PZ Cussons Nigeria : P Z CUSSONS NIGERIA PLC.- YEAR END - FINANCIAL STATEMENT FOR 2023

DocuSign Envelope ID: 9C188AB9-FCBD-4E99-BC0A-40CEC9F9837F

PZ CUSSONS NIGERIA PLC

Q4, 2022/23 UNAUDITED INTERIM FINANCIAL STATEMENTS

FOR THE QUARTER ENDED 31 MAY 2023

DocuSign Envelope ID: 9C188AB9-FCBD-4E99-BC0A-40CEC9F9837F

PZ Cussons Nigeria Plc

Q4, 2022/23 unaudited interim financial statements for the quarter ended 31 May 2023

Contents	Pages
Corporate information	1
Financial highlights	2
Consolidated statement of comprehensive income(Group)	3
Consolidated statement of comprehensive income(Company)	4
Consolidated statement of financial position	5
Statement of changes in equity	6-7
Statement of cash flows	8
Notes to the consolidated financial statements	9-19

DocuSign Envelope ID: 9C188AB9-FCBD-4E99-BC0A-40CEC9F9837F

PZ Cussons Nigeria Plc

Q4, 2022/23 unaudited interim financial statements for the quarter ended 31 May 2023

Corporate information

Board of Directors
Mr. G. Oyebode	- Chairman, Non-Executive Director(retired w.e.f 25 Jan 2023
Mrs. I.M.O Okauru, MFR	-	Chairman, Non-Executive Director(Appointed w.e.f 25 Jan 2023)
Mr. P. Usoro, SAN	-	Non-Executive Director(Retired w.e.f 25 Jan 2023)
Mr. P. Katsis	- Managing Director/Chief Executive Officer(Retired w.e.f 31 May 2023)
Mr. Dimitris Kostianis	- Managing Director/Chief Executive Officer(Appointed w.e.f 1 June 2023)
Ms. J. F. Coker	-	Executive Director
Mr. Z. Momoniat	-	Executive Director(Resigned w.e.f 31 Dec 2022)
Mr D. Anniss	-	Non-Executive Director
Mr. K. Massie	-	Non-Executive Director
Mallam Ballama Manu	- Independent Non-Executive Director (Appointed w.e.f 21 Nov. 2022)
Mrs. Oluwatoyin Odutayo	- Independent Non-Executive Director (Appointed w.e.f 21 Nov. 2022)

Chief Financial Officer

Mr. Brian Egan(Appointed w.e.f 1 Jan 2023)

Company Secretary / Legal Adviser

Mrs Jacqueline Ezeokwelume(Resigned w.e.f 26 Jan. 2023)

Mrs Temitope Oluwatosin(Appointed w.e.f 27 Jan 2023)

Mrs Olubukola Olonade-Agaga(Appointed w.e.f 14 Mar 2023)

Registered Office

45/47 Town Planning Way

Ilupeju Industrial Estate

P.M.B. 21132

Ikeja

Registration Number

RC 693

Registrars

First Registrars and Investors Service Limited

Plot 2, Abebe Village Road

Iganmu Complex

P.M.B. 12692

Lagos

Independent Auditors

Deloitte & Touche

Civic Towers

Plot GA1, Ozumba Mbadiwe Avenue

Victoria Island, Lagos, Nigeria

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DocuSign Envelope ID: 9C188AB9-FCBD-4E99-BC0A-40CEC9F9837F

PZ Cussons Nigeria Plc

Q4, 2022/23 unaudited interim financial statements for the quarter ended 31 May 2023

Financial highlights
	Group
	31 May 2023	31 May 2022	% Change
	₦'000	₦'000
Revenue	113,834,906	100,039,948	14
Operating profit/(loss)	8,709,406	3,078,443	183
Profit before taxation	19,867,893	9,669,405	105
Taxation	(4,516,600)	(3,269,908)	38
Profit after tax	15,351,293	6,399,496	140
Non-controlling interest	1,633,946	710,991	130
Profit attributable to equity holders of parent company	13,717,347	5,688,505	141
	15,351,293	6,399,496	140
Share capital	1,985,238	1,985,238	-
Total equity	49,080,942	37,739,831	30
Data per 50k share
Based on 3,970,477,045 ordinary shares of 50k each:
Basic and diluted earnings per share (Naira)	387	161	140

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DocuSign Envelope ID: 9C188AB9-FCBD-4E99-BC0A-40CEC9F9837F

PZ Cussons Nigeria Plc

Q4, 2022/23 unaudited interim financial statements for the quarter ended 31 May 2023

Statement of profit or loss and other comprehensive income

			Group
		date 31 May	Year to date	date 31 May	Year to date
	Note	2023	31 May 2023	2022	31 May 2022
		₦'000	₦'000	₦'000	₦'000
Revenue		26,836,978	113,834,906	25,500,214	100,039,948
Cost of sales		(18,085,516)	(81,329,573)	(18,535,888)	(75,754,253)
Gross profit		8,751,462	32,505,333	6,964,326	24,285,695
Selling and distribution expenses		(2,749,934)	(11,680,061)	(2,259,390)	(10,072,240)
Impairment of trade receivables		(2,662)	(167,976)	(26,048)	(139,423)
Administrative expenses		(2,018,818)	(6,994,226)	(1,668,899)	(6,835,994)
Exchange loss		(267,252)	(4,953,665)	(142,447)	(4,159,595)
Operating profit/(loss)		3,712,797	8,709,406	2,867,543	3,078,443
Other income	20	88,186	6,260,333	74,364	5,762,318
		-		-
Interest income		1,954,372	5,233,116	418,765	839,643
Interest cost		(186,382)	(334,961)	(3,515)	(11,000)
Net interest income		1,767,990	4,898,154	415,250	828,643
Profit before tax		5,568,973	19,867,893	3,357,156	9,669,405
Income tax expense		(1,431,532)	(4,516,600)	(2,598,788)	(3,269,908)
Profit for the year		4,137,441	15,351,293	758,368	6,399,496
Total comprehensive income/(expense) for the year	4,137,441	15,351,293	758,368	6,399,496
Equity holders of the parent company	3,499,730	13,717,347	530,942	5,688,505
Non-controlling interest		637,711	1,633,946	227,426	710,991
		4,137,441	15,351,293	758,368	6,399,496
Basic and diluted earnings/(loss)	per share (kobo)	104	387	19	161

The accompanying notes on pages 9 to 19 form an integral part of these financial statements.

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