Vitafoam Nigeria : NIG PLC.- QUARTER 1 - FINANCIAL STATEMENT FOR 2022

Vitafoam Nigeria Plc.

Consolidated and Separate Financial Statements

for 3 months ended 31 December 2021

VITAFOAM NIGERIA PLC

QUARTER 1 ENDED 31 DECEMBER 2021

SECURITIES TRADING POLICY

In compliance with Rule 17.15 Disclosure of Dealings in Issuers' Shares, Rulebook of The Exchange 2015 (Issuers' Rule), Vitafoam Nigeria Plc maintains a Security Trading Policy (Policy) which guides Directors, Audit Committee members, employees and all individuals categorized as insiders in relation to their dealings in the Company's shares. The Policy undergoes periodic review by the Board and is updated accordingly. The Company has made specific inquiries of all its directors and other insiders and is not aware of any infringement of the Policy during the period.

Vitafoam Nigeria Plc.

Consolidated and Separate Financial Statements for 3 months ended 31 December 2021

Contents

	Page
Corporate information	2
Consolidated and Separate Statements of Profit or Loss and Other Comprehensive Income	3
Consolidated and Separate Statements of Financial Position	4
Consolidated and Separate Statements of Changes in Equity	5
Consolidated and Separate Statements of Cash Flows	7
Significant accounting policies	8
Notes to the Consolidated and Separate Financial Statements

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Vitafoam Nigeria Plc.

Consolidated and Separate Financial Statements for 3 months ended 31 December 2021

Corporate Information

Directors	Dr. Bamidele O. Makanjuola	Chairman
	Mr. Taiwo A. Adeniyi	Group Managing Director/CEO
	Mr. Joseph Alegbesogie, FCA	Finance Director
	Mr. Bamidele S. Owoade	Commercial Director
	Mrs. Adeola Adewakun	Non- Executive Director
	Mr. Gerson Sliva	Non- Executive Director
	Prof. (Mrs.) Rosemary Egonmwan	Independent Non-Executive
		Director
	Mr. Achike C. Umunna	Independent Non-Executive
		Director (Appointed 19 December 2019
	Mr. Abdul A. Bello	Independent Non- Executive Director
		(Appointed 04/03/21)
Registrar	Meristem Registrars Limited
	213, Herbert Macaulay Way,
	Adekunle, Yaba, Lagos
Auditors	Deloitte & Touche
	Civic Towers Plot GA 1,Ozumba
	Mbadiwe Avenue, Victoria Island, Lagos
Registered office	140, Oba Akran Avenue
	Ikeja Industrial Estate
	Lagos, Nigeria
Website	www.vitafoam.com.ng
Bankers	Bank of industry Limited
	Zenith Bank Plc.
	First Bank of Ngeria Limited
	United Bank for Africa Plc
	Wema Bank Plc
	Jaiz Bank Plc
	Access Bank Plc
	Union Bank of Nigeria Plc
Company Secretary	Mr. Olalekan Sanni
Company registration number	RC 3094

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Vitafoam Nigeria Plc.

Consolidated and Separate Financial Statements for 3 months ended 31 December 2021

Consolidated and Separate Statements of Profit or Loss and Other Comprehensive Income

Group	Company

	Note
Revenue	2
Cost of sales	3
Gross profit
Other gains and losses	4
Distribution costs	6
Administrative expenses	5
Operating profit
Finance income	8
Finance costs	7
Profit before taxation
Taxation	9
Profit for the period
Other comprehensive income:
Items that may be reclassified subsequently to profit or loss:
Foreign exchange differences on translation of foreign operations
Other comprehensive (loss)/income for the period net of taxation
Total comprehensive income for the period
Profit attributable to:
Owners of the parent
Non-controlling interest
Total comprehensive income attributable to:
Owners of the parent
Non-controlling interest
Earnings per share
From Continuing operaions
Basic earnings per share (kobo)	22
Diluted earnings per share (Kobo)	22

3 months ended December 31	3 months ended December 31
2021	2020	2021	2020
N '000	N '000	N '000	N '000
12,716,184	8,666,259	11,531,199	7,845,404
(8,729,347)	(5,804,288)	(8,221,617)	(5,545,300)
3,986,837	2,861,971	3,309,582	2,300,104
(23,590)	39,943	77,476	79,160
(388,011)	(277,358)	(375,471)	(265,763)
(1,206,536)	(930,481)	(912,970)	(704,876)
2,368,700	1,694,075	2,098,617	1,408,625
189,811	26,119	186,482	22,279
(154,684)	(190,485)	(137,022)	(154,611)
2,403,827	1,529,709	2,148,077	1,276,293
(714,504)	(417,226)	(643,793)	(381,121)
1,689,323	1,112,483	1,504,284	895,172
(54,560)	(41,573)	-	-
(54,560)	(41,573)	-	-
1,634,763	1,070,910	1,504,284		895,172
1,551,714	752,744	1,504,284	895,172
137,609	359,739	-	-
1,689,323	1,112,483	1,504,284	895,172
1,497,154	711,171	1,504,284	895,172
137,609	359,739	-	-
1,634,763	1,070,910	1,504,284	895,172
124.00	89.00	120.00	72.00
124.00	89.00	120.00	72.00

The accounting policies and the notes on pages 8 to 38 form an integral part of the consolidated and separate financial statements.

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