89,521. Retained earnings. 1,087,805 1,072,316 1,298,332. Total Equity. 1,266,426 1,250,937 1,476,953. Non-current liabi
NORTHERN NIGERIA FLOUR MILLS PLC UNAUDITED SIX MONTHS RESULTS - to 30th SEPT 2016 STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE PERIOD ENDED 30th SEPT 2016 Page 1
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 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)
Sep-16 N'000 3,462 341,869 (359,820) (17,951) 121,943 (1,268) (88,295) (12,967) 1,462
March-16 10,962 979,038 (1,079,755) (100,717) 246,552 (11,619) (324,366) (90,330) (280,480)
Sep-15 N'000 6,204 549,253 (547,809) 1,444 117,811 (722) (102,984) 15,549
14,031 15,493 15,493 -
47,409 (233,071) 35,831 (197,240) 21,574
27,500 43,049
15,493
(175,666)
43,049
15,493
(175,666)
43,049
15,493
(175,666)
43,049
9
(111)
24
FRC/2014/IODN/00000008814
43,049
FRC/2016/ICAN/000000014395
NORTHERN NIGERIA FLOUR MILLS PLC UNAUDITED SIX MONTHS RESULTS - to 30th SEPT 2016 STATEMENT OF FINANCIAL POSITION Page 2 Notes Sep-16 Mar-16 N'000 N'000 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
693,398 42,124 735,522
1 2
616,533 42,124 658,657
Sep-15 N'000 691,234 5,325 696,559
195,579 396,133 457,154 90,500 296,451 453,999 2,951,973 388,519 572,605 3,238,052 1,081,103 1,483,758
Total assets
3,973,574 1,739,760 2,180,317
Equity Share capital Share premium account Retained earnings Total Equity
89,100 89,100 89,100 89,521 89,521 89,521 1,087,805 1,072,316 1,298,332 1,266,426 1,250,937 1,476,953
Non-current liabilities Long Service award Retirement benefit obligation Total non-current liabities
24,529 99,548 124,077
22,638 90,908 113,546
50,221 112,631 162,852
2,549,258 2,838 30,974 2,583,070
367,947 7,330 375,277
483,453 10,988 46,071 540,513
Total liabilities
2,707,147
488,823
703,365
Total equity and liabilities
3,973,573 1,739,760 2,180,317
Current liabilities Trade and Other payables Current tax liabilities Accruals and provisions Total current liabilities
3 4
NORTHERN NIGERIA FLOUR MILLS PLC UNAUDITED SIX MONTHS RESULTS - to 30th SEPT 2016 STATEMENT OF CASH FLOWS Page 3 Sep-16 N'000 Cash flows from operating activities Profit/(Loss) for the period Adjustments for: Depreciation and amortisation Adjustment to depreciation Property, plant and equipment adjustment Provision for bad and doubtful debt balances Provision no longer required Interest received Gain on asset disposal
Changes in assets and liabilities: Decrease/(increase) in inventories Decrease/(increase) in trade and other receivables (Decrease)/increase in trade and other payables Decrease/(increase) in retirement benefits (Decrease)/increase in long service awards Decrease in deferred taxation (Decrease)/increase in provisions Decrease in tax payable Net cash (used in)/generated by operating activities Cash flow from investing activities Proceeds from disposal of property, plant and equipme Purchase of property, plant and equipment Interest received Net cash provided by/(used in) investing activities Cash flows from financing activities Dividend paid Net cash used in financing activities Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year
Mar-16 N'000
Sep-15 N'000
15,493
(197,240)
43,049
35,128 2,039 52,661
87,230 (17,098) 62,922 84,111 22,097 (47,409) (5,387)
27,383 1,498 71,930
200,554 6,341 2,413,604 4,320 1,136 5,999 (7,126) 2,677,489
31,581 (61,439) (162,676) (203,253) (27,632) (36,799) (47,126) (14,661) (527,392)
41,110 180,525 (240,609) (143,640) (49) (11,061) (28,801) (130,594)
(111,997) (2,039) (114,036)
(20,191) 47,409 27,218
(6,530) (1,498) (8,029)
(53,460) (53,460)
-
2,563,453 388,519 2,951,973
(553,634) 942,153 388,519
(138,622) 942,153 803,531
NNFM - KANO STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED 30 SEPTEMBER 2016
COMPANY
Page 4
Equity attributable to equity holders of the Company Share Share Capital Non controlling Capital premium reserve interest N'000
Balance at 1 April 2015
89,100
N'000
N'000
N'000
89,521
Retained Earnings
Total Equity
N'000
N'000
1,301,442
1,480,063
Transfer from total comprehensive income for the period Dividend payment
-
Balance at 30 September 2015
89,100
89,521
Balance at 1 April 2016
89,100
89,521
-
-
Transfer from total comprehensive income for the period Dividend payment Balance at 30 September 2016
89,100
89,521
-
-
1,301,442
1,480,063
1,072,312
1,250,933
15,493
15,493
-
-
1,087,805
1,266,426
NORTHERN NIGERIA FLOUR MILLS PLC UNAUDITED HALF SIX-MONTHS RESULTS TO SEPTEMBER 30TH 2016 PROPERTY PLANT AND EQUIPMENT
Cost or valuation 1 April 2016 Reclassification Additions Transfers Adjustments Disposals FOR THE PERIOD ENDED 30 SEPTEMBER 2016
Page 5
Plant &
Furniture
Motor
Leasehold Land & Buildings
Machinery
& Equip
Vehicles
CWIP
N '000
N '000
N '000
N '000
N '000
111,764
Total
1,246,382
68,708
331,923
1,500
13,661 110,497
1,772,438 111,997 -
111,764
1,247,882
68,708
331,923
42,095 1,241
733,758 25,919
62,185 770
317,870 7,199
FOR THE PERIOD ENDED 30 SEPTEMBER 2016
43,336
759,677
62,955
325,069
NBV FOR THE PERIOD ENDED 30 SEPTEMBER 2016
68,428
488,205
5,753
6,854
124,158
693,398
1 April 2016
69,669
512,624
6,523
14,053
13,661
616,530
Depreciation 1 April 2016 Charge Transfer Disposals
124,158
N '000
1,884,435
1,155,908 35,129 -
1,191,037
NORTHERN NIGERIA FLOUR MILLS PLC NOTES TO THE UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30TH SEPTEMBER 2016 Page 6
Note 1
Sep-16 N'000
Mar-16 N'000
INVENTORIES Raw materials Finished goods Spare parts
16,118 9,070 170,391
215,613 23,532 156,988
195,579
396,133
102,245 65,333 17,757 19,391 204,726 (114,226)
156,726 206,659 25,428 21,864 410,677 (114,226)
90,500
296,451
891,523 21,171 30,974 5,216 2,838 1,631,348
54,156 24,171 37,073 52,672 1,905 729 197,241
2,583,070
367,947
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 Advances from Customers Value Added tax Payable Withholding Taxes Amounts Due to related Companies
