GLAXOSMITHKLINE CONSUMER NIGERIA PLC
UNAUDITED CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2022
Unaudited consolidated and separate statement of profit or loss and other comprehensive income For the period ended 31 March 2022
GROUP
COMPANYThree months ended 31
March, 2022
Three months Three months
31 December 2021
Notesended 31
March, 2021
N'000
ended 31
March, 2022
N'000
Revenue Cost of sales
31 December 2021
N'000
5
Three months ended 31
March, 2021
N'000
7,360,033 (5,401,774)
N'000
22,449,824 (16,270,135)
N'000
3,461,892 (2,424,087)
7,360,033 (5,401,774)
22,449,824 (16,270,135)
3,461,892 (2,424,087)
Gross profit
1,958,259
6,179,689
1,037,805
1,958,259
6,179,689
1,037,805
Investment income Other gains and losses Impairment of financial assets Finance costs
Selling and distribution costs
Administrative expensesProfit/ (loss) before tax
Income tax expense
7 8
26,317
93,545
(63,163)
6,128 (34,121)
(12,950)
26,317 (63,163) (12,950)
106,633
(87,403)
-93,545
6,128
106,633 (34,121)
(6,694) (2,071)
(4,669)
6.1 6.1
-
(1,070,359)
(3,542,294)
(552,270)
(742,844) (1,070,359)
(1,799,749)
(496,268) (551,641)
(87,403) (6,694)
(4,669) -2,071.00
(3,542,294) (742,844)
(1,797,235) (496,018)
285,834
945,752
10.1
(238,065)
(91,467)
286,463
(286,941)
948,266 (237,815)
-
(91,668)
(286,941)
-
Total profit/(loss) for the year
Other comprehensive income net of income tax:
Items that will not be reclassified to profit or loss:
Total comprehensive income for the year, net of tax
Profit for the year attributable to: Shareholders of the Company Non-controlling interest
Total comprehensive income for the year attributable to:
Shareholders of the Company Non-controlling interest
Basic and diluted earnings per share (Kobo)
From continuing operations
From continuing and discontinuing operations
194,367
-
11 11
- | - | - | - | - | - |
194,367 | 658,811 | (238,065) | 194,795 | 661,325 | (237,815) |
194,367 | 658,811 | (238,065) | 194,795 | 661,325 | (237,815) |
- | - | - | - | - | - |
194,367 | 658,811 | (238,065) | 194,795 | 661,325 | (237,815) |
194,367 | 658,811 | (238,065) | 194,795 | 661,325 | (237,815) |
- | - | - | - | - | - |
194,367 | 658,811 | (238,065) | 194,795 | 661,325 | (237,815) |
16 | 55 | (20) | 16 | 55 | (20) |
16 | 55 | (20) | 16 | 55 | (20) |
658,811
-
(238,065)
-
194,795
-
661,325
-
(237,815)
-
Unaudited consolidated and separate statement of financial position As at 31 March 2022
GROUP | COMPANY |
As at 31
As at 31
As at 31 | December | As at 31 | As at 31 | December | As at 31 | ||
March, 2022 | 2021 | March, 2021 | March, 2022 | 2021 | March, 2021 | ||
Notes | N'000 | N'000 | N'000 | N'000 | N'000 | N'000 | |
Property, plant and equipment | 12 | 517,758 | 540,339 | 1,789,947 | 517,758 | 540,339 | 1,789,947 |
Deferred tax asset | 10.2 | 231,223 | 231,223 | 450,956 | 231,223 | 231,223 | 450,956 |
Right of use assets | 7,240 | 14,481 | 69,974 | 7,240 | 14,481 | 69,974 | |
Investment property | 584,334 | 585,532 | 153,758 | 584,334 | 585,532 | 153,758 | |
Investment in subsidiary | 13 | - | - | - | 160 | 160 | 160 |
1,340,556 | 1,371,575 | 2,464,635 | 1,340,716 | 1,371,735 | 2,464,795 | ||
Current assets | |||||||
Inventories | 14 | 7,260,405 | 6,045,400 | 4,317,134 | 7,260,405 | 6,045,400 | 4,317,134 |
Trade and other receivables | 15 | 5,760,283 | 5,170,886 | 3,060,367 | 5,760,283 | 5,170,886 | 3,060,367 |
Other assets | 16 | 126,065 | 202,846 | 398,257 | 126,065 | 202,846 | 398,257 |
Cash and bank balances | 17 | 11,289,241 | 12,746,570 | 9,362,133 | 11,289,241 | 12,746,570 | 9,362,133 |
Assets classified as asset held for sale | 715,455 | 715,455 | - | 715,455 | 715,455 | - | |
25,151,448 | 24,881,157 | 17,137,891 | 25,151,448 | 24,881,157 | 17,137,891 | ||
Total assets | 26,492,004 | 26,252,732 | 19,602,526 | 26,492,164 | 26,252,892 | 19,602,686 | |
Equity and liabilities | |||||||
Equity | |||||||
Issued share capital | 18.1 | 597,939 | 597,939 | 597,939 | 597,939 | 597,939 | 597,939 |
Share premium | 18.2 | 51,395 | 51,395 | 51,395 | 51,395 | 51,395 | 51,395 |
Retained Earnings | 8,844,481 | 8,650,116 | 8,231,590 | 8,675,565 | 8,480,771 | 8,059,983 | |
Total equity | 9,493,815 | 9,299,450 | 8,880,924 | 9,324,899 | 9,130,105 | 8,709,317 | |
Non-current liabilities | |||||||
Liability for share-based payments | 26,279 | 26,279 | 30,730 | 26,279 | 26,279 | 30,730 | |
Total non-current liabilities | 26,279 | 26,279 | 30,730 | 26,279 | 26,279 | 30,730 | |
Current liabilities | |||||||
Trade and other payables | 19 | 16,637,028 | 16,731,849 | 9,774,629 | 16,819,649 | 16,915,099 | 9,960,142 |
Lease liabilities | - | 1,500 | 54,063 | - | 1,500 | 54,063 | |
Contract liabilities | 19.1 | 140,601 | 90,841 | 79,257 | 140,601 | 90,841 | 79,257 |
Income tax payable | 10.1 | 194,280 | 102,813 | 782,923 | 180,735 | 89,067 | 769,177 |
Total current liabilities | 16,971,909 | 16,927,003 | 10,690,872 | 17,140,985 | 17,096,507 | 10,862,639 | |
Total liabilities | 16,998,188 | 16,953,282 | 10,721,602 | 17,167,265 | 17,122,787 | 10,893,369 | |
Total equity and liabilities | 26,492,004 ` | 26,252,732 | 19,602,526 | 26,492,164 | 26,252,892 | 19,602,686 |
Assets Non-current assets
The consolidated and separate financial statements were approved and authorised for issue by the Board of Directors on 26 April 2022 and signed on its behalf by:
Mr. Edmund C. Onuzo | Mr. Olakunle Azeez Oyelana | Adewale Vincent |
Chairman | Managing Director | Senior Finance Manager |
FRC/2015/IODN/00000011038 | FRC/2020/003/00000020395 | FRC/2018/ICAN/00000018187 |
GlaxoSmithKline Consumer Nigeria Plc
Unaudited consolidated and separate statement of changes in equity For the period ended 31 March 2022
Share | Share | Retained | ||
capital | premium | earnings | Total | |
Group | N'000 | N'000 | N'000 | N'000 |
At 1 January 2021 | 597,939 | 51,395 | 8,469,655 | 9,118,989 |
Profit for the period | - | - | (238,065) | (238,065) |
At 31 March 2021 | 597,939 | 51,395 | 8,231,590 | 8,880,924 |
At 1 January 2021 | 597,939 | 51,395 | 8,469,655 | 9,118,989 |
Profit for the year | - | - | 658,811 | 658,811 |
Dividends declared | - | - | (478,351) | (478,351) |
At 1 January 2022 | 597,939 | 51,395 | 8,650,115 | 9,299,449 |
Profit for the period | - | - | 194,367 | 194,367 |
At 31 March 2022 | 597,939 | 51,395 | 8,844,481 | 9,493,815 |
Share | Share | Retained | ||
capital | premium | earnings | Total | |
Company | N'000 | N'000 | N'000 | N'000 |
At 1 January 2021 | 597,939 | 51,395 | 8,297,798 | 8,947,132 |
Profit for the period | - | - | (237,815) | (237,815) |
At 31 March 2021 | 597,939 | 51,395 | 8,059,983 | 8,709,317 |
At 1 January 2021 | 597,939 | 51,395 | 8,297,798 | 8,947,132 |
Profit for the year | - | - | 661,325 | 661,325 |
Dividends declared | - | - | (478,351) | (478,351) |
At 1 January 2022 | 597,939 | 51,395 | 8,480,771 | 9,130,106 |
Profit for the period | - | - | 194,795 | 194,795 |
At 31 March 2022 | 597,939 | 51,395 | 8,675,565 | 9,324,900 |
Unaudited consolidated and separate statement of cash flows For the period ended 31 March 2022
GROUP | COMPANY |
Three | |||||||
Three months | Three months | months | Three months | ||||
ended 31 | 31 December | ended 31 | ended 31 | 31 December | ended 31 | ||
March, 2022 | 2021 | March, 2021 | March, 2022 | 2021 | March, 2021 | ||
Notes | N'000 | N'000 | N'000 | N'000 | N'000 | N'000 | |
Cash flows from operating activities | |||||||
Profit for the year | 194,367 | 658,811 | (238,065) | 194,795 | 661,325 | (237,815) | |
Adjustment for: | |||||||
Income tax expense recognised in profit or loss | 91,467 | 286,941 | - | 91,668 | 286,941 | - | |
Depreciation (including investment property and | |||||||
right of use asset) | 12 | 31,019 | 434,232 | 106,372 | 31,019 | 434,232 | 106,372 |
Loss/(gain) on disposal of property, plant and | |||||||
equipment | 8 | (476) | (6,183) | (71) | (476) | (6,183) | (71) |
Interest on term deposits | 7 | (26,317) | (93,545) | (6,128) | (26,317) | (93,545) | (6,128) |
Finance cost | - | 4,669 | 2,071.00 | - | 4,669 | 2,071.00 | |
Other adjustments to property, plant and equipment | - | 18,475 | 10,120 | - | 18,475 | 10,120 | |
Share based payment expense | - | 6,027 | - | - | 6,027 | - | |
Working capital adjustments: | |||||||
Changes in inventories | (1,215,005) | (2,762,961) | (1,034,695) | (1,215,005) | (2,762,961) | (1,034,695) | |
Changes in trade receivables | (589,397) | (520,930) | 1,589,587 | (589,397) | (520,930) | 1,589,587 | |
Changes in prepayments | 76,781 | 170,929 | (24,482) | 76,781 | 170,928 | (24,482) | |
Changes in contract liabilities | 49,760 | (14,765) | (26,349) | 49,760 | (14,765) | (26,349) | |
Changes in trade and other payables | (87,506) | 3,126,137 | (3,805,016) | (88,135) | 3,123,624 | (3,805,266) | |
(1,475,307) | 1,307,837 | (3,426,655) | (1,475,308) | 1,307,838 | (3,426,655) | ||
VAT paid | (7,315) | (195,962) | - | (7,315) | (195,962) | - | |
Income tax paid | 10 | - | (747,318) | - | - | (747,318) | - |
Net cash generated by operating activities | (1,482,622) | 364,557 | (3,426,655) | (1,482,622) | 364,557 | (3,426,655) | |
Cash flows from investing activities | |||||||
Proceeds from sale of property, plant and | |||||||
equipment | 476 | 6,183 | 71 | 476 | 6,183 | 71 | |
Interest received | 7 | 26,317 | 93,545 | 6,128 | 26,317 | 93,545 | 6,128 |
Purchase of right of use asset | - | (183,277) | - | - | (183,277) | - | |
Purchase of property, plant and equipment | 12 | - | (43,441) | (48,375) | - | (43,441) | (48,375) |
Net cash flows generated by/(used in) investing | |||||||
activities | 26,793 | (126,990) | (42,176) | 26,793 | (126,989) | (42,176) | |
Cash flows from financing activities | |||||||
Share based payment settlement | - | (10,478) | - | - | (10,478) | - | |
Final dividends paid to shareholders of the | |||||||
Company | - | (256,322) | - | - | (256,322) | - | |
Lease liability paid | (1,500) | (153,220) | (54,618) | (1,500) | (153,220) | ||
Proceed from lease liability | - | 43,441 | - | - | 43,441 | ||
Net cash flows used in financing activities | (1,500) | (376,579) | (54,618) | (1,500) | (376,579) | ||
Net increase in cash and cash equivalents | (1,457,329) | (139,012) | (3,523,449) | (1,457,329) | (139,012) | ||
Cash and cash equivalents at 1 January | 12,746,570 | 12,885,582 | 12,885,582 | 12,746,570 | 12,885,582 | ||
Cash and cash equivalents at 31 March & | |||||||
December | 17 | 11,289,241 | 12,746,570 | 9,362,133 | 11,289,241 | 12,746,570 |
-
-54,618.00 - 54,618.00
(3,523,449) 12,885,582
9,362,133
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Glaxo Smithkline Consumer Nigeria plc published this content on 28 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 April 2022 09:14:06 UTC.