margarine industries limited abridged unaudited financial statements ...

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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.