Jun 30, 2017 - Non-current liabilities. Retirement benefit obligation. 98,211. 95,228. Long Service Award. 25,860. 23,77
NORTHERN NIGERIA FLOUR MILLS PLC UNAUDITED RESULTS FOR THE PERIOD ENDED JUNE 30TH 2017
NORTHERN NIGERIA FLOUR MILLS PLC UNAUDITED RESULTS FOR THE PERIOD ENEDED 30th JUNE 2017 STATEMENT OF FINANCIAL POSITION Notes Jun-17 N'000 N'000
Jun-16 N'000
2,149,107 36,716 2,185,823
624,171 42,124 666,295
1,281,032 85,049 416,997 1,783,078
276,455 104,251 749,079 1,129,785
Total assets
3,968,901
1,796,080
Equity Share capital Share premium account Retained earnings Total Equity
89,100 89,521 1,025,015 1,203,636
89,100 89,521 1,068,340 1,246,961
98,211 25,860 124,071
95,228 23,773 119,001
Current liabilities Trade and Other payables 3 Short Term Intercompany Loans & Interest Current tax liabilities Accruals and provisions 4 Total current liabilities
(20,000) 2,194,966 61,952 404,276 2,641,194
388,856 6,410 34,852 430,118
Total liabilities
2,765,265
549,119
Total equity and liabilities
3,968,901
1,796,080
Non-current assets Property, plant and equipment Intangible assets Deferred tax assets Total non-current assets Current assets Inventories Trade and other receivables Cash and deposits
1 2
Non-current liabilities Retirement benefit obligation Long Service Award Total non-current liabities
NORTHERN NIGERIA FLOUR MILLS PLC UNAUDITED THREE MONTHS RESULTS - to 30TH JUNE 2017 STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
Volumes (MT) Revenue Cost of sales Gross profit/(Loss) Other operating income Selling and distribution expenses Administrative expenses Other gains and losses Operating profit/(Loss) Finance cost Interest income/(Expenses) Profit/(Loss) before tax Tax Credit Defined benefit obligations Credit Profit/(Loss) for the period Attributable to: Owners of the Company
Earnings per share - Basic (Kobo)
Jun-17 N'000 939 236,530 (228,086) 8,444 59,020 (3,202) (49,697) (5,114) 9,451
Jun-16 N'000 1,740 207,969 (221,796) (13,827) 55,171 (674) (39,757) (6,484) (5,571)
(45,391) (35,940) (35,940) -
1,598 (3,973)
(35,940)
(3,973)
(35,940)
(3,973)
(35,940)
(3,973)
(20)
(2)
(3,973)
Explanatory Notes: The efforts to restore the Company to profitability have started to yield results, although costs of borrowing have remained very high which contributed to the decline in operational profits. However with the new sorghum mill coming on stream the future still looks bright and more promising.
NORTHERN NIGERIA FLOUR MILLS PLC UNAUDITED THREE MONTHS RESULTS - to 30TH JUNE 2017 STATEMENT OF CASH FLOWS
June-17 N'000 Cash flows from operating activities Profit before tax Depreciation Interest Charged Dividend received Profit before changes in working capital
June-16 N'000
(35,941) 19,033 162 (16,746)
(3,973) 15,539 578 12,145
86,386 692 (55,390) 877
Changes in Working Capital (Increase)/ Decrease in Inventory (Increase)/ Decrease in Net Trade Receivables (Increase)/ Decrease in Intercompany Receivables (Increase)/ Decrease in Receivable from Employees (Increase)/ Decrease in Receivable from Other Receivable (Increase)/ Decrease in Prepayments Increase/ (Decrease) in Foreign Accounts Payable Increase/ (Decrease) in Local Accounts Payable Increase/ (Decrease) in Intercompany Payable Increase/ (Decrease) in Advance payments by customers Increase/ (Decrease) in Other Payable Increase/ (Decrease) in Deposit Paid Increase/ (Decrease) in Retirement Benefits Increase/ (Decrease) in Long Service Awards Increase/ (Decrease) in Deferred Taxation Increase/ (Decrease) in Sundry Provisions Net changes in working capital
(14,260) 12,617 (95,121) 56,263 (16,962) 6,420 (450) 5,025 1,294 121,667 109,059
119,678 (200) (1,759) 679 1,416 (7,546) 7,116 292,394 (44,368) 6,629 3,894 (450) 4,320 1,135 (7,210) 375,728
Cash Flow from operating activities Increase/ (Decrease) in Tax Payable Net Cash Flow from operating activities
92,313 14,116 106,429
387,872 (3,554) 384,319
Investing activities Purchase of Fixed Assets Investments Investment income Net Cash flow from investing activities
(159,209) (159,209)
(23,180) (23,180)
(162) (162)
(578) (578)
Financing activities Interest paid Issued Share Capital Share Premium Dividend paid Cash flow from Financing activities Net Cash Flow Opening Cash and bank balances Closing Cash and Bank balances
(52,942) (1,725,026) (1,777,969)
360,560 388,519 749,079
NNFM - KANO STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED JUNE 30TH 2017
COMPANY
Equity attributable to equity holders of the Company Share Share Capital Non controlling Capital premium reserve interest
N'000
Balance at 1 April 2016
89,100
N'000
N'000
N'000
89,521
Total Equity
N'000
N'000
1,072,312 (11,357)
Transfer from total comprehensive income for the period Dividend payment Balance at 31st March 2017
89,100
89,521
Balance at 1 April 2017
89,100
89,521
-
-
89,100
89,521
-
-
1,250,933 (11,357) -
1,060,955
1,239,576
1,060,955
1,239,576
(35,940) -
Transfer from total comprehensive income for the period Dividend payment Balance at 30th June 2017
Retained Earnings
1,025,015
(35,940) 1,203,636
NORTHERN NIGERIA FLOUR MILLS PLC UNAUDITED THREE MONTHS RESULTS TO JUNE 30TH 2017 PROPERTY PLANT AND EQUIPMENT
Leasehold Land & Buildings
N '000 Cost or valuation 1 April 2017 Reclassification Additions Transfers Adjustments Disposals FOR THE PERIOD ENDED JUNE 30TH 2017 Depreciation 1 April 2017 Charge Transfer Disposals Adjustments FOR THE PERIOD ENDED JUNE 30TH 2017
Plant & Machinery
Furniture & Equip
Motor Vehicles
CWIP Total
N '000
N '000
111,764
1,361,428
14,650
8,471
108,264
N '000
N '000
N '000
305,771
1,359,432
4,038
155,171
(23,121) (1,550) 126,414
1,346,778
108,264
308,259
44,294 598
789,192 16,581
102,484 333
301,761 1,520
1,514,603
3,246,659 182,330 (23,121) (1,550) 3,404,318
1,237,731 19,032 (1,550) -
(1,550) 44,892
805,773
102,817
301,731
-
1,255,213
NBV FOR THE PERIOD ENDED JUNE 30TH 2017
81,522
541,005
5,447
6,528
1,514,603
2,149,105
1 April 2017
67,470
572,236
5,780
4,010
1,359,432
2,008,928
NORTHERN NIGERIA FLOUR MILLS PLC NOTES TO THE UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30TH JUNE 2017
Note 1
Jun-17 N'000
Jun-16 N'000
INVENTORIES Raw materials Finished goods Spare parts
Note 2 TRADE & OTHER RECEIVABLES Trade Receivables Amount Due from Related Companies Other Debtors & Prepayments Staff Debtors Less Allowance for Doubtful Debts
Notes 3 & 4 TRADE & OTHER PAYABLES Trade Payables
Sundry Creditors Accruals & Provisions Advances from Customers Value Added tax Payable Withholding Taxes Amounts Due to related Companies Short Term Intercompany Loans
1,039,389 27,842 213,801
92,095 (23,330) 207,690
1,281,032
276,455
Jun-17 N'000
Jun-16 N'000
90,084 124,197 31,266 16,098 261,645 (176,596)
100,115 81,007 16,202 21,185 218,509 (114,258)
85,049
104,251
Jun-17 N'000
Jun-16 N'000
92,573 29,814 422,100 (33,468) 2,155 41,973 (108,919) 2,194,966
368,058 23,075 39,358 (7,499) 2,287 (381) 5,220 -
2,641,194
430,118
