UAC OF NIGERIA : AUDITED FINANCIAL STATEMENT FOR 2021

UAC of Nigeria PLC

Consolidated and Separate Financial Statements for the year ended 31 December 2021

UAC of Nigeria PLC
Consolidated and separate financial statements
for the year ended 31 December 2021
Content	Page
Corporate information	1
Investor relations statement	2
Financial Highlights to the Audited Consolidated and Separate Financial Statements	3
Directors' report	4
Certification pursuant to section 405(1) of Companies and Allied Matters Act, 2020	10
Statement of directors' responsibilities	11
Audit committee report	12
Independent auditors' report	13
Audited financial statements
Consolidated and separate statements of profit or loss and other comprehensive income	19
Consolidated and separate statements of financial position	20
Consolidated and separate statements of changes in equity	21
Consolidated and separate statements of cash flows	23
Notes to the consolidated and separate financial statements	24
Other national disclosures
Shareholding Structure/Free Float Status	90
Statement of value added	91
Five year financial summary - Group	92
Five year financial summary - Company	93

UAC of Nigeria PLC

Consolidated and separate financial statements for the year ended 31 December 2021

Corporate Information

Board of Directors Mr. Daniel Owor Agbor

Mr. Folasope Babasola Aiyesimoju Dr. Vitus Chidiebere Ezinwa

Mrs. Babafunke Adesua Ijaiya-Oladipo Dr. Umaru Alka

Mr. Babatunde Oladele Kasali Mr. Bolaji Adekunle Odunsi Mrs. Suzanne Olufunke Iroche Mr. Karl Olutokun Toriola

Company Secretary/Group General Counsel Ayomipo Wey

Email: [e-mail]

Registered Office UAC House,

1-5 Odunlami Street, Marina, Lagos

Company Websitewww.uacnplc.com

Bankers

First Bank of Nigeria Limited Access Bank PLC

FSDH Merchant Bank Limited Guaranty Trust Bank

Union Bank of Nigeria PLC United Bank for Africa PLC Zenith Bank PLC

Stanbic IBTC Bank Limited Coronation Merchant Bank Limited

Independent Auditor

KPMG Professional Services, KPMG Tower,

Bishop Aboyade Cole Street, Victoria Island, Lagos

Tel: [phone] (or 8599)

The Registrar

Africa Prudential PLC 220B Ikorodu Road, Palmgrove,

Lagos

Phone: 0700 AFRIPUD or 0700 237 47783

Email: [e-mail]

Tax Identification Number (TIN) 01767079-0001

Non-Executive Chairman Group Managing Director Chief Operating Officer Group Finance Director Non-Executive Director Non-Executive Director Non-Executive Director Independent Non-Executive Director Independent Non-Executive Director

(Appointed w.e.f. 28 July 2021)

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UAC of Nigeria PLC

Investor Relations Statement

UAC of Nigeria PLC has a dedicated investors' portal on its corporate website which can be accessed via this link:https://www.uacnplc.com. The Company's Group Finance Director can also be reached through electronic mail at:[e-mail]; or telephone on: [phone] for any investment related enquiry.

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UAC of Nigeria PLC

Consolidated and separate financial statements for the year ended 31 December 2021

Financial Highlights to the Audited Consolidated and Separate Financial Statements

Group

Company

2021	2020	%	2021	2020	%
Restated	Restated
N'000	N'000	change	N'000	N'000	change
Revenue	101,376,839	81,357,960	25	877,457	758,447	16
Operating profit/(loss)	4,921,860	3,274,383	50	1,388,986	(3,805,247)	n/m
Net finance income	81,949	837,282	(90)	1,098,260	1,743,570	(37)
Profit/(loss) before tax	4,108,373	5,084,981	(19)	2,487,246	(2,061,677)	n/m
Income tax expense	(1,519,214)	(1,696,583)	10	(142,622)	(447,911)	68
Profit/(loss) after tax for the year from continued operations	2,589,159	3,388,398	(24)	2,344,624	(2,509,588)	n/m
Profit/(loss) after tax for the year from discontinued operations	(2,105)	469,662	n/m	-	-	-
Profit/(loss) for the year	2,587,054	3,858,060	(33)	2,344,624	(2,509,588)	n/m
Other comprehensive income/(loss) for the year net of tax	(24,026)	212,102	n/m	36,000	140,642	(74)
Total comprehensive income/(loss) for the year net of tax	2,563,028	4,070,162	(37)	2,380,624	(2,368,946)	n/m
Total equity	50,838,306	60,675,504	(16)	31,805,046	36,679,989	(13)
Total equity and liabilities	98,463,387	91,698,190	7	41,068,205	46,211,032	(11)
Cash and cash equivalents	11,409,946	24,272,314	(53)	4,303,878	14,803,765	(71)
Earnings/(loss) per share (kobo) - Basic	63	90	n/m	81	(87)	n/m
Dividend per share (kobo) - Proposed/actual	65	120	(46)	65	120	(46)
NGX quotation as at December 31 (kobo)	950	725	31	950	725	31
Number of shares in issue ('000)	2,881,296	2,881,296	-	2,881,296	2,881,296	-
Market capitalisation as at December 31 (N'000)	27,372,312	20,889,396	31	27,372,312	20,889,396	31
n/m - Not meaningful

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