SCOA Nigeria : S C O A NIGERIA PLC- QUARTER 4 - FINANCIAL STATEMENT FOR 2021

SCOA NIGERIA PLC

[RC: 6293]

UNAUDITED FINANCIAL STATEMENT

FOR THE 4TH QTR. 2021 ANDJANUARY TO DECEMBER, 2021

SCOA NIGERIA PLC

STATEMENT OF COMPREHENSIVE INCOME FOR THE PERIOD January to 31st Dec, 2021 (UN AUDITED)

	Unaudited	Audited
	Current Period	Current Period
	Ended	Ended	% changes
	Jan to Dec,2021	Jan to Dec,2020
	N'000	N'000
Revenue	15,191,211.83	6,526,055.00	0.57
Cost of Sales	(14,587,553.74)	(6,091,306.08)	0.58
Gross profit	603,658.09	434,748.92	0.28
Other Income	1,738,129.01	1,090,340.54	0.37
Distribution cost	(88,256.63)	(90,870.33)	(0.03)
Admin and Other Expenses	(1,386,272.05)	(1,385,543.58)	0.00
Operating profit	867,258.43	48,675.55	0.94
Finance income	18,793.49	3,506.15	0.81
Financial Charges	(323,557.56)	(204,279.83)	0.37
Profit/Loss Before Tax	562,494.35	(152,098.13)	1.27
Taxation	(381,713.91)	183,873.71	1.48
Profit/Loss After Tax	180,780.44	31,775.58	0.82
Other Comprehensive Income	(31,895.29)	8,067.00	1.25
Total Comprehensive Income	148,885.15	39,842.58	0.73
Profit/Loss After Tax Attr. To Noncontrolling Int	58,070.58	8,130.50	0.86	#REF!
Profit/Loss After Tax Owners of the Company	90,814.57	31,711.88	0.65
Total Comp. Inc.Attr. to Non-Controlling Interest
Attributable to Owners of the Company
Basis/Diluted (loss) /Earnings per Share	0.28	0.05

SCOA NIGERIA PLC

STATEMENT OF COMPREHENSIVE INCOME FOR THE PERIOD January to 31st Dec, 2021 (UN AUDITED)

	Unaudited	Unaudited
		Current Period
	Current Period Ended	Ended
	Oct to Dec,2021	Oct to Dec,2020
	N'000	N'000
Revenue	7,992,867.78	777,335.70
Cost of Sales	(8,358,115.01)	(592,056.62)
Gross profit	(365,247.23)	185,279.08
Other income	2,991,287.02	(79,452.03)
Distribution cost	(953,335.24)	(21,000.00)
Admin and Other Expenses	(1,186,499.88)	(388,892.39)
Operating profit	486,204.67	(304,065.33)
Finance income	18,793.49	1,006.00
Financial Charges	(323,557.56)	(32,844.93)
Profit/Loss Before Tax	181,440.60	(335,904.26)
Taxation	(676,902.77)	183,873.71
Profit/Loss After Tax	(495,462.17)	(152,030.55)
Other Comprehensive Income	(31,895.29)	8,067.00
Total Comprehensive Income	(527,357.46)	(143,963.55)
Profit/Loss After Tax Attr. To Noncontrolling Int	(210,942.98)	46,105.87
Profit/Loss After Tax Owners of the Company	(316,414.48)	(190,069.42)
Total Comp. Inc.Attr. to Non-Controlling Interest
Attributable to Owners of the Company
Basis/Diluted (loss) /Earnings per Share		(0.29)

SCOA NIGERIA PLC

UN-AUDITED STATEMENT OF FINANCIAL POSITION AS AT 31ST December , 2021

	Un-Audited	Audited
	Current Period Ended	Year Ended	% changes
	31st Dec '21	31st Dec '20
	N'000	N'000
Property, plant and equipment	3,950,063.80	4,124,019.34	0.04
Deferred Tax Assets	509,725.57	1,072,168.42	0.52
Investment in subsidiary / associates Cos.		-
Total Non Current Assets	4,459,789.37	5,196,187.76	0.14
Inventories	2,420,600.05	2,247,811.99	(0.08)
Debtors and Other Receivables	2,037,268.94	5,981,076.05	0.66
Other current assets	294,193.52	321,424.98	0.08
Cash and cash equivalents	12,172,322.55	488,202.00	(23.93)
Total Current Assets	16,924,385.05	9,038,515.02	(0.87)
Advance from customer	843,259.14	843,259.00	(0.00)
Trade and Other Payables	13,944,282.27	7,015,376.30	(0.99)
Current Financial liabilities	2,113,154.19	1,601,643.12	(0.32)
Current Tax Liabilities	315,915.45	15,623.04	(19.22)
Total Current Liabilities	17,216,611.05	9,475,901.46	(0.82)
Non-Current Financial liabilities	1,040,381.73	1,412,086.89	0.26
Defined benefit Plan	160,999.10	111,564.98	(0.44)
Deferred Tax Liabilities		-
Liabilities included in disposal groups
classified as held for sale (Where applicable)
Total Non-Current Liabilities	1,201,380.83	1,523,651.87	0.21
Working Capital	(292,226.00)	(437,386.44)	0.33
Net Assets	2,966,182.53	3,235,149.45	0.08
Non Controlling Interest	648,746.58	590,676.00	(0.10)
Attributable to Owners of the Company	2,317,437.57	2,226,623.00	(0.04)

These consolidated financial statements were approved by the Board of Directors on 31st Jannuary,2022 and signed on its behalf by:

Mr. Henry Agbamu	Dr.Massad F.Boulos	Mrs. A. Okereke
FRC/2013/NIM/00000003968	FRC/2013IOD/00000003008	FRC/2013/ICAN/00000002373

STATEMENT OF CHANGES IN EQUITY AS AT 31st December'21- (UN-AUDITED)

Issued & paid up Share Cap	Share Premium	Retained Earnings	Revaluation Reserve	Total	Non controlling interest	Total Equity
	₦000	₦000	₦000	₦000	₦000	₦000	₦000	% Change
Balance as of 1st January 2021	324,913.00	194,405.00	(3,727,536.00)	5,434,841.00	2,226,623.00	590,676.00	2,817,299.00	0.30
Prior year dividend approved transfer
to payables					-
Dividend					-		-
Profit/(loss) for the period / year			122,709.86		122,709.86	58,070.58	180,780.44	3.11
Other comprehensive income/(loss)			(31,895.29)		(31,895.29)	-	(31,895.29)	1.25
Balance as of 31st December' 2021	324,913.00	194,405.00	(3,636,721.43)	5,434,841.00	2,317,437.57	648,746.58	2,966,184.15	0.05
Audited
Balance as of 1st January 2020	324,913.00	194,405.00	(3,346,478.00)	4,224,807.00	1,397,647.00	583,058.00	1,980,705.00
Dividend
Loss for the year			(389,125.00)		(389,125.00)	7,618.00	(381,507.00)
Adjustment to revaluated properties				1,210,034.00	1,210,034.00		1,210,034.00
Other comprehensive income	-	-	8,067.00		8,067.00		8,067.00
Balance as of 31st Dec, 2020	324,913.00	194,405.00	(3,727,536.00)	5,434,841.00	2,226,623.00	590,676.00	2,817,299.00