SCOA Nigeria : S C O A NIGERIA PLC- QUARTER 4 - FINANCIAL STATEMENT FOR 2022

SCOA NIGERIA PLC

[RC: 6293]

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31ST DECEMBER, 2022

SCOA NIGERIA PLC

UN-AUDITED STATEMENT OF COMPREHENSIVE INCOME FOR THE PERIOD Oct to 31st Dec , 2022

	Unaudited	Unaudited
		Current Period
	Current Period Ended	Ended	% changes
	Oct to Dec,2022	Oct to Dec,2021
	N'000	N'000
Revenue	961,471.63	7,992,867.78	(7.31)
Cost of Sales	(846,188.09)	(8,358,115.01)	(8.88)
Gross profit	115,283.54	(365,247.23)	4.17
Distribution/Admin and Other Expenses	(77,172.57)	(2,139,835.12)	(26.73)
Other Income	609,902.68	2,991,287.02	(3.90)
Financial Charges	(211,021.52)	(323,557.56)	(0.53)
Profit/Loss Before Tax	436,992.13	162,647.11	0.63
Finance income		18,793.49
Taxation	(15,086.37)	(676,902.77)	(43.87)
Profit/Loss After Tax	421,905.76	(495,462.17)	2.17
Other Comprehensive Income	-	(31,895.29)
Total Comprehensive Income	421,905.76	(527,357.46)	2.25
Profit/Loss After Tax Attr. To Noncontr	293,632.75	(210,942.98)	1.72
Profit/Loss After Tax Owners of the Com	388,913.48	(316,414.48)	1.81
Total Comp. Inc.Attr. to Non-Controlling	Interest
Attributable to Owners of the Company
Basis/Diluted (loss) /Earnings per Share	0.60	(0.49)

SCOA NIGERIA PLC

UN-AUDITED STATEMENT OF COMPREHENSIVE INCOME FOR THE PERIOD 31st December, 2022

Unaudited

Audited

		Current Period
		Ended	Year Ended	% changes
		31st Dec,2022	31st Dec,2021
		N'000	N'000
	Revenue	3,979,096.50	15,191,211.83	(0.74)
	Cost of Sales	(3,281,042.54)	(14,587,553.74)	(0.78)
	Gross profit	689,053.96	603,658.09	0.14
	Distribution/Admin Expenses	(974,530.23)	(1,474,528.68)	(0.34)
	Other Income	601,161.11	1,738,129.01	(0.65)
	Financial Charges	(671,774.38)	(323,557.56)	1.08
	Finance income		18,793.49	(1.00)
	Profit/Loss Before Tax	(347,089.53)	562,494.35	(1.62)
	Taxation	(15,086.37)	(381,713.91)	(0.96)
	Profit/Loss After Tax	(362,175.91)	180,780.44	(3.00)
	Other Comprehensive Income		(31,895.29)	(1.00)
	Total Comprehensive Income	(362,175.91)	148,885.15	(3.43)
	Profit/Loss After Tax Attr. To Noncontrol	(51,535.64)	58,070.58	(1.89)
	Profit/Loss After Tax Owners of the Com	(310,640.27)	90,814.57	(4.42)
	Total Comp. Inc.Attr. to Non-Controlling Interest
	Attributable to Owners of the Company
	Basis/Diluted (loss) /Earnings per Share	0.48	0.14	2.43

SCOA NIGERIA PLC

UN-AUDITED STATEMENT OF FINANCIAL POSITION AS AT 31ST DECEMBER, 2022

	Un-Audited	Audited
	Current Period Ended	Year Ended	% changes
	31st Dec,2022	31st Dec '21
	N'000	N'000
Property, plant and equipment	3,783,087.11	3,947,631.00	0.04
Deferred Tax Assets	432,116.46	373,766.00	(0.16)
Investment in subsidiary / associates Cos.	-
Total Non Current Assets	4,215,203.57	4,321,397.00	0.02
Inventories	2,351,764.85	2,420,600.05	0.03
Debtors and Other Receivables	2,369,169.75	3,894,237.00	0.39
Other current assets	(186,869.55)	360,439.00	1.52
Cash and cash equivalents	8,005,033.79	12,451,423.00	0.36
Total Current Assets	12,539,098.85	19,126,699.05	0.34
Advance from customer	843,259.00	843,259.00	-
Trade and Other Payables	9,441,054.38	15,890,383.00	0.41
Current Financial liabilities	2,597,901.97	2,113,271.00	(0.23)
Current Tax Liabilities	169,702.23	255,885.00	0.34
Total Current Liabilities	13,051,917.69	19,102,798.00	0.32
Non-Current Financial liabilities	989,571.16	1,319,012.00	0.25
Defined benefit Plan	73,601.05	160,874.00	0.54
Deferred Tax Liabilities		-
Liabilities included in disposal
groups classified as held for
sale (Where applicable)
Total Non-Current Liabilities	1,063,172.22	1,479,886.00	0.28
Working Capital	(512,818.83)	23,901.05	22.46
Net Assets	2,639,212.52	2,865,412.05	0.08
Non Controlling Interest	(545,117.36)	596,653.00	1.91
Attributable to Owners of the Co	3,184,329.88	2,268,759.00	(0.40)

These consolidated financial statements were approved by the Board of Directors on 27th Jannuary, 2023 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 Dec '22- (UN-AUDITED)

	Issued & paid up Share Capital	Share Premium	Retained Earnings	Revaluation Reserve	Total	on controlling intere	Total Equity
	₦000	₦000	₦000	₦000	₦000	₦000	₦000	% Change
Balance as of 1st January 2022	324,913.00	194,405.00	(3,692,885.00)	5,434,841.00	2,261,274.00	596,653.00	2,857,927.00	0.01
Prior year dividend approved
transfer to payables					-
Dividend					-		-
Profit/(loss) for the period / year			310,640.27		310,640.27	(51,535.64)	259,104.63	0.72
Other comprehensive
income/(loss)					-
Balance as of 31st Dec' 2022	324,913.00	194,405.00	(3,382,244.73)	5,434,841.00	2,571,914.27	545,117.36	3,117,031.63	0.08

Audited
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
Dividend
Loss for the year			66,421.00		66,421.00	5,977.00	72,398.00
Adjustment to revaluated
properties					-		-
Other comprehensive income	-	-	(31,770.00)		(31,770.00)		(31,770.00)
Balance as of 31st Dec, 2021	324,913.00	194,405.00	(3,692,885.00)	5,434,841.00	2,261,274.00	596,653.00	2,857,927.00