Mar 31, 2018 - 31 December 2017. 31 March 2018. 31 December 2017. Rs. Rs. Rs ... The interim condensed financial stateme
MARGARINE INDUSTRIES LIMITED ABRIDGED UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2018 STATEMENTS OF FINANCIAL POSITION THE GROUP 31 March 2018 31 December 2017 Rs Rs
THE COMPANY 31 March 2018 31 December 2017 Rs Rs
Non-current assets
249,959,281
252,997,775
220,752,501
226,450,273
Current assets
203,830,159
224,362,843
129,182,279
153,190,073
453,789,440
477,360,618
349,934,780
379,640,346
206,351,626
205,640,644
199,223,717
194,655,083
90,130,639
84,571,936
73,344,123
67,527,966
157,307,175
187,148,038
77,366,941
117,457,297
453,789,440
477,360,618 -
349,934,780
379,640,346 -
TOTAL ASSETS
Rs
EQUITY AND LIABILITIES
Equity attributable to equity holders of the parent Non-current liabilities Current liabilities TOTAL EQUITY AND LIABILITIES
Rs
(0)
0
STATEMENTS OF COMPREHENSIVE INCOME THE GROUP Quarter ended Quarter ended 31 March 2018 31 March 2017 Rs Revenue Operating Profit Finance Costs Profit before taxation Taxation Profit after taxation
Rs
Rs
Rs
156,414,667
86,684,597
61,418,972
57,366,711
3,858,782 (1,514,414) 2,344,368 (1,633,387)
2,978,184 (1,610,614) 1,367,568 (429,940)
7,105,982 (1,014,304) 6,091,678 (1,523,045)
2,090,722 (1,057,721) 1,033,001 (367,683)
710,981
937,628
4,568,633
665,318
Rs
Other comprehensive income Total comprehensive income attributable to owners of the company
Earnings per share
THE COMPANY Quarter ended Quarter ended 31 March 2018 31 March 2017
Rs
-
-
710,981
937,628
2.37
-
-
4,568,632
665,318
3.12 #REF!
#REF!
#REF!
STATEMENTS OF CHANGES IN EQUITY THE GROUP Quarter ended Quarter ended 31 March 2018 31 March 2017 Rs Balance at 1 January Profit/(Loss) Other comprehensive income Balance at 31 March
Rs
THE COMPANY Quarter ended Quarter ended 31 March 2018 31 March 2017 Rs
Rs
205,640,644
196,995,086
194,655,083
188,265,319
710,981
937,628
4,568,633
665,318
206,351,625 1
197,932,714 (0.24)
199,223,717 0
188,930,637 (0.06)
MARGARINE INDUSTRIES LIMITED ABRIDGED UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2018 STATEMENTS OF CASH FLOWS THE GROUP Quarter ended Quarter ended 31 March 2018 31 March 2017 Rs
Rs 25,075,379
THE COMPANY Quarter ended Quarter ended 31 March 2018 31 March 2017 Rs
Rs
NET CASH (USED IN)/GENERATED FROM OPERATING ACTIVITIES
(10,321,978)
NET CASH (USED IN)/GENERATED FROM INVESTING ACTIVITIES
(1,521,620)
NET CASH /GENERATED FROM/(USED IN) FINANCING ACTIVITIES
7,207,552
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS
(4,636,046)
7,623,236
CASH AND CASH EQUIVALENTS - OPENING
(8,704,019)
(12,015,703)
(10,489,139)
(5,286,082)
CASH AND CASH EQUIVALENTS - CLOSING
(13,340,066) -
(4,392,467) (0.32)
(9,896,580) -
6,258,476 0
(805,770) (16,646,373)
1,638,670 2,562,753 (3,608,864) 592,559
20,887,591 (186,849) (9,156,184) 11,544,558
SEGMENTAL INFORMATION - GROUP THE GROUP
Revenue Manufacturing Trading Segment Results Manufacturing Trading Profit before taxation Taxation Profit after taxation
Quarter ended 31 March 2018
Quarter ended 31 March 2017
Rs
Rs
61,418,972 94,995,695 156,414,667 2,079,194 265,174 2,344,368 (1,633,387) 710,981 -
57,366,711 29,317,885 86,684,597 1,033,000 334,568 1,367,568 (429,940) 937,628 0
0 710,981
NOTES: The interim condensed financial statements for the three months ended 31 st March 2018 are unaudited and are prepared using the same accounting policies and methods of computation as those adopted in the statutory financial statements for the year ended 31 st December 2017. Group Results With effect as from 01 January 2018, Central Distributors Company Limited, the wholly owned subsidiary of Margarine Industries Limited (MIL) has been entrusted the sole distributorship of MIL products. The Group has shown improved revenue as a result of growth and diversification strategies. Turnover increased by 80.4% compared to same period last year as a result of the LPG distribution for Total Mauritius Ltd, with effect as from 01 April 2017. The profit after tax has decreased from Rs 0.9m to Rs 0.7m . Prospects: We expect that the strong competition in the markets in which the Group operates to continue to prevail. The strategies in place, will help to mitigate the impact of the market conditions. The prospects are therefore set to remain fair. By order of the Board Currimjee Secretaries Ltd Secretary Dated this 14th May 2018 The Board of Directors of Margarine Industries Limited accepts full responsibility for the accuracy of the information contained in these condensed unaudited financial statements prepared in accordance with International Financial Reporting Standards. Copies of the report are available to the public, free of charge, at the registered office of the Company: 38, Royal Street, Port Louis. These Financial Statements are issued pursuant to DEM Rule 17 and Rule 8 of the Securities (Disclosure Obligations Of Reporting Issuers) Rules 2007. The statement of direct and indirect interests pursuant to rule 8(2) (m) of the Securities Act (Disclosure of Reporting Issuers) Rules 2007 is available free of charge at the registered office of the Company.
