eTRANZACT INTERNATIONAL PLC
UNAUDITED FINANCIAL STATEMENTS
FOR THE THIRD QUARTER ENDED 30TH SEPTEMBER 2022
eTRANZACT INTERNATIONAL PLC
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
FOR THE THIRD QUARTER ENDED 30TH SEPTEMBER 2022
Unaudited | Unaudited | Unaudited | Unaudited | |
30/09/2022 | 30/09/2021 | Q3 2022 | Q3 2021 | |
N'000 | N'000 | N'000 | N'000 | |
Continuing operations | ||||
Revenue | 16,026,498 | 17,439,030 | 4,405,252 | 6,223,358 |
Cost of sales | (12,592,181) | (15,592,808) | (2,914,849) | (5,465,063) |
Gross profit | 3,434,317 | 1,846,223 | 1,490,403 | 758,295 |
Selling and Marketing costs | (114,907) | (43,646) | (51,794) | (27,611) |
Administrative expenses | (2,292,895) | (1,659,533) | (888,678) | (616,787) |
Operating profit | 1,026,514 | 143,045 | 549,931 | 113,897 |
Other Income | - | 24,310 | - | - |
Finance Cost | (16,471) | (17,687) | (5,462) | (6,116) |
Investment income | 192,822 | 63,870 | 57,180 | 18,171 |
Profit before tax | 1,202,865 | 213,538 | 601,649 | 125,952 |
Taxation | (384,917) | (68,332) | (192,528) | (40,305) |
Profit for the period | 817,948 | 145,206 | 409,121 | 85,647 |
There is no other comprehensive income for the period, hence the profit for the period is equal to the total comprehensive income.
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eTRANZACT INTERNATIONAL PLC
STATEMENT OF FINANCIAL POSITION AS AT 30TH SEPTEMBER 2022 | |||
Unaudited | Audited | ||
30/09/2022 | 12/31/2021 | ||
Note | N'000 | N'000 | |
Non-current assets | |||
Property, plant and equipment | 1 | 991,058 | 789,103 |
Investment property | 2 | 136,810 | 136,810 |
Intangible assets | 3 | 108,343 | 149,280 |
Deposit for shares | 456,755 | 456,755 | |
Total non-current assets | 1,692,966 | 1,531,948 | |
Current assets | |||
Inventories | 6 | 1,001,726 | 1,278,609 |
Trade and other receivables | 7 | 839,896 | 963,497 |
Other assets | 5 | 2,499,097 | 1,240,463 |
Cash and cash equivalents | 8 | 12,330,921 | 5,896,939 |
Total current assets | 16,671,641 | 9,379,508 | |
Total assets | 18,364,606 | 10,911,456 | |
Non-Current liabilities | |||
Deferred tax liability | 4 | - | - |
Deferred Grant Income | 10 | 107,447 | 107,447 |
Long term Loan | 10 | 314,991 | 368,779 |
422,438 | 476,226 | ||
Current liabilities | |||
Trade and other payables | 9 | 8,450,045 | 7,802,480 |
Current tax liabilities | 11 | 574,536 | 219,059 |
Total current liabilities | 9,024,581 | 8,021,539 | |
Total liabilities | 9,447,019 | 8,497,765 | |
Equity | |||
Share capital | 12 | 4,600,000 | 3,317,283 |
Share premium account | 13 | 7,373,055 | 2,969,824 |
Retained earnings | 15 | (3,055,468) | (3,873,416) |
Total equity attributable to owners of the company | 8,917,586 | 2,413,691 | |
Total equity and Liabilities | 18,364,606 | 10,911,456 |
The financial statements was approved by the Board of Directors on October 27, 2022 and signed on its behalf by:
…………………………….. | |
Mr Niyi Toluwalope | Mr Emmanuel Ogunji |
Chief Executive Officer | Chief Financial Officer |
FRC/2013/ICAN/00000002251 | FRC/2014/ICAN/00000007266 |
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eTRANZACT INTERNATIONAL PLC
STATEMENT OF CHANGES IN EQUITY
FOR THE THIRD QUARTER ENDED 30TH SEPTEMBER 2022
Share | Convertible | Retained | |||
Share capital | premium | Debenture | earnings | Total | |
N'000 | N'000 | N'000 | N'000 | N'000 | |
Balance at 1 January 2021 | 2,100,000 | 646,875 | - | (4,329,165) | (1,582,290) |
Additions through right issue | 1,217,283 | 2,322,949 | - | - | 3,540,232 |
Profit for the year | - | - | - | 455,749 | 455,749 |
Other comprehensive income | - | - | - | - | - |
Total comprehensive income | - | - | - | 455,749 | 455,749 |
Balance at 31 December 2021 | 3,317,283 | 2,969,824 | - | (3,873,416) | 2,413,691 |
Balance at 1 January 2022 | 3,317,283 | 2,969,824 | - | (3,873,416) | 2,413,691 |
Additions through debenture issue | - | - | 5,772,225 | - | 5,772,225 |
Issue Cost | - | - | (59,281) | - | (59,281) |
Conversion of debenture to ordinary shares | 1,282,717 | 4,430,228 | (5,712,944) | - | - |
Conversion Cost | - | (26,996) | - | - | (26,996) |
Profit for the period | - | - | - | 817,948 | 817,948 |
Other comprehensive income for the period | - | - | - | - | - |
Total comprehensive income | - | - | - | 817,948 | 817,948 |
Balance at 30 September 2022 | 4,600,000 | 7,373,055 | - | (3,055,468) | 8,917,587 |
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eTRANZACT INTERNATIONAL PLC
CASHFLOW STATEMENT FOR THE PERIOD ENDED 30TH SEPTEMBER 2022
30/09/2022 | 12/31/2021 | |||
Note | N'000 | N'000 | ||
Cashflow from operating activities | ||||
Cash receipt from customers | 16,146,028 | 23,323,576 | ||
Cash paid to suppliers and employees | (15,032,563) | (24,549,221) | ||
Cash generated from operations | 1,113,465 | (1,225,645) | ||
Income taxes paid | 11 | (29,440) | (10,709) | |
Net cash generated by operating activities | 1,084,025 | (1,236,354) | ||
Cashflow from investing activities | ||||
Purchase of property, plant and equipment | 1 | (451,515) | (408,601) | |
Additions to intangible assets | 3 | (7,256) | (47,404) | |
Interest received and similar income | 192,822 | 111,348 | ||
Interest on Loan | (16,471) | (34,202) | ||
Proceeds from sale of Investment Property | - | 268,155 | ||
Proceeds from sale of Property, plant and equipment | - | - | ||
Net cash (used in)/generated by investing activities | (282,420) | (110,705) | ||
Cashflow from financing activities | ||||
Net Proceeds from Debenture Issue | 5,772,225 | 3,540,232 | ||
Issue Cost | (59,281) | - | ||
Conversion cost of debenture to ordinary shares | (26,996) | - | ||
Repayment of | Loan Principal | (53,571) | (35,714) | |
Repayment of | Interest on Loan | - | (23,138) | |
Loan obtained | 10 | - | 100,000 | |
Net cash generated by financing activities | 5,632,376 | 3,581,380 | ||
Net increase in cash and cash equivalents | 6,433,981 | 2,234,319 | ||
Effects of exchange rate on year end bank balances | - | 23,910 | ||
Cash and cash equivalents at beginning of year | 5,896,939 | 3,638,710 | ||
Cash and cash equivalents at end of the period | 8 | 12,330,921 | 5,896,939 |
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eTranzact International plc published this content on 01 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 November 2022 10:49:07 UTC.