FAN MILK LIMITED
Un-Audited Financial Statements for the year ended December 31, 2012
STATEMENT OF COMPREHENSIVE
INCOME FO...
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Fan Milk Limited FY 2012 results

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Fan Milk Limited FY 2012 results

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Fan Milk Limited FY 2012 results

  1. 1. FAN MILK LIMITED Un-Audited Financial Statements for the year ended December 31, 2012 STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED DECEMBER 31, 2012 2012 GH¢'000 2011 GH¢'000 Revenue Cost of Sales Gross Profit Distribution Costs Administrative Expenses Depreciation & Amortisation Other Income Operating Profit Finance Income Finance Cost Net Profit before tax Taxation Net Profit after tax Other Comprehensive Income 147,212 (66,614) 80,598 (29,536) (11,239) (7,428) 446 32,841 3,917 (316) 36,442 (9,361) 27,081 0 109,280 (49,549) 59,731 (22,531) (7,933) (5,884) 350 23,733 1,680 (162) 25,251 (6,432) 18,819 0 Total Comprehensive Income 27,081 18,819 Number of Shares outstanding Earnings per Share STATEMENT OF FINANCIAL POSITION AT DECEMBER 31, 2012 ASSETS Non-current assets Property, Plant and Equipment 116,207,288 0.23 STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 2012 2012 GH¢'000 Current liabilities Trade and Other Payables Tax Dividends TOTAL LIABILITIES TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES 10,000 51,564 61,564 10,000 52,404 62,404 3,755 3,755 2,805 2,805 15,614 337 9,302 25,253 13,650 90 400 14,140 Cash Flows from Operating Activities Cash generated from Operations Interest Paid Interest Received Tax Paid Net Cash Generated from Operating Activities Cash Flows from Investing Activities Purchase of Property, Plant and Equipment Proceeds from sale of Property, Plant and Equipment Net Cash used in Investing Activities Cash Flows from Financing Activities Dividends Paid Purchase of own shares Net Cash used in Financing Activities 29,008 16,945 90,572 79,349 116,207,288 0.16 2012 GH¢'000 2011 GH¢'000 33,831 (311) 3,917 (8,196) 29,241 30,628 (162) 1,680 (5,402) 26,744 (15,910) 558 (15,352) (20,178) 209 (19,969) (18,987) 0 (18,987) (2,261) (6,249) (8,510) Decrease in Cash and Cash Equivalents (5,098) (1,735) Cash and Cash Equivalents at January 1 24,416 26,151 Cash and Cash Equivalents at December 31 EQUITY Stated capital Retained earnings TOTAL SHAREHOLDERS' EQUITY LIABILITIES Non-current liabilities Deferred Tax 2011 GH¢'000 19,318 24,416 STATEMENT OF CHANGES IN EQUITY 51,904 51,904 43,771 43,771 Current Assets Inventories Trade and Other Receivables Bank and Cash Balances 15,270 4,080 19,318 12,679 2,215 20,684 TOTAL ASSETS 38,668 90,572 35,578 79,349 Stated capital Retained earnings - January 1 Total comprehensive income Dividend for previous year Interim dividend Purchase of own shares Retained earnings - December 31 Total equity 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The principal accounting policies applied in the preparation of these quarterly financial statements are consistent to that of the most recent Annual Report and Accounts. The financial statement have been prepared on the historical cost basis, except for financial assets and liabilities held at fair value through profit and loss which have been measured at fair value. The financial statement have been prepared in accordance with International Financial Reporting Standards (IFRS). 3. COMMENTS TO THE FINANCIAL STATEMENTS The financial results for the year under review are considered satisfactory. 10,000 52,372 27,081 (4,648) (23,241) 0 51,564 10,000 42,126 18,819 (2,324) 0 (6,249) 52,372 61,564 TO THE BEST OF OUR KNOWLEDGE THE FINANCIAL STATEMENTS DO NOT CONTAIN UNTRUE STATEMENTS, MISLEADING FACTS OR OMIT MATERIAL FACTS 62,372 Dr. Charles Mensa Board Chairman Jesper B. Jeppesen Managing Director 2. DIVIDEND Final dividend per share of GHS0.04 amounting to GHS 4.65 million was declared and approved at the AGM in May 2012 for the year 2011 . In November 2012, the Directors announced an interim dividend per share of GHS0.20 amounting to GHS23.4million. Total dividend paid during the year was GHS18.99 million.

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