CHAMS : QUARTER 2 - FINANCIAL STATEMENT FOR 2022

Unaudited Consolidated and Separate Financial Statements For the Six Month Ended 30 June 2022

Chams Plc

Unaudited Consolidated and Seperate Financial Statements for the Six Month ended 30th June 2022

Contents	Page
Statement of Profit & Loss & Other Comprehensive Income	3
Statement of Financial Position	4-5
Statement of Changes in Equity	6-7
Statement of Cash Flow	8
Notes to the Financial Statement	9-14

2

Chams Plc and Its Subsidiaries

Unaudited Consolidated and Separate Statement of Profit or Loss and other Comprehensive Income for the period ended 30th June , 2022

			GROUP			COMPANY
		Unaudited	Unaudited	Audited	Unaudited	Unaudited	Audited
		2022	2021		2021	2022	2021	2021
	Notes	Jan-June	Jan-June		Jan-June	Jan-June
		N' 000	N' 000	N' 000	N' 000	N' 000	N' 000
Revenue	1	2,107,318	1,629,921		3,324,752	51,359	246,105	283,396
Cost of Sales	2	(1,632,855)	(1,168,750)		(2,579,071)	(41,856)	(151,403)	(219,263)
Gross Profit		474,464	461,171		745,682	9,503	94,701	64,133
Other operating Income	3	106,444	39,188		373,371	95,756	31,571	131,844
Administrative Expenses	4	(518,751)	(507,264)		(1,516,800)	(108,845)	(234,765)	(207,143)
Operating Profit/( Loss)		62,156	(6,904)		(397,747)	(3,586)	(108,493)	(11,166)
Finance expense	5	(73,204)	(80,328)		(171,696)	(46,601)	(45,820)	(101,082)
Finance Income		31,921	4,435		76,416	6,509	4,435	14,316
Profit/(Loss) before Taxation		20,872	(82,797)		(493,027)	(43,678)	(149,878)	(97,932)
Taxation credit/ (expense)		(6)	(6)		133,110			133,150
Profit/(Loss) after Taxation		20,866	(82,803)		(359,916)	(43,678)	(149,878)	35,218
Loss/ profit attributable to :
Owners of the parent		17,391			(299,972)			35,218
Non- Controlling Interest		3,475			(59,944)
		20,866			(359,916)			35,218
Basic (Loss) / earnings per share (kobo)		0.37			(6.39)			0.75
Diluted (Loss)/ earnings per share (Kobo)		0.37		-	6.39			0.75
Other Comprehensive Income/ Loss
Revaluation surplus on property, plant and equipment					3,672,611
Loss on investment securities at fair value through
other comprehensive income					(7,173)
Other Comprehensive Income Income/ Loss		-	-		3,665,438	-	-
Total Comprehensive Income		20,866	(82,803)		3,305,522	(43,678)	(149,878)	35,218
Profit/Loss for the period attributable to :
Owners of the company	14(a)	17,892	(70,972)		2,398,113	(43,678)	(149,878)	35,218
Non controlling interest		2,975	(11,831)		1,267,325
		20,866	(82,803)		3,665,438	(43,678)	(149,878)	35,218
Total comprehensive income attributable to:
Owners of Parent		13,245	(70,972)		2,098,141	(43,678)	(149,878)	35,218
Non controlling interest		7,622	(11,831)		1,207,382	-
		20,866	(82,803)		3,305,523	(43,678)	(149,878)	35,218

3

Chams Plc and Its Subsidiary Companies

Unaudited Consolidated and Separate Statement of Financial Position for the period ended June 30 , 2022

		Chams Group	Chams Group	Chams Group	Chams Plc	Chams Plc	Chams Plc
		Unaudited	Unaudited	Audited	Unaudited	Unaudited	Audited
	NOTES	JUNE 2022	JUNE 2021	2021	JUNE 2022	JUNE 2021	2021
Assets		N'000	N'000	N'000	N'000	N'000	N'000
Non-current assets
Right of Use of Asset				21,900
Property,plant and equipment	6	2,252,145	2,410,284	2,261,538	1,742,595	1,819,176	1,768,373
Investment Project			6,110	460		6,110	460
Deposit for Investment
Available for Sale financial Assets
Intangible Asset	7	5,281,795	865,659	5,235,776	1,132
Investment in Subsidiaries				-	3,548,164	2,525,127	3,548,164
Investment in associates		75,000		74,898	75,000		74,898
Investment in Joint Ventures		17,375	100,000	17,375		100,000
Investment securities at fair value through other
Comprehensive Income		92,827		92,827	92,827		92,827
		7,719,142	3,382,053	7,704,775	5,459,718	4,450,413	5,484,722
CURRENT ASSETS
Inventory & Work In Progress	8	212,736	174,572	233,145	282
Trade and other receivable	9	1,986,724	2,085,675	966,716	623,237	891,201	724,242
Due from related Parties					274,040
Short term investment		14,578
Prepayments	12	138,627			5,446
Cash and Cash Equivalent	15	2,891,429	2,852,424	2,920,711	28,286	179,426	44,363
		5,244,093	5,112,671	4,120,572	931,290	1,070,627	768,605
Total Assets		12,963,235	8,494,724	11,825,346	6,391,008	5,521,040	6,253,327
Liabilities
Non -current liabilities
Lease liabilities		10,680		10,680
Long Term Loan	11	1,199,998		1,196,547	981,046		962,706
Deferred Tax/ Income					-	-	-
		1,210,678	-	1,207,227	981,046	-	962,706
Current liabilities
Trade and other Payable	10	6,751,884	5,283,600	5,683,864	1,091,805	1,136,048	1,331,536
Loan & Borrowing			1,298,770	28,121		976,444
Deposit for Shares	13	60,352	259,933
Defered Income		34,838	1,664	61,789
Due to Related Party					428,173
Taxation		142,362	304,450	109,709	66,335	208,382	76,696
		6,989,435	7,148,415	5,883,484	1,586,314	2,320,873	1,408,232
Total liabilities		8,200,113	7,148,415	7,090,711	2,567,360	2,320,873	2,370,938
NET ASSETS		4,763,122	1,346,309	4,734,636	3,823,649	3,200,167	3,882,389
				4

Chams Plc

Unaudited Consolidated and Separate Financial Statements for the period ended June 30, 2022

Statement of Financial Position (Continued)

As at June 30, 2022

		Chams Group	Chams Group	Chams Group	Chams Plc	Chams Plc	Chams Plc
		Unaudited	Unaudited	Audited	Unaudited	Unaudited	Audited
		JUNE 2022	JUNE 2021	2021	JUNE 2022	JUNE 2021	2021
		N'000	N'000	N'000	N'000	N'000	N'000
Issued capital and reserves attributable to
owners of the parent
Share Capital		2,348,030	2,348,030	2,348,030	2,348,030	2,348,030	2,348,030
Share Premium		35,008	35,008	35,008	35,008	35,008	35,008
Revaluation Reserve		3,887,450	1,482,164	3,887,450	1,463,364	959,065	1,463,364
Capital Reserve		145,522	145,522	145,522			-
Retained Earnings	14(b)	(2,866,681)	(2,659,465)	(2,887,547)	(15,580)	(141,936)	43,160
Fairvalue Reserve		(7,173)		(7,173)	(7,173)		(7,173)
Equity Attributable to Owners of the Parent		3,542,156	1,351,259	3,521,290	3,823,649	3,200,167	3,882,389
Non-Controlling Interest		1,220,966		1,213,344
TOTAL EQUITY		4,763,122	1,351,259	4,734,634	3,823,649	3,200,167	3,882,389

The Financial statements on Pages 2 to 5 were approved for issue by the Board of Directors on June 30, 2022 and signed on its behalf by :

Gavin H. Young	Ifeoma N. Obasanya
Managing Director	Ag. Chief Financial Officer
FRC/2020/003/00000020885

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