Vitafoam Nigeria : NIG PLC.- QUARTER 3 - FINANCIAL STATEMENT FOR 2023

VITAFOAM NIGERIA PLC

UNAUDITED CONSOLIDATED AND SEPARATE INTERIM FINANCIAL

STATEMENTS

FOR THE 9 MONTHS ENDED JUNE 30, 2023

VITAFOAM NIGERIA PLC

QUARTER 3 ENDED 30 JUNE 2023

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, 2023

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

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Vitafoam Nigeria Plc

Unaudited Consolidated and Separate Interim Financial Statements for the 9 Months ended June 30, 2023

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-23	30-June-22	30-June-23	30-June-22	30-June-23	30-June-22	30-June-23	30-June-22
	N'000	N'000	N'000	N'000	N'000	N'000	N'000	N'000
Revenue	3	39,238,129	35,655,619	13,891,060	11,079,999		35,929,383	32,501,238	11,678,062	9,243,050
Cost of Sales	4	(25,620,973)	(23,467,154)	(9,582,792)	(7,446,494)	(24,464,003)	(22,526,542)	(8,114,705)	(6,346,530)
Gross profit		13,617,156	12,188,465	4,308,268	3,633,505		11,465,380	9,974,696	3,563,357	2,896,520
Other gains and losses	8	190,234	217,997	39,173	66,815		406,597	395,832	62,226	67,983
Administrative expenses	5	(6,933,544)	(4,859,278)	(3,008,658)	(1,990,045)	(5,766,480)	(3,397,167)	(2,807,278)	(1,433,547)
Distribution expenses	6	(1,625,294)	(1,184,365)	(525,909)	(384,538)	(1,529,627)	(1,117,819)	(486,561)	(357,377)
Operating profit		5,248,552	6,362,819	812,874	1,325,737		4,575,870	5,855,542	331,744	1,173,579
Finance income		917,209	676,317	290,005	241,653		916,498	667,570	289,887	239,363
Finance cost	7	(877,683)	(496,574)	(412,747)	(162,901)	(864,685)	(448,387)	(408,140)	(151,080)
Profit before taxation		5,288,078	6,542,562	690,132	1,404,489		4,627,683	6,074,725	213,491	1,261,862
Taxation		(1,590,390)	(2,001,517)	(104,739)	(446,232)	(1,396,875)	(1,822,265)	(72,386)	(393,768)
Profit for the period		3,697,688	4,541,045	585,393	958,257		3,230,808	4,252,460	141,105	868,094
Exchange difference on translating foreign operations		(97,269)	73,217	148,159	7,572		-	-	-	-
Gain on valuation of investment in equity instruments designated as at FVTOCI		6,568	(508)	5,796	(508)	6,568	(508)	-	(508)
Other comprehensive income		(90,701)	72,709	153,955	7,064		6,568	(508)	-	(508)
Total comprehensive income for the period		3,606,987	4,613,754	739,348	965,321		3,237,376	4,251,952	141,105	867,586
Profit attributable to :
Equity holders of the parent		3,328,599	4,198,111	405,385	856,690		3,237,376	4,252,460	141,105	868,094
Non-controlling interests		369,089	342,934	180,008	101,567		-	-	-	-
		3,697,688	4,541,045	585,393	958,257		3,237,376	4,252,460	141,105	868,094
Earnings per share for profit from total operations attributable to equity holders
of parent
Basic and diluted		266.11 k	335.62 k	32.41 k	68.49 k	258.82 k	339.93k	11.28 k	69.40 k

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