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
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Vitafoam Nig Ltd. published this content on 29 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2022 18:40:07 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.