dangote sugar refinery plc unaudited q1 consolidated and separate ...

COMPREHENSIVE INCOME FOR THE PERIOD ENDED 31 MARCH 2016 ..... Past service cost is recognised immediately in the profit and loss account to ..... as a provision is the best estimate of the consideration required to settle the ..... Interest is earned on bank deposits at an average rate of 7 % p.a. on short term ...
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DANGOTE SUGAR REFINERY PLC UNAUDITED Q1 CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31ST MARCH 2016

Contents

Consolidated and separate statement of profit or loss and other comprehensive income

2

Statement of financial position

3

Statement of changes in equity

4-5

Statement of cash flows

6

Notes to the Consolidated and Separate financial statements

7-42

1

CONSOLIDATED AND SEPARATE STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE PERIOD ENDED 31 MARCH 2016

GROUP

GROUP

GROUP

COMPANY

COMPANY

COMPANY

31/3/2016 N'000

31/12/2015 N'000

31/3/2015 N'000

31/3/2016 N'000

31/12/2015 N'000

32,617,172 (25,847,508)

101,057,905 (80,329,425)

22,522,392 (17,001,693)

31,738,622 (24,867,476)

100,092,221 (77,257,074)

22,260,072 (16,328,652)

6,769,664

20,728,480

5,520,699

6,871,146

22,835,147

5,931,421

(493,722) (1,029,389) 7,068 86,002

(890,678) (5,318,464) 11,875 1,332,736

(482,980) (784,091) 7,068 79,663

(817,872) (4,315,521) 11,875 1,083,103

Fair value adjustment

(80,363)

Finance costs Profit before tax

(146,364)

1,349,236 (664,886)

(146,364)

(651,777)

5,112,896

16,548,299

(581,743) (1,118,694) 3,377 132,805 (158,361) 3,798,082

5,544,442

18,144,955

(578,290) (902,531) 3,377 128,772 (132,504) 4,450,244

Note

31/3/2015 N'000

Continuing operations Revenue Cost of sales

5 6

Gross profit Selling and distribution expenses Administrative expenses Investment income Other income

6 7 8 9

-

Income tax expense

10

(1,774,221)

(5,013,237)

(1,424,078)

(1,774,221)

(5,485,100)

(1,424,078)

Profit for the year

11

3,338,675

11,535,062

2,374,004

3,770,221

12,659,855

3,026,166

-

Other comprehensive income/expenditure: Total comprehensive income for the year Attributable to: Owners of parent Non-controlling interest Earnings per share Basic and diluted earnings per share ( Kobo)

12

-

-

-

3,338,675

11,535,062

2,374,004

3,360,252 (21,577)

11,591,301 (56,239)

3,338,675

11,535,062

2,406,612 (32,608) 2,374,004

111

96

2

79

-

3,770,221

3,770,221 3,770,221

126

-

12,659,855

12,659,855 12,659,855

105

3,026,166

3,026,166 3,026,166 101

CONSOLIDATED AND SEPARATE STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2016

GROUP 31/3/2016 N'000 Assets Non-current assets Property, plant and equipment Intangible assets Other assets Biological assets Investments Long term investment Deferred tax assets Total non-current assets Current assets Inventories Trade and other receivables Biological assets Other assets Held for sale investment in Subsidiary Cash and cash equivalents

13 15 15a 10.5

14 16 15 17

Total current assets Total assets EQUITY Share capital Share premium Retained earnings Non-controlling interest

LIABILITIES Borrowings Employee b