Transnational Corporation Plc
Unaudited Condensed Consolidated Financial Statements
For the Period Ended 30 September 2022
Transnational Corporation Plc
Statement of Profit or Loss and Other Comprehensive Income For the Period Ended 30 September 2022
Group | Company | |||||
30 September | 30 September | 30 September | 30 September | |||
2022 | 2021 | 2022 | 2021 | |||
N'000 | N'000 | N'000 | N'000 | |||
Note | ||||||
Revenue | 19 | 96,245,378 | 85,587,511 | 7,635,252 | 5,459,669 | |
Cost of sales | 20 | (49,545,980) | (46,222,004) | - | - | |
Gross profit | 46,699,398 | 39,365,507 | 7,635,252 | 5,459,669 | ||
Administrative expenses | 23 | (15,982,844) | (12,211,681) | (1,861,647) | (1,120,461) | |
Impairment (loss) on financial assets | (285,271) | (556,542) | - | - | ||
Other income | 21 | 1,233,367 | 953,990 | 2,323,805 | 898,490 | |
Other gains /(losses) - net | (674) | |||||
22 | (141,076) | (26,206) | - | |||
Operating profit | 31,523,574 | 27,525,068 | 8,097,410 | 5,237,024 | ||
Finance cost - Net | 24 | (9,609,991) | (11,293,312) | (2,662,215) | (2,974,301) | |
Foreign exchange (loss) on financing | 25 | |||||
activities | (1,046,952) | (2,105,145) | - | - | ||
Profit before taxation | 20,866,631 | 14,126,611 | 5,435,195 | 2,262,723 | ||
Taxation | 16 | (1,826,774) | (659,118) | (881,615) | (551,627) | |
Profit for the period | 19,039,857 | 13,467,493 | 4,553,580 | 1,711,096 | ||
Profit attributable to: | ||||||
Owners of the parent | 8,913,650 | 7,143,305 | 4,553,580 | 1,711,096 | ||
Non controlling interest | 10,126,207 | 6,324,188 | - | - | ||
Other comprehensive | ||||||
income/(loss) | ||||||
Items that will not be reclassified to profit or loss: | ||||||
Net (loss)/gain on equity instruments | ||||||
designated at fair value through OCI | 22 | (218,565) | (505,143) | (218,565) | (505,143) | |
Total comprehensive income for | 12,962,350 | |||||
the period | 18,821,292 | 4,335,015 | 1,205,953 | |||
Attributable to: | ||||||
Owners of the parent | 8,695,085 | 6,638,162 | 4,335,015 | 1,205,953 | ||
Non controlling interest | 10,126,207 | 6,324,188 | - | - | ||
Basic EPS (kobo) | 26 | 21.93 | 17.57 | 11.20 | 4.21 | |
Diluted EPS (kobo) | 26 | 21.93 | 17.57 | 11.20 | 4.21 |
The results shown above relate to continuing operations. There are no incomes or expenses from discontinued operations. At 30 June
The notes on pages 7 to 19 are an integral part of these financial statements.
1
Transnational Corporation Plc
Statement of Profit or Loss and Other Comprehensive Income
For the Period Ended 30 September 2022
Group | Company | ||||
July - | July - | July - September | July - | ||
September | September | 2022 | September | ||
2022 | 2021 | 2021 | |||
N'000 | N'000 | N'000 | N'000 | ||
Note | |||||
Revenue | 19 | 33,356,353 | 32,327,276 | 3,118,541 | 2,414,055 |
Cost of sales | 20 | (17,762,173) | (16,467,793) | - | - |
Gross profit | 15,594,180 | 15,859,483 | 3,118,541 | 2,414,055 | |
Administrative expenses | 23 | (5,091,285) | (4,712,912) | (1,097,345) | (375,132) |
Impairment (loss) on financial assets | 49,729 | (283,787) | - | - | |
Other income | 21 | 510,102 | 333,670 | 1,034,433 | 320,196 |
Other gains /(losses) - net | 22 | (17,768) | (6,382) | - | - |
Operating profit | 11,044,958 | 11,190,072 | 3,055,629 | 2,359,119 | |
Finance cost - Net | 24 | (3,537,429) | (3,320,044) | (917,701) | (854,380) |
Foreign exchange (loss) on financing activities | 25 | (3,013) | (794,835) | - | |
Profit before taxation | 7,504,516 | 7,075,193 | 2,137,928 | 1,504,739 | |
Taxation | 16 | (476,393) | (110,673) | (332,474) | (243,238) |
Profit for the period | 7,028,123 | 6,964,520 | 1,805,454 | 1,261,501 | |
Profit attributable to: | |||||
Owners of the parent | 3,061,222 | 3,927,696 | 1,805,454 | 1,261,501 | |
Non controlling interest | 3,966,901 | 3,036,824 | - | - |
Other comprehensive income/(loss)
Items that will not be reclassified to profit or loss:
Net (loss)/gain on equity instruments | |||||
designated at fair value through OCI | 22 | (217,719) | 145,736 | (217,719) | 145,736 |
Total comprehensive income for the | 7,110,256 | 1,407,237 | |||
period | 6,810,404 | 1,587,735 | |||
Attributable to: | |||||
Owners of the parent | 2,843,503 | 4,073,432 | 1,587,735 | 1,407,237 | |
Non controlling interest | 3,966,901 | 3,036,824 | - | - | |
Basic EPS (kobo) | 26 | 7.53 | 9.66 | 4.44 | 3.10 |
Diluted EPS (kobo) | 26 | 7.53 | 9.66 | 4.44 | 3.10 |
The results shown above relate to continuing operations. There are no incomes or expenses from discontinued operations. At 30 June
The notes on pages 7 to 19 are an integral part of these financial statements.
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Transnational Corporation Plc
Statement of Financial Position
As at 30 September 2022
Group | Company | |||||||
30 September | 31 December | 30 September | 31 December | |||||
2022 | 2021 | 2022 | 2021 | |||||
Note | N'000 | N'000 | N'000 | N'000 | ||||
Assets | ||||||||
Non-current assets | ||||||||
Property, plant and equipment | 5 | 275,350,461 | 277,816,617 | 67,702 | 51,151 | |||
Right of use aasets | 5 | 364,388 | 288,524 | 245,955 | 288,524 | |||
Intangible assets | 6 | 41,027,335 | 41,199,858 | 5,075,818 | 5,075,818 | |||
Investment property | 7 | 2,194,000 | 2,194,000 | 2,194,000 | 2,194,000 | |||
Investment in subsidiaries | 8 | - | - | 42,395,763 | 42,395,763 | |||
Debt and equity securities | 13 | 5,316,327 | 5,411,024 | 3,669,397 | 3,887,961 | |||
Deferred tax | 9 | 792,202 | 792,202 | - | - | |||
Prepayments and other assets | 12 | 100,066 | 38,403 | 100,066 | 38,403 | |||
325,144,779 | 327,740,628 | 53,748,701 | 53,931,620 | |||||
Current assets | ||||||||
Inventories | 10 | 5,961,610 | 4,463,680 | - | - | |||
Trade and other receivables | 11 | 78,528,325 | 67,981,453 | 36,714,008 | 35,246,097 | |||
Prepayments and other assets | 12 | 1,624,013 | 1,582,608 | 122,303 | 33,921 | |||
Cash and cash equivalents | 14 | 9,916,970 | 14,231,648 | 754,609 | 493,255 | |||
96,030,918 | 88,259,389 | 37,590,920 | 35,773,273 | |||||
Total assets | 421,175,697 | 416,000,017 | 91,339,621 | 89,704,893 | ||||
Liabilities | ||||||||
Current liabilities | ||||||||
Trade and other payables | 15 | 129,301,236 | 135,077,249 | 7,813,111 | 9,913,480 | |||
Tax Payable | 16 | 2,369,685 | 3,645,712 | 291,274 | 288,087 | |||
Contract Liabilities | 152,820 | 152,820 | - | - | ||||
Lease Liability | - | 297,123 | - | 297,123 | ||||
Deferred income | 450,659 | 450,659 | - | - | ||||
Borrowings (short term) | 17 | 30,919,759 | 55,387,033 | 23,675,358 | 23,842,510 | |||
163,194,159 | 195,010,596 | 31,779,743 | 34,341,200 | |||||
Non-current liabilities | ||||||||
Borrowings (long term) | 17 | 72,574,933 | 50,698,711 | 14,333,407 | 13,659,279 | |||
Deposit for shares | 18 | 12,935,000 | 12,935,000 | - | - | |||
Contract Liabilities | 2,275,477 | 2,333,370 | - | - | ||||
Deferred income | 1,668,809 | 2,005,878 | - | - | ||||
Deferred tax | 9 | 6,724,180 | 6,724,181 | - | - | |||
96,178,399 | 74,697,140 | 14,333,407 | 13,659,279 | |||||
Total liabilities | 259,372,558 | 269,707,736 | 46,113,150 | 48,000,479 | ||||
Equity | ||||||||
Ordinary share capital | 27 | 20,323,996 | 20,323,996 | 20,323,996 | 20,323,996 | |||
Share premium | 27 | 6,249,871 | 6,249,871 | 6,249,871 | 6,249,871 | |||
Other reserves | 26,233,421 | 26,451,987 | 1,587,505 | 1,806,069 | ||||
Retained earnings | 53,205,355 | 47,602,138 | 17,065,099 | 13,324,478 | ||||
Equity attributable to owners of the parent | 106,012,643 | 100,627,992 | 45,226,471 | 41,704,414 | ||||
Non controlling interest | 55,790,496 | 45,664,289 | - | - | ||||
Total equity | 161,803,139 | 146,292,281 | 45,226,471 | 41,704,414 | ||||
Net equity and liabilities | 421,175,697 | 416,000,017 | 91,339,621 | 89,704,893 | ||||
The notes on pages 7 to 19 are an integral part of these financial statements. | ||||||||
The Unaudited financial statements on pages 1 to 19 were approved and | authorised for issue by the Board of Directors on 26th | |||||||
October 2022 and were signed on its behalf by | ||||||||
- | ||||||||
Joseph Adegunwa | Owen Omogiafo | Emmanuel Nnorom | ||||||
Group Chief Finance Officer | President/Chief Executive Officer | Director | ||||||
FRC/2019/ICAN/00000019103 | FRC/2019/IODN/00000019827 | FRC/2014/ICAN/00000007402 |
3
Transnational Corporation Plc
Statement of Changes in Equity
For the Period Ended 30 September 2022
Group | Attributable to owners of the parent | ||||||
Total | Non | Total | |||||
Share | Share | Other | Retained | Attributable to | Controlling | ||
equity | |||||||
capital | premium | reserves | earnings ners of the parents | interest | |||
N'000 | N'000 | N'000 | N'000 | N'000 | N'000 | N'000 | |
As at 1 January 2021 | 20,323,996 | 6,249,871 | 1,982,031 | 28,620,256 | 57,176,154 | 38,249,016 | 95,425,170 |
Profit for the year | - | - | - | 13,964,329 | 13,964,329 | 9,867,123 | 23,831,452 |
Adjustment for disposal of shares | - | - | - | 2,494,214 | 2,494,214 | ||
Dividend | - | - | - | (406,480) | (406,480) | (4,946,064) | (5,352,544) |
Other comprehensive income/(loss) | - | - | (287,642) | - | (287,642) | - | (287,642) |
Other reserve from Trans Afam Power Ltd | 24,757,597 | 24,757,597 | 24,757,597 | ||||
Retained earnings from Trans Afam Power Ltd | 5,424,033.00 | 5,424,033 | 5,424,033 | ||||
- | |||||||
Balance at 31 December 2021 | 20,323,996 | 6,249,871 | 26,451,986 | 47,602,138 | 100,627,991 | 45,664,289 | 146,292,280 |
As at 1 January 2021 | 20,323,996 | 6,249,871 | 1,982,031 | 28,620,256 | 57,176,154 | 38,249,016 | 95,425,170 |
Profit /(Loss) for the period | - | - | - | 3,215,609 | 3,215,609 | 3,287,364 | 6,502,973 |
Dividend paid | - | - | - | (406,480) | (406,480) | - | (406,480) |
Right Issue | - | - | - | - | - | - | - |
Other comprehensive income | - | - | (650,879) | - | (650,879) | - | (650,879) |
Balance at 30 September 2021 | 20,323,996 | 6,249,871 | 1,331,152 | 31,429,385 | 59,334,404 | 41,536,380 | 100,870,784 |
As at 1 January 2022 | 20,323,996 | 6,249,871 | 26,451,986 | 47,602,138 | 100,627,991 | 45,664,289 | 146,292,280 |
Profit for the period | - | - | - | 8,913,650 | 8,913,650 | 10,126,207 | 19,039,857 |
Dividend paid | - | - | - | (3,310,430) | (3,310,430) | - | (3,310,430) |
Other comprehensive income | - | - | (218,565) | - | (218,565) | - | (218,565) |
Balance at 30 September 2022 | 20,323,996 | 6,249,871 | 26,233,421 | 53,205,358 | 106,012,646 | 55,790,496 | 161,803,142 |
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Transnational Corporation of Nigeria plc published this content on 26 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 October 2022 18:57:07 UTC.