Group Financials

RED STAR EXPRESS PLC

2022/006

UNAUDITED FINANCIAL REPORT

FOR THE PERIOD ENDED 30TH JUNE, 2022

2022/009

RED STAR EXPRESS PLC

UNAUDITED FINANCIAL HIGHLIGHTS

FOR THE PERIOD ENDED 30TH JUNE, 2022

MAJOR STATEMENT OF COMPREHENSIVE INCOME ITEMS

THE GROUP

Current Period

Comparative Period

Interim Period

Year to Date

Interim Period

Year to Date

Jan'22 - Mar'22

Apr'22 - Jun'22

Jan'21 - Mar'21

Apr'21 - Jun'21

N'000

N'000

N'000

N'000

TURNOVER

430,585

3,240,821

2,854,226

2,810,235

PROFIT/LOSS BEFORE TAX

(409,613)

177,442

193,744

99,579

PROFIT/LOSS AFTER TAX

(278,537)

119,770

186,608

67,713

THE COMPANY

Current Period

Comparative Period

Interim Period

Year to Date

Interim Period

Year to Date

Jan'22 - Mar'22

Apr'22 - Jun'22

Jan'21 - Mar'21

Apr'21 - Jun'21

N' 000

N' 000

N' 000

N' 000

TURNOVER

155,676

1,869,286

1,662,569

1,713,610

PROFIT/LOSS BEFORE TAX

(174,070)

130,305

327,721

66,376

PROFIT/LOSS AFTER TAX

(114,886)

87,953

216,296

45,136

MAJOR STATEMENT OF FINANCIAL POSITION ITEMS

THE GROUP

THE COMPANY

Jun-22

Mar-22

Jun-22

Mar-22

N' 000

N' 000

N' 000

N' 000

TOTAL ASSETS

8,334,371

7,752,187

6,551,135

6,046,560

SHAREHOLDERS FUND

4,313,395

4,193,625

3,554,695

3,466,742

SHARE CAPITAL

477,211

477,211

477,211

477,211

SHARE PREMIUM

1,515,600

1,515,600

1,515,600

1,515,600

REVENUE RESERVE

2,319,423

2,199,653

1,560,722

1,472,769

INFORMATION PER 50 KOBO ORDINARY SHARE

THE GROUP

THE COMPANY

Jun-22

Mar-22

Jun-22

Mar-22

NO OF ORDINARY SHARES

954,423

954,423

954,423

954,423

NET ASSET (N)

4,313,397

4,193,625

3,554,695

3,466,742

EARNINGS PER SHARE (KOBO)

13

9

9

13

NET ASSET PER SHARE(KOBO)

452

439

372

363

RED STAR EXPRESS PLC

UNAUDITED CONSOLIDATED & SEPARATE

STATEMENT OF COMPREHENSIVE INCOME

FOR THE PERIOD ENDED 30TH JUNE, 2022

Note

Turnover

1

Cost of sales

3

Gross profit

Other income

2

Administrative and Other Operating

Expenses

4

Staff Gratuity

5

Depreciation & Amortisation

6

Impairment Loss

Effect of change in estimate useful

life of PPE

Total operating Expences

Finance Income

7

Finance Costs

7

Profit/Loss Before interest and Tax

Interest and similar charges Provision for diminution in investments

Profit/(Loss) Before Income Tax

Income Tax

8.1

Profit/(Loss) from continuing operation

Profit attributable to:

Owners of the company

Non controlling Interests

Profit for the period

Earnings per share

Basic earnings per share (kobo)

29

Diluted earnings per share (kobo)

Number of ordinary shares in

29

issue

The Group

The Company

Comparative

Comparative

Current Period

Period

Current Period

Period

Year to Date

Year to Date

Year to Date

Year to Date

Apr'22 - Jun'22

Apr'21 - Jun'21

Apr'22 - Jun'22

Apr'21 - Jun'21

N'000

N'000

N'000

N'000

3,240,821

2,810,235

1,869,286

1,713,610

(2,468,547)

(2,204,734)

(1,344,047)

(1,317,915)

772,274

605,501

525,239

395,695

35

2,498

35

1,169

772,308

607,999

525,274

396,864

(537,278)

(451,711)

(354,374)

(288,942)

(8,007)

(3,823)

(4,658)

(1,661)

(36,488)

(29,581)

(34,044)

(27,167)

-

-

-

-

-

-

-

-

(581,772)

(485,116)

(393,077)

(317,770)

1

-

1

-

(13,096)

(23,305)

(1,894)

(12,719)

177,442

99,579

130,305

66,376

-

-

-

-

177,442

99,579

130,305

66,376

(57,672)

(31,866)

(42,352)

(21,240)

119,770

67,713

87,953

45,136

119,770

67,713

87,953

45,136

-

-

-

-

119,770

67,713

87,953

45,136

13

7

9

5

954,423

954,423

954,423

954,423

RED STAR EXPRESS PLC

1999001

1999001

UNAUDITED CONSOLIDATED & SEPARATE STATEMENT

2023/003

2023/003

OF FINANCIAL POSITION

AS AT 30TH JUNE, 2022

The Group

The Company

Jun-22

Mar-22

Jun-22

Mar-22

Note

N'000

N'000

N'000

ASSETS

Non Current Assets

Property Plant and |Equipments

9

2,914,122

2,848,652

1,379,683

1,260,572

Intangible Assets

10

41,456

45,349

41,323

45,016

Right Of Use of Assets

11

171,982

185,891

95,136

109,046

Long Term Prepayments

15

278,574

235,186

62,848

3,085

Equity instrument at fair value through OCI

11.1

1,696

1,696

1,696

1,696

Investment in subsidiary

11.2

-

-

1,153,065

1,153,065

Employee Benefit asset

7,288

16,286

4,715

16,286

Total Non Current Assets

3,415,117

3,333,060

2,738,465

2,588,765

Current Assets

Inventories

12

97,229

91,707

Trade debtors

13

2,499,483

2,369,244

Other receivables

14

1,485,742

1,419,259

Current prepayments

15

152,966

78,574

Due from related company

28

Cash and cash equivalents

16

713,709

460,343

Total Current Assets

4,949,130

4,419,128

TOTAL ASSETS

8,364,247

7,752,187

EQUITY AND LIABILITIES

LIABILITIES

Non-current liabilities

Deferred taxation

18

139,419

139,419

Provision for liabilities and charges

Finance Lease Obligation

61,647

68,472

Interest bearing loans and borrowings

247,387

274,774

Total Non Current Liabilities

448,453

482,665

Current liabilities

Trade creditors

1,290,062

1,086,998

Other creditors and accruals

17

1,913,634

1,635,305

Due to related companies

28

-

Finance Lease Obligation

19,353

21,495

Income tax liabilities

8.2

285,198

227,526

Interest bearing loans and borrowings

94,150

104,573

Total Current Liabilities

3,602,397

3,075,897

TOTAL LIABILITIES

4,050,850

3,558,562

80,10582,755

1,292,638 1,391,920

740,346676,482

100,29449,675

1,006,896907,426

592,391349,539

3,812,670 3,457,797

6,551,135 6,046,560

35,020

35,020

50,359

47,544

-

-

85,379

82,564

1,185,077

1,074,752

1,469,730

1,237,712

30,034

-

20,573

21,495

205,648

163,296

2,911,062

2,497,255

2,996,441

2,579,819

Equity

Share capital

19

477,211

477,211

477,211

477,211

Share premium

1,515,600

1,515,600

1,515,600

1,515,600

Retained Earnings

2,319,423

2,199,653

1,560,722

1,472,769

Fair value of equity instrument designated at FVOCI

1,161

1,161

1,161

1,161

Total Equity

4,313,395

4,193,625

3,554,695

3,466,742

TOTAL EQUITY AND LIABILITIES

8,364,247

7,752,187

6,551,135

6,046,561

The consolidated and separate financial statements were approved by the Board on the 21st of July, 2022 and signed on its behalf by:

Babura Auwalu Badamasi

Onyibo Valentine

Managing Director

Chief Financial Officer

FRC/2016/ICAN/00000014402

FRC/2013/ICAN/00000003908

RED STAR EXPRESS PLC

UNAUDITED CONSOLIDATED & SEPARATE STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD ENDED 30TH JUNE, 2022

The Group

The Company

Fair Value of

Fair Value of

Equity

Equity

Instrument

Instrument

Issued

designated at

Issued

Retained

designated at

Capital

Share Premium

Retained Earnings

FVOCI

Total

Capital

Share Premium

Earnings

FVOCI

Total

N'000

N'000

N'000

N'000

N'000

N'000

N'000

N'000

N'000

N'000

As at 1st April 2022

477,211

1,515,600

2,199,653

1,161

4,193,626

As at 1st April 2022

477,211

1,515,600

1,472,769

1,161

3,466,742

Profit for the year

119,770

119,770

Profit for the year

87,953

87,953

Other comprehensive income:

-

Other comprehensive income:

-

Re-measurement gain/(loss) on

Re-measurement gain/(loss) on

defined benefit plan

-

defined benefit plan

-

Dividend

-

-

Dividend

-

-

As at 30th June, 2022

477,211

1,515,600

2,319,423

1,161

4,313,394

As at 30th June, 2022

477,211

1,515,600

1,560,722

1,161

3,554,695

Consolidated Statement of Changes in Equity

Consolidated Statement of Changes in Equity

For the year ended 31 March 2022

Fair Value of

For the year ended 31 March 2022

Fair Value of

Equity

Equity

Instrument

Instrument

Issued

designated at

Issued

Retained

designated at

Capital

Share Premium

Retained Earnings

FVOCI

Total

Capital

Share Premium

Earnings

FVOCI

Total

N'000

N'000

N'000

N'000

N'000

N'000

N'000

N'000

N'000

N'000

As at 1st April 2021

463,176

1,437,001

2,330,978

1,794

4,232,949

As at 1st April 2021

463,176

1,437,001

1,568,728

1,794

3,470,699

Profit for the year

87,806

87,806

Profit for the year

123,173

123,173

Other comprehensive income:

Other comprehensive income:

-

Re-measurement gain/(loss) on

Re-measurement gain/(loss) on

defined benefit plan

(80,180)

(80,180)

defined benefit plan

(80,180)

(80,180)

Bonus Issue

(92,634)

(92,634)

Fair Value of Equity Instrument

Fair Value of Equity Instrument

designated at FVOCI

(633)

(633)

designated at FVOCI

-

(633)

(633)

Dividend

(46,318)

(46,318)

Dividend

(46,318)

(46,318)

As at 31st March, 2022

463,176

1,437,001

2,199,653

1,161

4,193,624

As at 31st March, 2022

463,176

1,437,001

1,472,769

1,161

3,466,741

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Red Star Express plc published this content on 22 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 July 2022 16:03:06 UTC.