Long service award. 1,181,111. 1,340,140. 971,878. 1,142,397. Total non-current liabilities. 83,158,202. 76,224,800. 19,
FLOUR MILLS OF NIGERIA PLC CONDENSED CONSOLIDATED AND SEPARATE STATEMENT OF COMPREHENSIVE INCOME FOR THE SIX MONTHS ENDED 30TH SEPTEMBER 2015
Group 3 months ended 30/09/2015 Note Revenue Cost of sales Gross profit
5a 5b
Other gains/ losses
5c
Selling and distribution expenses Administrative expenses Operating profit
5d 5e
Investment income Finance costs Share of results of associates Gain on disposal of investment in associate
5f
Profit before tax Income tax credit / (expense) Profit from countinuing operations Profit from discountinued operation Profit for the year
6
Company
6 months ended 3 months ended 6 months ended 30/09/2015 30/09/2014 30/09/2014 N'000
N'000
N'000
N'000
N'000
N'000
N'000
N'000
N'000
95,301,908 (86,948,614) 8,353,294
177,583,206 (159,353,628) 18,229,578
81,592,972 (73,868,682) 7,724,290
165,540,366 (148,056,047) 17,484,319
308,756,526 (273,389,567) 35,366,959
70,178,409 (65,035,888) 5,142,521
131,699,101 (119,835,328) 11,863,773
61,413,744 (54,696,497) 6,717,247
123,186,056 (108,564,276) 14,621,780
229,777,869 (204,834,346) 24,943,523
899,666
1,776,572
1,800,660
2,639,559
(1,415,806) (2,606,879) 5,230,275
(2,717,325) (5,062,936) 12,225,889
(1,439,033) (2,453,398) 5,632,519
(2,773,294) (4,939,321) 12,411,263
(4,184,382) (20,281,760) 10,215,767
(1,186,017) (2,080,560) 1,890,968
(2,430,204) (3,981,656) 5,868,893
(1,136,000) (1,928,654) 3,978,126
(2,382,341) (3,958,565) 8,869,682
(3,670,990) (12,155,155) 6,806,318
91,052 (6,132,057) -
485,930 (12,334,361) -
1,092,499 (4,646,235) 149,512
2,058,519 (10,183,885) 1,487,176
2,303,588 (18,703,526) (381,012)
474,713 (3,137,949) -
877,884 (6,676,671) -
644,823 (2,265,986) -
1,304,787 (5,010,269) -
3,652,727 (9,548,061) -
23,732,452
23,732,452
22,921,722
24,109,910
2,228,295
5,773,073
7,724,770
(772,268)
70,106
2,356,963
5,164,200
125,617 23,047,339
(90,589) 24,019,321
(682,852) 1,545,443
(1,404,953) 4,368,120
179,725 (592,543)
(14,021) 56,085
(470,453) 1,886,510
(1,064,728) 4,099,472
1,508,560 2,419,544
23,047,339
24,019,321
1,545,443
4,368,120
738,292 8,463,062 11,280 8,474,342
(592,543)
56,085
1,886,510
4,099,472
2,419,544
-
-
(685,050)
14,289,953
15,024
-
416,980
-
325,533
-
588,808
-
416,644 (20,740)
Total comprehensive income Profit attributable to: Owners of the Company Non-controlling interests
Total comprehensive income attributable to: Owners of the Company Non-controlling interests
7
Audited year ended 31/03/2015
N'000
Acturial gain Fair value gain on AFS
Earnings per share - Basic (kobo) Earnings per share - Basic (kobo)
Audited year ended 3 months ended 6 months ended 3 months ended 6 months ended 31/03/2015 30/09/2015 30/09/2015 30/09/2014 30/09/2014
(2,311,060)
910,984
319,689 (20,740)
23,047,339
24,019,321
1,545,443
4,368,120
8,870,246
(592,543)
56,085
1,886,510
4,099,472
2,718,493
22,774,838 272,501 23,047,339
23,606,716 412,605 24,019,321
1,403,197 142,246 1,545,443
3,977,473 390,647 4,368,120
9,016,545 (542,203) 8,474,342
(592,543)
56,085
1,886,510
4,099,472
(592,543)
56,085
1,886,510
4,099,472
2,419,544 2,419,544
22,774,838 272,501 23,047,339
23,606,716 412,605 24,019,321
1,403,197 142,246 1,545,443
3,977,473 390,647 4,368,120
9,416,938 (546,692) 8,870,246
(592,543) (592,543)
56,085 56,085
1,886,510 1,886,510
4,099,471 4,099,471
2,718,493 2,718,493
868
900
59
167
344
(23)
2
79
172
92
868
900
59
167
344
(23)
2
79
172
92
FLOUR MILLS OF NIGERIA PLC CONDENSED CONSOLIDATED AND SEPARATE STATEMENT OF FINANCIAL POSITION FOR THE SIX MONTHS ENDED 30TH SEPTEMBER 2015 Group 30/09/2015 N'000
Note Non-current assets Property, plant and equipment Biological assets Intangible assets Investment properties Goodwill Investment in subsidiaries Investment in associates Trade Investments/Other financial assets Deffered tax assets Long term loans receivable Other long term assets
8b, 8d 8c 8e, 8f 8d 8a 9 9 9 10
Total non-current assets Current assets Inventories Biological assets Trade receivables Other receivables Other assets Non-current assets held for sale Due from related companies Cash and deposits
11 8c 12 12 12
Company 30/09/2015 31/03/2015 N'000 N'000
31/03/2015 N'000
212,790,448 58,509 458,083 4,148,022 -
208,940,475 58,509 496,248 4,148,022 -
114,716 1,763,903
114,716 3,904,188 1,583,075
219,333,682
219,245,233
79,479,430 59,479 974,489 3,792,985 503,966 346,856 -
85,157,205
80,421,776 96,642 985,655 3,787,985 503,966 4,228,758 -
90,024,782
70,873,548 400,995 7,996,121 4,007,183 4,059,428 773,147 16,069,423
68,426,003 399,081 9,836,228 5,537,220 3,060,090 3,514,035 1,699,790 31,131,719
48,032,254 4,346,718 48,527,705 2,819,243 433,186 9,007,528
47,921,280 4,783,656 67,135,284 1,781,894 1,652,708 18,230,274
Total current assets
104,179,844
123,604,166
113,166,634
141,505,096
Total assets
323,513,526
342,849,399
198,323,839
231,529,878
1,312,126 36,812,540 281,201 64,014,466
1,312,126 36,812,540 281,201 45,946,617
1,312,126 36,812,540 53,072,156
1,312,126 36,812,540
13
Equity Share capital Share premium account Capital reserve Retained earnings Equity attributable to owners of the Company Non-controlling interest
58,527,000
102,420,334 3,470,514
84,352,484 3,057,911
91,196,822 -
96,651,666 -
105,890,848
87,410,395
91,196,822
96,651,666
Term loans Unsecured fixed rate bond Deffered revenue Deferred taxation Retirement benefit obligation Long service award
63,736,616 6,208,087 9,087,811 2,944,576 1,181,111
55,260,645 7,182,184 9,196,523 3,245,308 1,340,140
6,245,006 1,058,230 8,800,110 2,409,157 971,878
5,164,630 1,102,914 8,800,109 2,552,715 1,142,397
Total non-current liabilities
83,158,202
76,224,800
19,484,381
18,762,765
Current liabilities Bank Overdraft Short term loans Unsecured fixed rate bond Deffered revenue Trade payables Other payables Due to related companies Provisions Current tax liabilities Dividends
14 14
Total current liabilities
39,417,963 46,578,715 9,230,484 691,923 10,982,644 26,350,354 59,394 1,037,399 115,599
59,700,951 54,239,491 19,248,115 1,472,527 22,440,179 20,120,608 22,290 47,126 1,802,610 120,307
15,161,455 27,023,042 9,230,484 256,367 10,080,478 25,214,193 20,195 540,824 115,599
41,025,619 23,329,671 19,248,115 249,326 18,197,848 13,319,730 624,831 120,307
134,464,476
179,214,204
87,642,637
116,115,447
Total liabilities
217,622,678
255,439,004
107,127,018
134,878,212
Total equity and liabilities
323,513,526
342,849,399
198,323,840
231,529,878
0
0
(0)
-
The financial statements were approved by the board of directors and authorised for issue on October ..., 2015. They were signed on its behalf by:
___________________________ Director
___________________________ Director -
0.19
Page 2
FLOUR MILLS OF NIGERIA PLC CONDENSED CONSOLIDATED AND SEPARATE STATEMENT OF CHANGES IN EQUITY FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2015
GROUP
Equity attributable to equity holders of the Parents
Share Capital
Revaluation reserve
Share premium
Capital reserve
N'000
N'000
N'000
N'000
Retained Non controlling Earnings interest N'000
N'000
Total Equity N'000 -
Balance at 1 April 2015 Transfer from total comprehensive income for the period Dividend payment Balance at 30 September 2015
1,312,126
36,812,540
281,201
45,946,617 23,606,716 (5,538,868)
1,312,126
-
36,812,540
281,201
64,014,466
3,057,911 412,605 3,470,516
87,410,396 24,019,321 (5,538,868) 105,890,850
COMPANY Equity attributable to equity holders of the Company
Share Capital
Revaluation reserve
Share premium
Capital reserve
N'000
N'000
N'000
N'000
Retained Non controlling Earnings interest N'000
N'000
Total Equity N'000 -
Balance at 1 April 2015
1,312,126
36,812,540
58,527,003
Transfer from total comprehensive income for the period payment Dividend Balance at 30 September 2015
-
56,085
56,085
(5,510,932) 1,312,126
-
36,812,540
-
53,072,156
96,651,669
(5,510,932) -
91,196,822
Page 3
FLOUR MILLS OF NIGERIA PLC CONDENSED CONSOLIDATED AND SEPARATE STATEMENT OF CASHFLOWS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2015 Group 30/09/2015 N'000 Cash flows from operating activities 24,109,910 Profit before tax 6,764,414 Depreciation and amortization 12,334,361 Interest expenses (485,930) Interest received (23,732,452) Gain on sale of investment 18,035 Loss/(profit) on disposal of fixed assets Profit before changes in working capital
Company 30/09/2015 N'000 70,106 3,068,702 6,676,671 (877,884) (2,697)
19,008,338
8,934,898
(2,447,545) 1,840,107 1,530,037 (1,914) (999,338) 926,643 (11,457,535) 6,229,746 (22,290) (300,732) (159,029) 12,268 (108,712) (1,754,701)
(110,974) 436,938 18,607,579 (1,037,349) 1,219,522 (8,117,370) 11,894,463 (143,558) (170,519) 20,196 1
Net changes in working capital
(6,712,995)
22,561,286
Cash Flow from operating activities Tax paid
12,295,343 (855,800)
31,496,184 (98,028)
Net Cash Flow from operating activities
11,439,543
31,398,156
(10,594,182) 21,886 (21,961) 27,246,488 (180,828) 485,930 3,904,188
(2,084,697) 9,960 (593) (5,000) 877,884 3,881,902
20,861,521
2,679,456
Term loans Repayment of bond Dividend paid Interest paid
815,196 (10,017,631) (5,543,576) (12,334,361)
4,773,747 (10,017,631) (5,515,640) (6,676,671)
Net Cash flow from Financing activities
(27,080,372)
(17,436,195)
5,220,692
16,641,417
Cash and cash equivalents at beginning of Period/year
(28,569,232)
(22,795,345)
Cash and cash equivalents at end of the period
(23,348,540)
(6,153,928)
16,069,423 (39,417,963) (23,348,540)
9,007,528 (15,161,455) (6,153,927)
31,131,719 (59,700,951) (28,569,232)
18,230,274 (41,025,619) (22,795,345)
Changes in Working Capital (Increase)/ Decrease in Inventory (Increase)/ Decrease in Net trade receivables (Increase)/ Decrease in Other receivables (Increase)/ Decrease in Biological assets (current) (Increase)/ Decrease in Other assets (Increase)/ Decrease in due from related companies Increase/ (Decrease) in Trade creditors Increase/ (Decrease) in Other payable Increase/ (Decrease) in Amount due to related companies Increase/ (Decrease) in Retirement benefit obligations Increase/ (Decrease) in Long service award Increase/ (Decrease) in Sundry provisions Increase/ (Decrease) in Deferred taxation Increase/ (Decrease) in Deferred revenue
Investing activities Purchase of assets Proceeds on sale of assets Purchase of intangible assets Proceeds on sale of investment investments in subsidiaries Other Long term assets Investment income Long term loan receivable Net Cash flow from investing activities
(37,643)
Financing activities
Net Cash Flow
Closing Bank deposits balances and cash Bank overdrafts
Opening Bank deposits balances and cash Bank overdrafts
Page 4
