UAC of Nigeria PLC
Unaudited Condensed Consolidated Financial Statements for the 3 month Period ended 31 March 2022
UAC of Nigeria PLC | |
Unaudited condensed consolidated financial statements | |
for the 3 month period ended 31 March 2022 | |
Content | Page |
Investor relations statement | 1 |
Unaudited financial statements | |
Condensed consolidated statement of profit or loss and other comprehensive income | 2 |
Condensed consolidated statement of financial position | 3 |
Condensed consolidated statement of changes in equity | 4 |
Condensed consolidated statement of cash flows | 5 |
Notes to the condensed consolidated financial statements | 6 |
Statement on Investor Relations
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:investorrelations@uacnplc.com; or telephone on: +234 906 269 2908 for any investment related enquiry.
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Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income for the 3 month period ended 31 March 2022
3 months ended | 3 months ended | ||
March 2022 | March 2021 | ||
Notes | N'000 | N' 000 | |
Continuing operations | |||
Revenue | 3 | 27,665,698 | 22,021,794 |
Cost of sales | 6 | (22,590,283) | (18,010,234) |
Gross profit | 5,075,415 | 4,011,560 | |
Other operating income | 4 | 459,559 | 82,820 |
Impairment loss on financial assets | 5 | (2,874) | (17,148) |
Selling and distribution expenses | 6 | (1,736,805) | (1,428,165) |
Administrative expenses | 6 | (1,927,836) | (1,497,691) |
Operating profit | 1,867,459 | 1,151,376 | |
Finance income | 7 | 240,663 | 385,115 |
Finance cost | 7 | (1,150,665) | (290,046) |
Net finance (cost)/income | (910,002) | 95,069 | |
Share of profit/(loss) from associates using the equity method | 14 | 21,183 | (218,259) |
Profit before tax | 978,640 | 1,028,187 | |
Income tax expense | 8 | (336,540) | (359,627) |
Profit after tax for the period from continuing operations | 642,100 | 668,560 | |
Discontinued operations | |||
Loss after tax for the period from discontinued operations | 30 | (3,355) | - |
Profit for the period | 638,745 | 668,560 | |
Other comprehensive income: | |||
Items not to be subsequently recycled to profit or loss | |||
Net changes in fair value of financial assets | 13 | (11,500) | 11,875 |
Share of other comprehensive (loss)/income of associates using the equity | |||
method | 14 | (48,593) | 5,717 |
Other comprehensive (loss)/income for the period net of tax | (60,093) | 17,592 | |
Total comprehensive income for the period net of tax | 578,652 | 686,152 | |
Profit attributable to: | |||
Equity holders of the parent | 516,720 | 341,280 | |
Non controlling interests | 122,025 | 327,280 | |
638,745 | 668,560 | ||
Total comprehensive income attributable to: | |||
Equity holders of the parent | 456,627 | 358,872 | |
Non controlling interests | 122,025 | 327,280 | |
578,652 | 686,152 | ||
Earnings per share attributable to owners of the parent during the period | |||
(expressed in Kobo per share): | |||
Basic earnings per share | |||
18 | 12 | ||
From continuing operations (Kobo) | 9 | ||
From discontinued operations (Kobo) | (0) | - | |
9 | |||
From profit for the period (Kobo) | 18 | 12 | |
Diluted earnings per share | |||
From continuing operations (Kobo) | 9 | 18 | 12 |
From discontinued operations (Kobo) | 9 | (0) | - |
From profit for the period (Kobo) | 18 | 12 | |
2 |
UAC of Nigeria PLC
Condensed Consolidated Statement of Financial Position As at 31 March 2022
31 December | |||
31 March 2022 | 2021 | ||
Notes | N' 000 | ||
Assets | |||
Non-current assets | |||
Property, plant and equipment | 10 | 22,389,711 | 22,223,664 |
Intangible assets and goodwill | 11 | 1,659,049 | 1,519,649 |
Investment properties | 12 | 3,397,080 | 3,470,685 |
Equity instrument at fair value through other comprehensive income | 13 | 484,802 | 449,975 |
Investments in associates | 14 | 8,464,036 | 8,491,446 |
Debt instrument at amortised cost | 15 | 2,465,481 | 2,468,868 |
Right of use assets | 17(a) | 707,050 | 717,894 |
Trade and other receivables | 19 | 2,668,174 | 2,676,292 |
Finance lease receivable | 19.1 | 10,372 | 10,372 |
Total non-current assets | 42,245,755 | 42,028,845 | |
Current assets | |||
Refund asset | 16 | 3,076 | 3,328 |
Inventories | 18 | 50,491,017 | 36,213,523 |
Trade and other receivables | 19 | 9,525,074 | 8,722,956 |
Finance lease receivable | 19.1 | 3,300 | 3,300 |
Cash and cash equivalents | 20 | 12,630,753 | 11,409,946 |
Total current assets | 72,653,220 | 56,353,053 | |
Non-current assets held for sale | 30a | 545,993 | 545,993 |
Assets of disposal group classified as held for distribution to owners | 30c | 3,865 | 3,865 |
Total assets | 115,448,833 | 98,931,756 | |
Equity and Liabilities | |||
Ordinary share capital | 28 | 1,440,648 | 1,440,648 |
Share premium | 28 | 14,174,606 | 14,174,606 |
Contingency reserve | 28 | 69,571 | 69,571 |
Fair value reserve | 28 | 155,752 | 215,845 |
Equity settled share based payment reserve | 28 | 159,916 | 98,931 |
Other reserve | 28 | 91,923 | 91,923 |
Retained earnings | 30,406,671 | 29,889,951 | |
Equity attributable to equity holders of the Parent | 46,499,087 | 45,981,475 | |
Non controlling interests | 4,978,856 | 4,856,831 | |
Total equity | 51,477,943 | 50,838,306 | |
Liabilities | |||
Non-current liabilities | |||
Lease liability | 17(b) | 273,923 | 271,009 |
Borrowings | 21 | 2,208,074 | 339,723 |
Deferred tax liabilities | 22 | 4,625,270 | 4,649,022 |
Employee benefits | 27 | 72,296 | 72,296 |
Provisions | 26 | 16,643 | 16,643 |
Total non-current liabilities | 7,196,206 | 5,348,693 | |
Current liabilities | |||
Current income tax liabilities | 8 | 4,086,986 | 3,726,695 |
Refund liabilities | 16 | 3,401 | 3,690 |
Lease liability | 17 | 202,205 | 341,627 |
Current portion of borrowings | 21 | 31,947,173 | 19,571,889 |
Trade and other payables | 23 | 13,618,480 | 11,347,484 |
Contract liabilities | 24 | 1,559,884 | 2,425,294 |
Dividend payable | 25 | 5,193,036 | 5,193,036 |
Provisions | 26 | 121,425 | 92,948 |
Total current liabilities | 56,732,590 | 42,702,663 | |
Liabilities of disposal group classified as held for distribution to owners | 30c | 42,094 | 42,094 |
Total liabilities | 63,970,890 | 48,093,450 | |
Total equity and liabilities | 115,448,833 | 98,931,756 |
N' 000
The financial statements and the notes on pages 6 to 30 were approved and authorised before issue by the board of directors on 29 April 2022 and were signed on its behalf by:
Mr. Dan Agbor | Mr. Folasope Aiyesimoju | Mrs. Funke Ijaiya-Oladipo |
Chairman | Group Managing Director | Group Finance Director |
FRC/2013/NBA/00000001748 | FRC/2019/IODN/00000019806 | FRC/2021/001/00000022822 |
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UAC of Nigeria plc published this content on 29 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 April 2022 21:37:09 UTC.