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CONSOLIDATED AND SEPARATE STATEMENT OF PROFIT OR LOSS FOR THE YEAR ENDED 31ST DECEMBER, 2016 Group Company Revenue Production cost of sales Gross profit Administrative expenses Selling and distribution expenses Other income Profit from operating activities Finance income** Finance costs** Profit before tax Income tax credit/(expense) Profit for the year Profit for the year attributable to: Owners of the Company Non-Controlling Interests Earnings per share, basic and diluted (Naira) 13 10 10 14 Notes Year ended Year ended Year ended Year ended 31-Dec-16 ₦’million 615,103 5 7 8 9 11 31-Dec-15 ₦’million 491,725 (323,816) 291,287 (36,669) (82,667) 10,542 182,493 43,817 (45,381) 180,929 5,695 186,624 193,302 (6,678) 186,624 11.34 (201,808) 289,917 (32,546) (53,500) 3,951 207,822 13,949 (33,477) 188,294 (6,971) 181,323 184,994 (3,671) 181,323 10.86 31-Dec-16 31-Dec-15 ₦’million ₦’million 426,129 (178,129) 248,000 (17,087) (51,949) 4,766 183,730 224,708 (34,042) 374,396 (6,191) 368,205 368,205 - 368,205 21.61 389,215 (130,418) 258,797 (23,924) (43,323) 2,148 193,698 54,348 (27,479) 220,567 (7,396) 213,171 213,171 - 213,171 12.51 ** Prior year amounts have been regrouped to align with current year presentation. This does not have any impact on the results (See Note 10). The accompanying notes on pages 150 to 212 and other national disclosures on pages 213 to 215 form an integral part of these consolidated and separate financial statements. 144 Annual Report 2016

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