NCR (NIGERIA) : QUARTER 2 - FINANCIAL STATEMENT FOR 2023

NCR Nigeria Plc

SECOND QUARTER UNAUDITED CONDENSED FINANCIAL STATEMENTS 30 JUNE 2023

NCR (NIGERIA) PLC

PERIOD ENDED 30 JUNE 2023

UNAUDITED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

							Apr-June
		30/06/2023	30/06/2022		Apr-June 2023	2022
	Note	N'000		N'000		N'000	N'000
Revenue from contracts with customers	3	1,892,247	877,512		1,433,397	420,970
Cost of Sales	3.2	(2,581,529)		(702,802)		(2,195,079)	(337,204)
Gross profit		(689,282)	174,710		(761,682)	83,766
Other income	4	6,111	1,513		(64,672)	697
Distribution Expenses	12	(21,211)	(85,097)		(14,210)	(36,694)
Administrative Expense	13	(695,844)	(66,288)		(661,597)	(26,877)
		(1,400,225)	24,838		(1,502,162)	20,891
Profit/ (Loss) before Tax
	(1,400,225)		24,838		(1,502,162)	20,891
Income Tax Expense		-		-		-	-
Profit/ (Loss) after Tax		(1,400,225)	24,838		(1,502,162)	20,891
Other Comprehensive Income
Items that will not be reclassified subsequently to profit or loss:
Actuarial loss on retirement benefit; net of tax		-		-		-	-
Other Comprehensive Loss for the Year, net of Tax		-	-
Total Comprehensive Income for the Year, net of Tax		(1,400,225)	24,838		(1,502,162)	20,891
Earnings per share data:
Basic/ diluted earnings/ (loss) per share (Naira)		(13)		0.2		(14)	0.2

NCR (NIGERIA) PLC

PERIOD ENDED 30 JUNE 2023

UNAUDITED STATEMENT OF FINANCIAL POSITION

			30/06/2023	31/12/2022
ASSETS	Note	USD	N'000	N'000
Non-current assets			37,112
Property, plant and equipment	14		22,262
Retirement benefit assets			49,229	49,229
Deferred Tax Assets			-	-
Total non-current assets
		86,341	71,491
Current assets
Inventories	5		318,194	372,820
Trade and other receivables	6		2,440,850	3,307,591
Prepayments	7		62,763	330,948
Financial Derivatives				-
Cash and Cash equivalents	8		1,408,183	227,233
Current Tax Receivable
Total current assets
		4,229,990	4,238,592
Total assets			4,316,332	4,310,084
Equity and Liabilities
Share capital			54,000	54,000
Retained earnings			(3,213,127)	(1,812,902)
Other reserves			(86,260)	(86,260)
Total equity			(3,245,387)	(1,845,162)
Non-current liabilities
Trade and other payables			2,583,097	2,583,097
Deferred Tax Liability				-
Total non-current liabities
		2,583,097	2,583,097
Current liabilities			4,604,115	3,292,927
Trade and other payables	9
Contract Liability	11		374,506	262,864
Current Tax Liability	10		-	16,358
Total current liabilities
		4,978,621	3,572,149
Total liabilities
		7,561,718	6,155,246
Total Equities and Liabilities			4,316,331	4,310,084

Approved by the Directors on 26th July 2023 and signed on its behalf by:

Otunba Adekunle Ojora OFR, CON, FNIM, JP	Ms Yisa Nnawo Christiana	Mr Chuwueke Onyekachi Caleb
Chairman	Chief Executive Officer	Finance Controller
FRC/2013/IODN/00000002581	FRC/2020/003/00000020685	FRC/2015/ICAN/000000/13361

NCR (NIGERIA) PLC

UNAUDITED CONDENSED STATEMENT OF CHANGES IN EQUITY

AS AT 30 JUNE 2023

Equity attributable to equity holders of the Company

		Share Capital	Retained	Other	Total Equity
			Earnings	Reserves
		N'000	N'000	N'000	N'000
Balance at 1 January 2023	54,000	(1,812,902)	(86,260)	(1,845,162)
Total comprehensive income for the period	-	(1,400,225)		(1,400,225)
Issue	of
Dividends
Transfer	for
Balance at 30 JUNE 2023	-	-		-
54,000	(3,213,127)	(86,260)	(3,245,387)
		Share Capital	Retained	Other	Total Equity
			Earnings	Reserves
		N'000	N'000	N'000	N'000
Balance at 1 January 2022	54,000	(802,377)	(90,477)	(838,854)
					-
Loss for the year		(1,010,525)		(1,010,525)
Other comprehensive loss for the year, net of tax	-		4,217	4,217
Total comprehensive loss for the year, net of tax		(1,010,525)	4,217	(1,006,308)
		-	-		-
Balance at 31 December 2022	54,000	(1,812,902)	(86,260)	(1,845,162)

NCR (NIGERIA) PLC

UNAUDITED STATEMENT OF CASH FLOW

AS AT 30 JUNE 2023

	2023	2022
	N'000	N'000
Cash Flows From Operating Activities
Profit /(Loss) before tax	(1,400,225)	(801,907)
Adjustments:
Depreciation	6,082	18,066
Exchange Loss/(gain)	673,911	980,122
Interest income(gain)	(6,111)	(2,077)
Loss on assets disposal	-	3,696
Allowance and impairment loss	-	(66,505)
Operating Profit Before working capital changes	(726,343)	131,395
Working Capital Changes:
Changes in prepayment	268,185	(319,449)
Changes in inventory	54,626	50,263
Changes in trade and other receivables	866,741	(1,380,804)
Changes in trade and other payables	1,311,188	237,956
changes in contract liabilities	111,642	18,673
Changes in provision		(13,477)
	1,886,039	(1,275,443)
Tax paid	(16,358)	(216,920)
Net Cash Flows from Operating Activities
1,869,682	(1,492,363)
Cash Flows from Investing Activities
Acquisition of PPE	(20,932)	(3,176)
Interest income	6,111	2,077
Rental income	-	-
Net Cash flows from Investing activities	(14,821)	(1,099)
Cash Flows from Financing activities:
Interest expenses		-
Net Cash flows from Financing activities	-	-
Net Cash flows for the period
1,854,861	(1,493,462)
Cash and Cash equivalents as at 1 January 2023	227,233	2,700,818
Effects of exchange differences	(673,911)	(980,122)
Cash and Cash equivalents as at end of period
1,408,183	227,233