2022

Statements of profit or loss and other comprehensive income

						Group									Company
		9 Months to	9 Months to		3 Months to		3 Months to	9 months to	9 months to	3 Months to	3 Months to
	Notes	30-June-22	30-June-21		30-June-22		30-June-21	30-June-22	30-June-2130-June-22	30-June-21
	N'000		N'000			N'000			N'000			N'000	N'000	N'000	N'000
Revenue	3		35,655,619	26,833,038	11,079,999	8,889,055		32,501,238	24,280,448	9,243,050	7,392,878
Cost of Sales	4		(23,467,154)	(17,269,101)	(7,446,494)	(6,040,657)	(22,526,542)	(16,571,304)	(6,346,530)	(5,164,453)
Gross profit			12,188,465	9,563,937	3,633,505	2,848,398		9,974,696	7,709,144	2,896,520	2,228,425
Other gains and losses	8			217,997		217,569		66,815	20,017		395,832	268,710	67,983	65,323
Administrative expenses	5			(4,859,278)	(3,758,808)	(1,990,045)	(1,428,520)	(3,397,167)	(2,841,804)	(1,433,547)	(1,107,907)
Distribution expenses	6			(1,184,365)		(891,813)	(384,538)	(159,525)	(1,117,819)	(856,709)	(357,377)	(148,574)
Operating profit				6,362,819	5,130,885	1,325,737	1,280,370		5,855,542	4,279,341	1,173,579	1,037,267
Finance income				676,317		104,646	241,653	45,396		667,570	102,286	239,363	45,381
Finance cost	7			(496,574)		(507,433)	(162,901)	(154,666)	(448,387)	(420,493)	(151,080)	(128,898)
Profit before taxation				6,542,562	4,728,098	1,404,489	1,171,100		6,074,725	3,961,134	1,261,862	953,750
Taxation				(2,001,517)	(1,319,658)	(446,232)	(330,497)	(1,822,265)	(1,187,903)	(393,768)	(284,484)
Profit for the period				4,541,045	3,408,440	958,257	840,603		4,252,460	2,773,231	868,094	669,266
Exchange difference on translating foreign operations				73,217		114,360		7,572	3,184		-	-	-	-
Gain on valuation of investment in equity instruments designated as at FVTOCI				(508)		-		(508)	-		(508)	-	(508)	-
Other comprehensive income				72,709		114,360		7,064	3,184		(508)	-	(508)	-
Total comprehensive income for the period				4,613,754	3,522,800	965,321	843,787		4,251,952	2,773,231	867,586	669,266
Profit attributable to :
Equity holders of the parent				4,198,111	3,043,559	856,690	725,643		4,251,952	2,773,231	868,094	669,266
Non-controlling interests				342,934		364,881	101,567	114,960		-	-	-	-
					4,541,045	3,408,440	958,257	840,603		4,251,952	2,773,231	868,094	669,266
Earnings per share for profit from total operations attributable to equity holders
of parent
Basic and diluted				335.62 k		243.32 k		68.49 k	58.01 k		339.93 k	221.71 k	69.40 k	53.51 k

2