Honeywell Flour Mills Plc - Stanbic IBTC Stockbrokers

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Honeywell Flour Mills Plc Unaudited Interim Financial Statements for the 2nd Quarter Ended September 30, 2015 `

Honeywell Flour Mills Plc Unaudited Interim Financial Statements - 2nd quarter ended September 30, 2015.

Contents

Page 1 2 3 4 5 6

Statement of financial position Income statement Statement of comprehensive income Statement of changes in equity Statement of cash flows Notes to the interim financial statements

4 5 6 7 8 9 -29

2

HONEYWELL FLOUR MILLS PLC UNAUDITED INTERIM FINANCIAL RESULTS FOR THE QUARTER ENDED SEPTEMBER 2015 The Board of Directors of Honeywell Flour Mills Plc hereby presents the following unaudited results for the 2nd Quarter ended September 30, 2015 Unaudited 6 months ended 30-Sep-15 N'm Revenue

Audited

6 months ended 30-Sep-14 N'm

% Change

12 months ended 31-Mar-15 N'm

26,192

26,871

-3%

49,058

1,129

1,369

-17%

1,435

Taxation

(226)

(274)

-17%

(315)

Profit for the Period

903

1,095

-17%

1,120

Profit Before Tax

The Board is of the opinion that barring any unforeseen circumstances, the company's results in the next period will record improved performance By Order of the Board

Oluwayemisi Busari (Mrs.) Company Secretary

3

Honeywell Flour Mills Plc Statement of Financial Position as at September 30, 2015 Unaudited as at Note

Audited as at

30-Sep-15 N'm

31-Mar-15 N'm

Assets Non-current assets Intangible assets Property, plant and equipment

5 6

36 51,295 51,331

37 49,282 49,319

Current assets Inventories Trade and other current receivables Cash and cash equivalents

7 8 9

12,624 1,215 4,457 18,296 69,627

12,547 2,187 3,890 18,624 67,943

Current liabilities Financial liabilities Trade payables and other current liabilities Current tax liabilities

10 11 12

31,651 743 343 32,737

30,915 815 131 31,861

Non-current liabilities Financial liabilities Post-retirement benefits Deferred tax liabilities Accruals and deferred income

10 13 12 15

11,461 1,036 3,531 40 16,068 48,805

11,215 962 3,517 73 15,767 47,628

14

3,965 6,462 10,395 20,822 69,627

3,965 6,462 9,889 20,316 67,943

Total assets Liabilities

Total liabilities Equity Shareholders' equity Called up share capital Share premium Retained earnings Total equity Total liabilities and equity

4

Honeywell Flour Mills Plc Income Statement for the period ended September 30, 2015 Unaudited 6 Months ended

Audited 12 Months ended

Unaudited 3 Months ended

30-Sep-15 N'm

30-Sep-14 N'm

30-Sep-15 Nm

30-Sep-14 Nm

31-Mar-15 N'm

26,192 (21,115) 5,077 83 (3,589)

26,871 (22,257) 4,614 286 (3,320)

13,395 (10,631) 2,764 20 (1,861)

13,680 (11,321) 2,359 229 (1,751)

49,058 (41,554) 7,504 233 (5,552)

Operating profit

1,571

1,580

923

837

2,185

Finance cost Finance income Net finance income/(expense) Profit before taxation Taxation

(575) 133 (442) 1,129 (226)

(970) 759 (211) 1,369 (274)

(264) 76 (188) 735 (115)

(245) 192 (53) 784 (151)

(1,231) 481 (750) 1,435 (315)

903

1,095

620

633

1,120

11.39

13.81<