ABC TRANSPORT PLC
RC No 219970
e-mail-info@abctransport.com
Directors:PrinceOlumideObayomi(Chairman); Frank Nneji, Kabiru Yusuf;MrBamideleAsije; MrsIfeomaAdeoye,Mr Rex Okoro; Jude Nneji(MD/CEO)
CONSOLIDATED AND SEPARATE NOTE 7-10 16-20 DISCLOSURES 1-16 14-15 SEGMENT REPORT 13 CONSOLIDATED AND SEPARATE NOTE 18-21 12 CONSOLIDATED AND SEPARATE NOTE 17 11 CONSOLIDATED AND SEPARATE NOTE 14-16 10 CONSOLIDATED AND SEPARATE NOTE 11-13 9 8 CONSOLIDATED AND SEPARATE NOTE 2-6 6 -7 CONSOLIDATED AND SEPARATENOTE 1 5 CONSOLIDATED AND SEPARATE STATEMENT OF CHANGES IN EQUITY 4 CONSOLIDATED AND SEPARATE STATEMENT OF CASHFLOW 3 CONSOLIDATED AND SEPARATE STATEMENT OF FINANCIAL POSITION 1-2 TABLE OF CONTENTS CONSOLIDATED AND SEPARATE STATEMENT OF COMPREHENSIVE INCOME
ABC TRANSPORT PLC | |||||
CONSOLIDATED AND SEPARATE STATEMENT OF PROFIT OR LOSS | |||||
AND OTHER COMPREHENSIVE INCOME | |||||
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025 | |||||
Group | Company | ||||
2025 | 2024 | 2025 | 2024 | ||
Continuing operations | Notes | =N=000 | =N=000 | =N=000 | =N=000 |
Revenue from contract with cus | 14 | 11,922,947 | 8,053,667 | 6,271,711 | 3,921,116 |
Direct costs | 16 | (9,378,986) | (6,418,969) | (4,910,620) | (3,106,443) |
Gross profit |
Administrative expenses |
2,543,961 | 1,634,698 | 1,361,090 | 814,673 | |
17 | (1,694,226) | (1,672,642) | (822,258) | (544,429) |
849,735 | (37,944) | 538,832 | 270,244 | |
15 | 424,822 | 309,686 | 243,965 | 183,162 |
18 | 0 | 21,050 | 0 | 0 |
18 | 2,086 | 2,186 | 2,042 | 2,142 |
19 | (50,313) | 68,696 | (26,277) | 22,472 |
20 | (299,476) | (362,373) | (279,187) | (323,636) |
ax | 926,854 | 1,301 | 479,375 | 154,384 |
11. | (341,185) | 125,095 | (183,470) | (96,004) |
operati | 585,669 | 126,396 | 295,905 | 58,380 |
Other operating income Interest income
Net fair value gains on financial assets through profit or loss
Other gains and losses Finance costs
(Loss)/profit ) before income t Income tax expense (Loss)/profit from continuingAttributable to: |
Equity shareholders |
Non-controlling interests |
546,401 |
39,267 |
0 | ||
78,666 | 295,905 | 58,380 |
47,730 |
585,669 | 126,396 | 295,905 | 58,380 |
7,750 | (201,860) |
Net exchange differences on translating foreign operations
7,750 | (201,860) |
Other comprehensive income
Total comprehensive (loss)/income f | 593,419 | (75,464) | 295,905 | 58,380 |
Attributable to: |
Equity shareholders |
Non-controlling interests |
554,074 | (161,584) | 295,905 | 58,380 |
39,345 | (241,528) |
593,419 | (403,112) | 295,905 | 58,380 |
Basic earnings per share(kobo) | 24 | 5 | 12.37 | 2.44 |
Diluted earnings per share(kobo) | 24 | 5 | 12.37 | 2.44 |
The accompanying notes and statement of material accounting policy information form an integral part of these consolidated and Separate financial statements. |
1 |
Note | JULY-SEPT 2025 Group | JULY-SEPT 20 Group | ||
=N='000 | =N='000 | |||
CONTINUING OPERATIONS | ||||
Revenue | 14 | 4,196,392 | 2,964,333 | |
Cost of sales | 16 | (3,466,150) | (2,502,454) | |
Gross profit | 730,242 | 461,878 | ||
Admistrative expenses | 17 | (507,273) | (510,773) | |
Other operating income | 15 | 169,934 | 159,453 | |
Interest income | 18 | 0 | 20,450 | |
Net fair value gains/(losses) on financial assets at fair v | 0 | 946 | ||
Impairment lossesOther gains a -19 | 0 | 0 | ||
Other gains and losses | (106,246) | 36,806 | ||
Financing costs 20 | (94,177) | (111,224) | ||
Profit before taxation | 192,480 | 57,537 | ||
Income tax expenses(provision 11 | (72,296) | 260,325 | ||
Profit from continuing operations | 120,184 | 317,861 | ||
Attributable to: Equity shareholders | 134,721 | 175,714 | ||
Non-controlling interests | (14,538) | 142,147 | ||
120,182 | 317,861 | |||
Gains/(losses on revaluation of PPE | ||||
Foreign exchange translation reserve, net of tax | 116,330 | (57,930) | ||
Net actuarial gains/(losses) on defined benefit plans | ||||
236,512 | 259,931 |
249,887 | 118,363 |
(13,375) | (141,567) |
236,512 | (23,204) |
foreign exchange gains/(losses) transferred to the income statement others
Total comprehensive income/(loss) for the period Attributable to: Equity shareholders Equity shareho Non-contolling interests 2 ABC TRANSPORT PLC CONSOLIDATED AND SEPARATE STATEMENT OF FINANCIAL POSITIONGroup
GROUP
Company
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025 31-12-242025 | 2024 | 2024 | 2025 | 2024 | ||||
Note | N'000 | N'000 | N'000 | N'000 | N'000 | |||
Non-current assets | ||||||||
Property, plant and equipment | 1 | 10,111,334 | 4,176,664 | 8,250,559 | 8,903,225 | 3,071,917 | ||
Intangible assets | 12 | 25,954 | 26,880 | 15,896 | 19,298 | 26,284 | ||
Right of use assets | 175,500 | 29,861 | 21,172 | 164,414 | - | |||
Investment in subsidiaries | - | 0 | 141,470 | 141,470 | ||||
Financial assets - FVOCI | 1,845 | 1,845 | 1,845 | 1,845 | 1,845 | |||
Financial assets - FVPL | 17,922 | 18,876 | 17,922 | |||||
Deferred tax asset | 412,435 | 411,997 | 412,435 | 59,864 | 59,864 | |||
Total non-current assets | 10,727,069 | 4,665,169 | 8,720,782 | 9,290,116 | 3,319,302 | |||
Current assets | ||||||||
Inventories | 2 | 1,165,732 | 868,485 | 1,060,714 | 372,903 | 294,752 | ||
Trade and other receivables | 4 | 519,404 | 335,438 | 754,988 | 566,902 | 391,591 | ||
Other assets | 5 | 1,344,354 | 980,932 | 1,138,790 | 530,455 | 402,583 | ||
Cash and Cash equivalents | 6 | 220,788 | 230,077 | 318,781 | 76,606 | 73,725 | ||
Current Tax asset | 0 | 4,027 | 9,809 | - | ||||
Total current assets | 3,250,278 | 2,418,959 | 3,283,083 | 1,546,867 | 1,162,650 | |||
Total assets | 13,977,347 | 7,084,127 | 12,003,865 | 10,836,982 | 4,481,953 | |||
Equity and reserves | ||||||||
Issued share capital | 1,196,311 | 1,196,311 | 1,196,311 | 1,196,311 | 1,196,311 | |||
Share premium | 434,607 | 434,607 | 434,607 | 434,607 | 434,607 | |||
Retained earnings | 33,391 | (967,151) | (513,010) | (111,386) | (600,829) | |||
Other comprehensive income reserve | (70,165) | (262,172) | (77,837) | 18,188 | 18,188 | |||
Shareholder's fund | 1,594,145 | 401,595 | 1,040,071 | 1,537,720 | 1,048,277 | |||
Non-controlling interests | ||||||||
268,403 | 138,543 | 229,058 | - | |||||
Total equity and reserves | 1,862,547 | 540,138 | 1,269,129 | 1,537,720 | 1,048,277 | |||
Non-current liabilities | ||||||||
Loans and borrowings 10a | 652,541 | 1,031,485 | 775,844 | 652,541 | 942,259 | |||
Larfarge Advance frieght fees | 4,715,181 | 0 | 3,682,947 | 4,715,181 | ||||
Provisions 9 | 292,071 | 157,658 | 141,573 | 292,071 | 157,658 | |||
Deferred tax liabilities | 8,526 | 61,912 | 30,970 | |||||
Total non-current liabilities | 5,668,319 | 1,251,055 | 4,631,334 | 5,659,793 | 1,099,917 | |||
Current liabilities | ||||||||
Loans and borrowings 10b | 588,351 | 710,273 | 1,069,285 | 573,873 | 686,698 | |||
Post employment benefits - defined contribution | 390,296 | 365,491 | 367,058 | 390,296 | 365,491 | |||
Post employment benefits - defined bene 13 | 1,720 | 108,733 | - | - | 106,771 | |||
Current tax liabilities 11 | 794,019 | 477,919 | 653,940 | 306,418 | 195,580 | |||
Trade and other payables 7 | 4,244,967 | 3,494,214 | 3,820,281 | 2,157,790 | 865,355 | |||
Contract laibilities 8 | 346,472 | 136,304 | 192,838 | 211,092 | 113,863 | |||
Overdraft | 80,656 | - | - | - | - | |||
Total current liabilities | 6,446,481 | 5,292,935 | 6,103,402 | 3,639,470 | 2,333,759 | |||
Total Liabilities | 12,114,800 | 6,543,990 | 10,734,736 | 9,299,262 | 3,433,676 | |||
Total equity and liabilities | 13,977,347 | 7,084,128 | 12,003,865 | 10,836,982 | 4,481,953 | |||
The consolidated and Separate financial statements were approved by the Board of Directors on 29th October 2025 and signed on its behalf by:
Managing Director/CEO FRC/2015/PCNNG/00000011844
Chief Financial Officer FRC/2014/ICAN/00000007350
The accompanying notes and statement o
3 ABC TRANSPORT PLC
CONSOLIDATED AND SEPARATE STATEMENT OF CASH FLOWS | ||||
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025 | ||||
Group | Company | |||
2025 | 2024 | 2025 | 2024 | |
=N=000 | =N=000 | =N=000 | =N=000 | |
Cash flow from operating activities | 3,960,836 | 1,303,532 | 3,913,140 | 1,018,081 |
Interest paid | ||||
Income tax paid | ||||
Net cash inflow(outflow) from operating a | 3,960,836 | 1,303,532 | 3,913,140 | 1,018,081 |
Cash flow from investing activities: | ||||
Purchase of Property,plant and equipment | (3,300,533) | (269,433) | (3,198,643) | (132,761) |
Purchase of Intangible assets | 0 | (17,274) | 0 | (17,274) |
Sale of property, plant and equipment/Asset | 62,676 | 89,752 | 62,676 | 6,361 |
Interest received | 2,086 | 23,236 | 2,042 | 2,142 |
Cash received from Investment in finance leases | ||||
Borrowing cost on fixed assets addition | ||||
Net cash inflow(outflow) from investing a | (3,235,772) | (173,719) | (3,133,925) | (141,532) |
Cash flows from financing activities: | ||||
Borrowings/leases-Additions | 589,576 | 229,000 | ||
Repayment of borrowings | (1,193,813) | (738,895) | (764,360) | (541,568) |
Finance Charges | (299,476) | (362,373) | (279,187) | (323,636) |
Net cash inflow(outflow) from financing a | (903,713) | (1,101,268) | (814,547) | (865,204) |
Net increase(decrease) in cash and cash | (178,649) | 28,545 | (35,332) | 11,345 |
Cash and cash equivalents at 1 January | 318,781 | 201,531 | 111,938 | 62,380 |
Cash and cash equivalents at 30/9/2025 | 140,132 | 230,077 | 76,606 | 73,725 |
N:B :Overdaft is considered as part of cash and cash equivalents | ||||
ABC TRANSPORT PLC | |||||
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY | |||||
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025 | |||||
Attributable to equity holiders- the Group | |||||
Issued | Non | ||||
share | Share | Retained | OCI | controlling | |
capital | premium | earnings | reserves | interests | |
=N=000 | =N=000 | =N=000 | =N=000 | =N=000 | |
At 1 January 2024 | 1,196,310.89 | 434,607.00 | (1,045,816.84) | (62,331.02) | 92,831.83 |
Changes in equity for 2024 |
Profit for the year |
Net exchange differences on translating foreign operations |
SEPTEMBER 30, 2024 |
78,665.99 47,729.96 | 126,395.95 |
(199,841.40) (2,018.60) (201,860.00) | |
1,196,311 434,607 (967,151) (262,172) 138,543 | 0 540,138 |
Changes in equity for 2024 |
Profit/(Loss) for the year |
SEPTEMBER 30, 2024 |
Profit for the year |
obligation |
Net exchange differences on translating foreign operations |
SEPTEMBER 30, 2025 |
(513,010) (77,837) 229,058 1,269,129
546,401 | 39,267 | 585,669 | ||||
0 | ||||||
7,673 | 78 | 7,750 | ||||
1,196,311 | 434,607 | 33,391 | (70,165) | 268,403 | 0 | 1,862,547 |
1,196,311 | 434,607 |
ABC TRANSPORT PLC | |||
SEPARATE STATEMENT OF CHANGES IN EQUITY | |||
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025 | |||
Attributable to equity holiders- the Company | |||
share | Share | Retained | |
capital | premium | earnings | |
=N=000 | =N=000 | =N=000 | |
At 1 January 2024 | 1,196,311 | 434,607 | (659,209) |
OCI |
reserves |
=N=000 |
18,188 |
58,380 | 58,380 |
1,196,311 434,607 (600,829) | 18,188 1,048,277 |
As at 1 January 2025 | 1,196,311 | 434,607 | (407,291) | 18,188 | 1,241,815 | |
Changes in equity for 2025 | 0 | |||||
Profit/(Loss) for the year | 295,905 | 295,905 | ||||
SEPTEMBER 30, 2025 | 1,196,311 | 434,607 | (111,386) | 18,188 | 1,537,720 | |
The accompanying notes and statement of material accounting policy information form an integral part of these consolidated and separate financial statements. | ||||||
5 | ||||||
ABC TRANSPORT PLC | |||||||||
CONSOLIDATED AND SEPARATE UNAUDITED INTERIM FINANCIAL STATEMENTS | |||||||||
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025 | |||||||||
NOTES TO THE ACCOUNTS | |||||||||
PROPERTY,PLANT AND EQUIPMENT | GROUP | ||||||||
MOTOR VEHICLE | EQUIP, FURN & & FITTINGS | COMPUTER | LAND | BUILDINGS | WIP | TOTAL | Right of Use- MV | Right of Use- Building | Total |
COST/REVALUATION: | =N=000 | =N=000 | =N=000 | =N=000 | =N=000 | =N=000 | =N=000 | =N=000 | =N=000 | =N=000 |
BALANCE 01/01/2025 | 11,050,573 | 684,405 | 119,702 | 307,458 | 1,399,952 | 946,173 | 14,508,263 | 89,288 | 89,288 | |
ADJUSTMENT | 0 | 0 | 0 | |||||||
ADDITIONS/REVALUATION | 2,661,282 | 88,022 | 9,223 | 58,170 | 189,769 | 110,540 | 3,117,005 | 182,649 | 880 | 183,529 |
TRANS & RECLASSIFICATI | 0 | 0 | 0 | (201,122) | (201,122) | 0 | ||||
DISPOSALS/ADJUSTMENT | (189,340) | 0 | 0 | 0 | 0 | 0 | (189,340) | 0 | ||
BALANCE 30/9/2025 | 13,522,515 | 772,427 | 128,925 | 365,627 | 1,589,721 | 855,590 | 17,234,806 | 182,649 | 90,168 | 272,817 |
DEPRECIATION: | ||||||||||
BALANCE 01/01/2025 | 4,630,164 | 528,197 | 91,527 | 0 | 1,007,816 | 0 | 6,257,704 | 73,392 | 73,392 | |
ADJUSTMENT | 0 | 0 | ||||||||
CHARGE | 961,226 | 38,818 | 10,571 | 0 | 44,418 | 1,055,032 | 18,264 | 5,689 | 23,953 | |
ELIMINATED ON DISPOSAL | (189,265) | 0 | 0 | 0 | (189,265) | 0 | ||||
BALANCE 30/9/2025 | 5,402,125 | 567,015 | 102,098 | 0 | 1,052,233 | 0 | 7,123,472 | 18,264 | 79,081 | 97,345 |
AT 30/9/2024 AT 30/9/2025 | 2,505,629 8,120,390 | 114,984 205,412 | 22,570 26,828 | 299,528 365,627 | 397,367 537,487 | 849,372 855,590 | 4,189,450 10,111,334 | 164,385 | 17,963 11,087 | 17,963 175,471 |
6
PARENTMOTOR VEHICL | EQUIP, FURN | COMPUTER | LAND | BUILDINGS | WIP | TOTAL | Right of Use- MV | |
& FITTINGS | ||||||||
COST/REVALUATION: | =N=000 | =N=000 | =N=000 | =N=000 | =N=000 | =N=000 | =N=000 | =N=000 |
BALANCE 01/01/2025 | 10,711,871 | 543,448 | 109,144 | 187,458 | 1,383,344 | 101,384 | 13,036,649 | |
ADDITIONS/REVALUATION | 2,588,668 | 78,136 | 1,514 | 58,170 | 189,769 | 99,738 | 3,015,994 | 182,649 |
TRANS & RECLASSIFICATI | - | (201,122) | (201,122) | |||||
DISPOSALS/ADJUSTMENT | (189,340) | - | - | - | - | - | (189,340) | |
BALANCE 30/9/2025 | 13,111,199 | 621,584 | 110,658 | 245,627 | 1,573,113 | 0 | 15,662,181 | 182,649 |
DEPRECIATION: | ||||||||
BALANCE 01/01/2025 | 4,392,143 | 436,648 | 90,388 | - | 1,007,816 | - | 5,926,995 | |
CHARGE | 847,983 | 22,562 | 5,783 | 44,418 | - | 920,745 | 18,264 | |
TRANSFERS | 93,014 | 7,467 | 100,481 | |||||
ELIMINATED ON DISPOSAL | (189,265) | - | (189,265) | |||||
BALANCE 30/9/2025 | 5,143,875 | 466,677 | 96,171 | - | 1,052,234 | - | 6,758,957 | 18,264 |
0 | ||||||||
AT 30/9/2024 | 2,375,079 | 94,166 | 19,404 | 179,528 | 386,988 | 16,753 | 3,071,918 | - |
AT 30/9/2025 | 7,967,324 | 154,907 | 14,486 | 245,627 | 520,879 | 0 | 8,903,224 | 164,385 |
7
ABC TRANSPORT PLC | ||||
CONSOLIDATED AND SEPARATE UNAUDITED INTERIM FINANCIAL STATEMENTS | ||||
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025 | ||||
NOTES TO THE ACCOUNTS | ||||
GROUP | COMPANY | |||
INVENTORY | 2025 | 2024 | 2025 | 2024 |
=N=000 | =N=000 | =N=000 | =N=000 | |
Motor vehicle spares | 289,876 | 203,612 | 290,157 | 203,612 |
Fuel and diesel | 26,447 | 56,725 | 26,447 | 56,725 |
Stationeries and printed materials | 21,092 | 10,532 | 21,092 | 10,532 |
Oil and lubricants | 32,210 | 19,516 | 32,210 | 19,516 |
Snacks and fruit drinks | - | 7 | - | 7 |
Uniform and promotional materials | 210 | 1,519 | 210 | 1,519 |
Sanitation materials | 39 | 232 | 39 | 232 |
City Transit Inn (CTI) | 2,748 | 2,610 | 2,748 | 2,610 |
Transit Support Services (TSS) | 793,110 | 573,733 | - | |
1,165,732 | 868,485 | 372,903 | 294,752 | |
3 | NON CURRENT ASSETS HELD FOR SALE |
MOTOR VEHICLES | |
OTHERS |
4 | TRADE AND OTHER RECEIVABLES | ||||
Accounts Receviable | 331,101.6 | 192,462.8 | 119,497.9 | 84,196.8 | |
Staff Debit | 160,486.9 | 97,898.9 | 97,144.7 | 70,671.2 | |
ABC Ghana Ltd | - | - | 63,386.7 | 192,014.8 | |
Other Receivables | 110.0 | 41,311.4 | - | 21,028.1 | |
Other Debtors | 27,706.0 | - | 8,139.2 | ||
Abex Express | 1,650.8 | 1,650.8 | |||
ABC Cargo Express | (5,685.8) | ||||
Transit Support Services Limited | - | - | 278,733.6 | 27,714.9 | |
Curreent Accounts | - | 2,114.0 | - | ||
519,404 | 335,438 | 566,902 | 391,591 |
5 | OTHER CURRENT ASSETS | ||||
Prepaid Rent | 140,916 | 91,449 | 27,462 | 22,771 | |
Prepaid Insurance | 47,301 | 30,837 | 45,059 | 29,646 | |
Withholding Tax Recoverable | 517,657 | 398,538 | 457,935 | 350,166 | |
Deposit with Suppliers | 631,577 | 449,990 | - | ||
Others | 6,903 | 10,117 | - | ||
1,344,354 | 980,932 | 530,455 | 402,583 |
6 | CASH AND CASH EQUIVALENTS | ||||
Cash in Hand | 18,046 | 64,468 | 22,022 | 27,204 | |
Cash at Bank | 202,742 | 165,609 | 54,584 | 46,521 | |
Overdraft | (80,656) | 0 | - | ||
140,132 | 230,077 | 76,606 | 73,725 |
ABC TRANSPORT PLC |
CONSOLIDATED AND SEPARATE UNAUDITED INTERIM FINANCIAL STATEMENTS |
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025 |
NOTES TO THE ACCOUNTS |
7 | TRADE AND OTHER PAYABLES |
Trade Payable | |
Rapid Venture | |
Accrual Training Fund Levy | |
Industrial Training Fund Levy | |
Unclaimed Dividends | |
Co-operative Liabilities | |
Other Payables | |
Lafarge Advance Freight Fees | |
Staff Welfare Liabilities | |
Accrued Salaries | |
Cargo Franchise Security Deposit | |
ABC Cargo Express | |
Bus Franchise Security Deposit | |
Director's Current Account-FRANK NNEJI | |
Other payables consist of VAT,WHT,PAYE ETC |
GROUP | COMPANY | ||
2025 | 2024 | 2025 | 2024 |
=N=000 | =N=000 | =N=000 | =N=000 |
1,637,049 | 1,811,253 | 172,826 | 176,535 |
15,582 | 10,421 | 15,582 | 10,397 |
155,709 | 199,899 | 79,130 | 132,424 |
13,661 | 11,248 | 8,243 | 9,186 |
34,192 | 46,102 | 34,192 | 46,102 |
35,402 | 25,367 | 35,402 | 25,367 |
1,191,064 | 1,078,512 | 459,391 | 353,517 |
786,117 | 786,117 | - | |
214 | 141 | 214 | 141 |
96,585 | 73,945 | 95,110 | 73,228 |
7,100 | |||
441,029 | |||
920 | 6,820 | 920 | 720 |
271,373 | 230,505 | 29,635 | 37,738 |
4,244,967 | 3,494,214 | 2,157,790 | 865,355 |
NONE CURRENT | |
Larfarge Advance frieght fees | 4,715,181 |
4,715,181
8 | CONTRACT LIABILITIES | ||||
Deferred Income From Cargo | 135,170 | 22,232 | - | - | |
Deferred Income From Leased Warehouse | 68,020 | 10,915 | 68,020 | 10,915 | |
Deferred Income-DTA Income &Others | 143,073 | 102,948 | 143,073 | 102,948 | |
Deferred Income From Government Grant Income | 209 | 209 | |||
346,472 | 136,304 | 211,093 | 113,863 | ||
9 | ||||
PROVISIONS | ||||
Provisions For Litigation Settlement | 60,242 | 45,854 | 60,242 | 45,854 |
Other Provisions | 231,829 | 111,804 | 231,829 | 111,804 |
292,071 | 157,658 | 292,071 | 157,658 | |
10 | ||||
BORROWINGS | ||||
NONE CURRENT BORROWINGS | ||||
Access Bank Loan | 106,589 | 106,589 | ||
Lafarge Truck Finance Scheme | 355,862 | 598,214 | 355,862 | 598,214 |
16.5% Bond | 190,090 | 344,045 | 190,090 | 344,045 |
Bank of Industry -TSS | - | 89,226 | ||
652,541 | 1,031,485 | 652,541 | 942,259 | |
9 | ||||
ABC TRANSPORT PLC | ||||
CONSOLIDATED AND SEPARATE UNAUDITED INTERIM FINANCIAL STATEMENTS | ||||
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025 | ||||
NOTES TO THE ACCOUNTS | ||||
GROUP | COMPANY | |||
2025 | 2024 | 2025 | 2024 | |
CURRENT BORROWINGS | =N=000 | =N=000 | =N=000 | =N=000 |
BORROWINGS | ||||
Access Bank Loan | 135,547 | 135,547 | ||
Lafarge Truck Finance Scheme | 222,258 | 515,312 | 222,258 | 515,312 |
16.5% Bond | 216,068 | 171,386 | 216,068 | 171,386 |
Bank of Industry-Tss | 14,478 | 23,575 | - | |
588,351 | 710,273 | 573,873 | 686,698 | |
TAXATION | ||||
B/FWD | 677,766 | 497,323 | 265,243 | 138,809 |
Adjustement/Deffered Tax | 99,215.00 | (544,929) | - | (21,828) |
Income Tax Provision for the Period | 341,185 | 227,038 | 183,470 | 96,004 |
Adj Provision for the Period | 1,118,165 | 179,431 | 448,713 | 212,985 |
Paid in the Period | (324,146.48) | (53,645) | (142,294) | (17,405) |
C/FWD | 794,019 | 125,786 | 306,418 | 195,580 |
12 | INTANGIBLE ASSETS | 25,954 | 26,880 | 19,298 | 26,284 |
13 | POST EMPLOYMENT BENEFITS | ||
Defiined Benefit Obligations Scheme | 1,720 | 108,733 (0.0) 106,771 | |
Define Contribution Schemes | - | ||
1,720 | 108,733 (0.0) 106,771 | ||
10 |
ABC TRANSPORT PLC | ||||
CONSOLIDATED AND SEPARATE UNAUDITED INTERIM FINANCIAL STATEMENTS | ||||
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025 | ||||
NOTES TO THE ACCOUNTS | ||||
GROUP | COMPANY | |||
2025 | 2024 | 2025 | 2024 | |
REVENUE | =N=000 | =N=000 | =N=000 | =N=000 |
Transport earnings | 2,359,635 | 1,728,259 | 2,292,336 | 1,782,777 |
Haulage operations | 3,606,134 | 1,891,338 | 3,606,134 | 1,891,338 |
Loads and waybill | 3,679,237 | 2,645,725 | 16,964 | 14,590 |
Hospitality | 356,277 | 232,411 | 356,277 | 232,411 |
Sale of vehicle spares and speed governo | 1,921,665 | 1,555,934 | - | |
11,922,947 | 8,053,667 | 6,271,711 | 3,921,116 | |
15 | OTHER OPERATING INCOME | ||||
Insurance indemnity | 22,611 | 64,622 | 0 | 3,000 | |
Operating rental income | 1,696 | 10,657 | 25,284 | 34,244 | |
Income from adverts | 0 | 3,453 | 0 | 3,453 | |
Sale of scrap/other assets | 6,526 | 13,591 | 6,526 | 13,591 | |
Exchange gain | 2,671 | 2,746 | 2,671 | 2,746 | |
Demurrage on waybills | 225 | 293 | - | - | |
Franchise income | 343,150 | 175,419 | 161,542 | 87,222 | |
Training income | 47,766 | 38,906 | 47,766 | 38,906 | |
utility fee | 170 | 0 | 170 | 0 | |
Other income | 0 | 0 | 0 | ||
424,822 | 309,686 | 243,965 | 183,162 |
16 | OPERATING COSTS |
Salaries and allowances | |
Uniform and training | |
Trip expenses | |
Standby expenses | |
Hospitality expenses | |
Driver training academy expenses | |
Depreciation and amortisation | |
Motor vehicle repairs & maintenance | |
Repairs and maintenance buildings | |
Repairs and maintenance other assets | |
Road expenses | |
Fuel expenses | |
Insurance expenses | |
Rent expenses | |
Oil and lubricant | |
Loading and offloading | |
Fines | |
Food items, drinks, etc. | |
Packaging | |
Operating lease charges | |
Other direct expenses | |
TSSL |
GROUP | COMPANY | ||
2025 | 2024 | 2025 | 2024 |
=N=000 | =N=000 | =N=000 | =N=000 |
899,044 | 763,193 | 428,453 | 324,652 |
8,354 | 4,705 | 1,049 | 723 |
254,838 | 144,993 | 165,935 | 94,737 |
27,271 | 13,471 | 16,448 | 7,721 |
141,245 | 120,282 | 141,245 | 120,282 |
16,348 | 17,005 | 16,348 | 17,005 |
1,006,249 | 493,323 | 882,300 | 387,306 |
1,168,958 | 728,241 | 729,604 | 460,186 |
18,518 | 12,981 | 8,500 | 4,789 |
17,236 | 22,264 | 11,463 | 12,419 |
238,731 | 179,786 | 148,997 | 110,398 |
3,076,300 | 2,322,368 | 1,895,178 | 1,371,890 |
200,044 | 82,769 | 187,274 | 71,981 |
105,658 | 67,280 | 35,915 | 11,440 |
169,681 | 97,762 | 100,457 | 54,496 |
145,015 | 76,726 | 82,796 | 32,790 |
1,518 | - | 1,237 | - |
5,189 | 2,260 | 2,277 | 1,760 |
68,795 | 3,800 | - | 716 |
0 | 28,960 | - | 7 |
228,233 | 176,890 | 55,143 | 21,146 |
1,581,759 | 1,059,911 | - | - |
9,378,986 | 6,418,969 | 4,910,620 | 3,106,443 |
11 | |||
ABC TRANSPORT PLC | ||||
CONSOLIDATED AND SEPARATE UNAUDITED INTERIM FINANCIAL STATEMENTS | ||||
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025 | ||||
NOTES TO THE ACCOUNTS | ||||
2025 | 2024 | 2025 | 2024 | |
ADMINISTRATIVE EXPENSES | =N=000 | =N=000 | =N=000 | =N=000 |
Salaries and allowances | 134,591 | 91,812 | 64,022 | 48,511 |
Pension | 38,634 | 37,102 | 26,984 | 24,465 |
Staff terminal benefit | 75 | (3,701) | 75 | (3,701) |
Inconvenience allowance | 18,591 | 11,574 | 5,790 | 3,449 |
Outstation Expenses | 15,107 | 12,376 | 14,062 | 10,317 |
Meal subsidy | 9,720 | 5,236 | 9,011 | 4,719 |
Bonuses | 116,024 | 41,504 | 12,723 | 27,056 |
Staff training and development | 19,642 | 9,988 | 13,682 | 5,575 |
NSITF- employer's contribution | 4,397 | 4,432 | 2,544 | 2,887 |
Medical expenses | 28,568 | 20,499 | 17,863 | 12,336 |
Depreciation and amortisation | 88,676 | 59,182 | 66,410 | 29,152 |
Motor vehicle repairs and maintenan | 21,504 | 17,448 | 17,273 | 12,207 |
Repairs and maintenance buildings | 3,623 | 1,012 | 1,500 | 845 |
Repairs and maintenance other ass | 2,318 | 2,170 | 863 | 935 |
Computer repairs and maintenance | 22,642 | 11,096 | 11,232 | 6,641 |
Local and Foreign transport expens | 172,714 | 92,119 | 39,996 | 34,795 |
Fuel expenses | 41,516 | 24,614 | 28,616 | 15,437 |
Insurance expenses | 126,479 | 46,905 | 119,733 | 46,021 |
Compensation | 23,876 | 69,934 | 8,294 | 9,619 |
Accident expenses | 10,257 | 7,622 | 7,280 | 6,382 |
Rent expenses | 31,397 | 16,566 | 6,338 | 2,019 |
Water rate | 1,450 | 1,025 | 595 | 337 |
Other taxes and levies | 31,096 | 26,070 | 4,388 | 4,617 |
Licensing/registration | 70,952 | 32,935 | 37,836 | 17,750 |
Director's emolument | 38,660 | 38,952 | 27,860 | 28,152 |
Director's fees | 5,125 | 3,425 | 4,000 | 2,300 |
Advertisement and publicity | 22,321 | 22,597 | 11,567 | 14,755 |
Public relation | 4,771 | 3,407 | 1,778 | 1,634 |
Donations | 9,274 | 3,693 | 8,250 | 3,178 |
Subscription and dues | 37,548 | 30,199 | 25,542 | 23,500 |
Electricity and lighting | 87,162 | 65,561 | 47,082 | 34,789 |
Bank charges and commission | 92,150 | 37,644 | 22,395 | 6,824 |
Audit fees | 7,312 | 9,959 | 4,553 | 4,591 |
Legal and professional charges | 34,146 | 7,951 | 11,018 | 7,951 |
Printing and stationeries | 58,254 | 28,337 | 17,854 | 11,795 |
Hotel expenses | 12,914 | 5,092 | 9,965 | 4,056 |
Security expenses | 78,524 | 57,857 | 29,906 | 20,717 |
Cleaning and sanitation | 24,249 | 18,968 | 9,863 | 7,620 |
Telephone and postages | 50,765 | 35,265 | 17,670 | 16,880 |
Newspaper expenses | 133 | 184 | 129 | 184 |
Exchange loss | 0 | 583,394 | - | 5 |
Entertainment expenses | 20,123 | 7,376 | 4,973 | 5,165 |
AGM expenses | 3,750 | 3,833 | 3,750 | 3,833 |
Office expenses | 12,235 | 8,260 | 11,922 | 8,042 |
General expenses | 41,716 | 39,850 | 35,065 | 16,087 |
RATES EXPENSES | 0 | 70 | - | |
OTHER MARKETING/DISTRIBUTIO | 18,913 | 21,248 | - | |
First aid | 6 | 0 | 6 | - |
1,694,226 | 1,672,642 | 822,258 | 544,429 | |
12 | ||||
17
ABC TRANSPORT PLC | ||||
CONSOLIDATED AND SEPARATE UNAUDITED INTERIM FINANCIAL STATEMENTS | ||||
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025 | ||||
NOTES TO THE ACCOUNTS | ||||
GROUP | COMPANY | |||
2025 | 2024 | 2025 | 2024 | |
INTEREST/OTHER INCOME | =N=000 | =N=000 | =N=000 | =N=000 |
bank interest | - | 21,050 | - | |
investment income | 2,086 | 2,186 | 2,042 | 2,142 |
BANK INTEREST | 2,086 | 23,236 | 2,042 | 2,142 |
21 | CASH FLOW FROM OPERATING ACTIVITIES | |
(Loss)/profit for the year | 585,669 |
126,396 | 295,905 |
- | |
- | |
566,677 | 939,009 |
- | 100,481 |
(2,186) | (2,042) |
21,050 | - |
362,373 | 279,187 |
(154,130) | |
(125,095) | 183,470 |
(89,752) | (62,676) |
705,333 | 1,733,335 |
58,380 |
- |
- |
415,740 |
102,966 |
(2,142) |
(0) |
323,636 |
- |
96,004 |
(6,361) |
988,222 |
Adjustment for: | |
Depreciation and amortisation | 1,060,721 |
Transfers & Reclafficiations | - |
Fair value gain on Financial assets -FVT | (2,086) |
Interest income | - |
Interest expense | 299,476 |
Net exchange differences on translating foreign operations | 47,017 |
Income tax expense | 341,185 |
Profit on disposal of property, plant and | (62,676) |
2,269,307 | |
OPERATING PROFIT/(LOSS) BEFORE CHANGES IN OPEARTING ASSETS | |
Changes in: | |
Inventories | (105,018) |
Trade and other receivables | 235,583 |
Other Current assets | (195,754) |
INCREASE/(DECREASE) IN OPERATING LIABS . CREDITORS | - |
Trade and other payables | 1,989,002 |
Contract laibilities | 153,634 |
19 | OTHER GAINS AND LOSSES | ||||
Profit on disposal of PPE | 62,676 | 89,752 | 62,676 | 6,361 | |
exchange gains etc) | 25,158 | ||||
Others(Miscellaneous income) | (138,146) | (21,056) | (88,953) | 16,111 | |
- | |||||
(50,313) | 68,696 | (26,277) | 22,472 | ||
20 | FINANCE COST |
FINANCE LEASE CHARGES |
2,025 | 2,024 | 2,025 | 2,024 |
=N=000 | =N=000 | =N=000 | =N=000 |
299,476 | 362,373 | 279,187 | 323,636 |
299,476 | 362,373 | 279,187 | 323,636 |
Cash generated from operating activi | 4,346,754 | 1,378,315 | 4,004,657 | 1,058,414 |
Tax paid through cash | (324,146) | (53,645) | (29,745) | (17,405) |
Employee benefit paid | (61,772) | (21,138) | (61,772) | (22,929) |
Net cash from operating activities | 3,960,836 1,303,532 3,913,140 1,018,081 |
138,996 |
62,573 |
(162,523) |
(68,491) |
98,796 |
(33,029) |
(17,653) |
(14,081) |
(31,464) |
655,227 |
(21,291) |
2,168,838 |
105,208 |
128,964 |
4,427 |
ABC TRANSPORT PLC |
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS |
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025 |
General information |
ABC Transport Plc was incorporated in April 1993.The Company's business is road passenger transportation between major cities in the south,north central and Abuja. |
In July 2004, the Company commenced road passenger transportation on the west coast between Lagos Nigeria and Accra Ghana.ABC Transport Ghana in which ABC Transport Plc owns a 99% equity stake was incorporated in 2007 to provide transport services within Ghana and to offer passenger and cargo handling service to ABC Transport Plc. |
ABC Transport Plc is also involved Haulage Services and Hospitality business at its City Transit Inn (CTI), Abuja. In January1, 2023, the Cargo Segment of the company transformed into subsidiary with the company owning a 99% equity state |
ABC Transport Plc which became public company in 2005 equally owns 50% equity stake in Transit Support Services Ltd, a trading company engaged in the importation, sales of vehicles spares and installation of motor vehicle speed governing devices and assembly of heavy duty trucks and a 5% stake in ABC Express Courier (ABEX) ltd. |
Going Concern |
The Group's management has made assessment of the Group's ability to continue as a going concern and is satisfied that the Group has the resources to continue in business for the foreseeable future.Furthermore,management is not aware of any material uncertainties that may cast doubt upon the Group's ability to continue as a going concern.Therefore, the financial statements are prepared on going concern basis. |
Basis of preparation of third quarter account |
This consolidated financial statement for fourth quarter months ended september, 2025 has been prepared in accordance with the International Financial Reporting Standard (IFRS) set by International Accounting Standard Board(IASB) and specifically in compliance with Interim Financial Reporting (IAS 34). The financial report should be read in conjuction with the Group's audited financial statements for 2024 which presents the company's IFRS policies. |
The financial statements are prepared on the historical cost basis of accounting.The financial statements are presented in Naira, which is the functional currency of the economic environment in which the entity operates and are presented in thousands of Naira. |
New standards, ammendments, interpretations issued but not yet effective |
The following new pronouncements, considered relevant to the Company, are not yet effective as at as Ist January,2025 and have not been early adopted by the Company. The Company's assessment of the impact of these new standards, interpretations or amendments is set out below. |
Lack of Exchangeability (Amendments to IAS 21) |
The amendments to IAS 21 address the issue of currency exchangeability and provide guidance on determining the exchange rate when a currency is not exchangeable. These amendments require entities to assess whether a currency can be exchanged into another currency within a normal administrative delay and through a market or exchange mechanism that creates enforceable rights and obligations. If a currency is not exchangeable, entities must estimate the spot exchange rate at the measurement date |
Additionally, the amendments mandate disclosures that enable users of financial statements to understand the impact of a currency not being exchangeable. These disclosures include qualitative and quantitative information about the lack of exchangeability and its effects on the entity's financial position. The amendments are effective for annual reporting periods beginning on or after January 1, 2025 |
1
2
3The amendments are effective for annual periods beginning on or after 1 January 2025 to changes in accounting policies and changes in accounting estimates that occur on or after the beginning of that period, with earlier application permitted. |
The amendment will be appropriate applied when the circumstances to demand |
14
Presentation and Disclosure in Financial Statements - IFRS 18 |
This new standard deals with the presentation and disclosure of information in general-purpose financial statements; new requirements:
The effective date is 1 January 2027. |
IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information |
This new standard requires entities to disclose information about sustainability-related risks and opportunities that are useful to users relating to providing resources to the entity.
processes & controls and performance in relation to the sustainability-related risks and opportunities and targets set. The mandatory adoption date is 1 January 2028. |
The amendments are effective for annual reporting periods beginning on or after 1 January 2028, with earlier application permitted.The amendment will be appropriate applied when the circumstances to demand |
3 | Summary of significant accounting policies |
The significant accounting policies set out below have been applied consistently to all years presented in these consolidated financial statements unless otherwise indicated. | |
4 | Contingent liabilities/Litigation settlements |
There were no additions to contingent liabilities within the period. Though a few cases came up within the period, the company does not expect material liabilities to arise thereupon, | |||
There were no litigation settlemets within the period under review.However,the company is in talks for court setlement in some ongoing cases. | |||
5 | Related party transactions | ||
The Group has business relationship with Rapido Ventures Ltd,Abex Express,Mayfair and Transit Support services | |||
Mayfair Hotels and Suites | |||
The wife of ABC's Transport plc founder is the managing director of Mayfair Hotels | |||
Included in"Trade and other Payables" is N1,387,000 due to Mayfair as at 30/9/2025 | |||
Transit Supports Services Ltd. | |||
ABC Transport Plc owns 50% equity in Transit Support services Ltd.During the period under review,invoices from Transit Support Services to ABC Transport Plc was N241m while the total amount of invoices from ABC Transport Plc to Transit Support Services was zero.Included in"Trade and other Receavable"is N279.86m due to Transit support services as at 30/9/2025 | |||
6 Events occuring after the reporting period | |||
There have not been significant events after the interim period that could alter the current position | |||
7 | Debt and equity securities,loan repayments and financing arrangements | ||
There were no issuances or repurchases of debt securities within the period. | |||
Borrowings | GROUP | COMPANY | |
N'000 | N'000 | ||
Opening balance (1/1/2025) | 1,845,129 | 1,761,774 | |
New borrowings | 589,576 | 229,000 | |
Repayments | (1,193,813) | (764,360) | |
Closing balance (30/9/2025) | 1,240,892 | 1,226,414 | |
Current portion | 588,351 | 573,873 | |
Non-current portion | 652,541 | 652,541 | |
Total | 1,240,892 | 1,226,414 | |
8 | Dividends |
No dividend was declared based on the performance for the period. | |
9 | Financial instruments |
An unclaimed dividend pool of N14,653,65373 was transferred in Aug'12 from the custody of Stanbic IBTC Asset Management Ltd for investment to the benefit of the company in line with the provisions of the Investment and Securities Act 2007.Fair value gain of N2.042m earned within the period Jan 2025 -June 2025 is included in the interest income reported in P or L. The sum of N15.9m unclaim dividend has be refunded. Unclaimed dividend fund stands at N34.19m as reported under note 7 (Trade and other payables) |
10 | Restructurings |
There were no restructuring or reversals relating to same within the period under review |
11 | Changes in estimates/Prior year adjustments | ||
There were no material prior year adjustments due to either errors or misstatements | |||
12 | .Impairments/Write-down of inventory to NRV | ||
No impairments were recognized on property, plant and equipment . | |||
There were no write-downs of inventory to net realizable value. | |||
13 | Risks and Uncertainties | ||
The group's principal risk and uncertainty exposures are as enunciated in the 2024 audited financial statement | |||
14 | Key events within the interim period | ||
No event or transaction has occurred since the reporting date, which would have had material effect on the financial statements as at that date or which needs to be mentioned in the financial statements in the interest of fair presentation of the Company's financial position as at the reporting date or its results for the year that ended. | |||
15 | Earnings Per Share | ||
The earnings and weighted average number of ordinary shares used in the report | |||
Group | |||
2025 | 2024 | ||
=N=000 | =N=000 | ||
Profit attributable to equity Shareholders | 546,401 | 78,666 | |
Weighted number of ordinary shares for the purpose of basic earning per share | 2,392,622 | 2,392,622 | |
Weighted number of ordinary shares for the purpose of dilluted earning per share | 2,392,622 | 2,392,622 | |
Company | |||
2025 | 2024 | ||
=N=000 | =N=000 | ||
Profit attributable to equity Shareholders | 295,905 | 58,380 | |
Weighted number of ordinary shares for the purpose of basic earning per share | 2,392,622 | 2,392,622 | |
16 | Compliance with Rule on Securities Trading | ||
In compliance with Rule 17.15 Disclosure of dealings in issuers' shares, Rulebook of Exchange 2015(Issuers' Rule) ABC Transport Plc maintains a security Trading Policy which guides Directors, Audit Committee members, employees and individuals categorised as insiders as to their dealing in the company shares. the Policy undergoes periodic reviews by the Board and its updated accordingly. the company has made specific inquires of all its Directors and other insiders and the ompany is not aware of any infringement on this policy during the period. | |||
16 | |||
ABC TRANSPORT PLC | |||||
CONSOLIDATED SEGMENT PERFORMANCE STATEMENT | |||||
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025 | |||||
2025 | COACH | SPRINTER | SHUTTLE | CARGO | HAULAGE |
Income | N'000 | N'000 | N'000 | N'000 | N'000 |
Corporate and others | |||
HOSPITALITY (CTI) | TRADING(TRU CK/SPARE | OTHERS | TOTAL |
N'000 | N'000 | N'000 | N'000 |
Gross Segment Revenue | 502,958 | 1,595,572 | 326,881 | 3,613,450 | 3,606,134 | 356,277 | 2,162,852 | - | 12,164,124 |
Intersegment Revenue | 84,406 | 104,689 | 11,966 | - | 201,061 |
Total Revenue | 587,364 | 1,700,261 | 338,847 | 3,613,450 | 3,606,134 | 356,277 | 2,162,852 | - | 12,365,185 |
Other Income | 73,289 | 88,254 | 217,748 | - | - | 3,925 | 58,017 | 441,233 |
587,364 | 1,773,550 | 427,101 | 3,831,198 | 3,606,134 | 356,277 | 2,166,777 | 58,017 | 12,806,418 |
LESS: DIRECT COSTS | |||||||||
Material | 221,562 | 644,340 | 153,406 | 1,696,323 | 1,151,007 | 80,981 | 1,822,947 | - | 5,770,566 |
Wages & Salaries | 33,039 | 105,561 | 44,741 | 470,591 | 114,292 | 29,324 | 40,362 | - | 837,910 |
Depreciation-Direct | 47,021 | 122,255 | 7,523 | - | 724,123 | 19,279 | 13,990 | 934,191 | |
Depreciation-Apportioned | 1,045 | 5,906 | 2,635 | - | 1,499 | - | - | 11,085 | |
Finance Lease Charges | 4,931 | 46,908 | 3,205 | - | 220,650 | 3,493 | 20,289 | - | 299,476 |
Operating Lease Charges | - | - | - | 130,050 | - | - | - | - | 130,050 |
Intersegment Expenses | - | - | - | 201,061 | - | - | - | - | 201,061 |
Impairment | - | - | - | - | - | - | - | - | - |
Other direct overheads | 179,338 | 353,412 | 82,976 | 459,812 | 922,139 | 67,836 | 65,895 | 21,047 | 2,152,454 |
486,936 1,278,382 294,486 2,957,837 3,133,710 200,912 1,963,482 21,047 10,336,793
GROSS PROFIT/(LOSS) | 100,427 | 495,168 | 132,615 | 873,361 | 472,424 | 155,365 | 203,294 | 36,970 | 2,469,625 | |
LESS: APPORTIONED COSTS | ||||||||||
Workshop charge | 12,111 | 29,067 | 19,378 | - | 4,984 | - | - | - | 65,539 | |
General Administration | 76,263 | 194,455 | 122,020 | 654,505 | 277,279 | 68,411 | 84,298 | - | 1,477,231 | |
88,374 223,521 141,398 654,505 282,263 68,411 84,298 - 1,542,771
TOTAL EXPENSES | 575,310 | 1,501,903 | 435,884 | 3,612,342 | 3,415,973 | 269,323 | 2,047,780 | 21,047 | 11,879,563 |
PROFIT/(LOSS) BEFORE T | 12,054 | 271,647 | (8,783) | 218,856 | 190,161 | 86,954 | 118,996 | 36,970 | 926,854 |
ABC TRANSPORT PLC | |||||
CONSOLIDATED SEGMENT PERFORMANCE STATEMENT | |||||
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2024 | |||||
2024 | COACH | SPRINTER | SHUTTLE | CARGO | HAULAGE |
Income | N'000 | N'000 | N'000 | N'000 | N'000 |
Corporate and others | |||
(CTI) | TRADING(TRU | OTHERS | TOTAL |
N'000 | N'000 | N'000 | N'000 |
Gross Segment Revenue | 415,502 | 1,115,586 | 236,030 | 2,606,756 | 1,891,338 | 232,411 | 1,555,935 | - | 8,053,557 |
Intersegment Revenue | 99,798 | 76,853 | 5,636 | - | 182,287 |
Total Revenue | 515,300 | 1,192,439 | 241,667 | 2,606,756 | 1,891,338 | 232,411 | 1,555,935 | - | 8,235,845 |
Other Income | 39,571 | 47,651 | 150,593 | - | - | (478,948) | 120,819 | (120,315) |
515,300 | 1,232,009 | 289,317 | 2,757,349 | 1,891,338 | 232,411 | 1,076,987 | 120,819 | 8,115,530 |
LESS: DIRECT COSTS | |||||||||
Material | 220,089 | 512,112 | 85,008 | 1,412,437 | 744,883 | 56,707 | 1,059,911 | - | 4,091,146 |
Wages & Salaries | 45,930 | 71,766 | 23,539 | 438,541 | 62,716 | 15,904 | 33,112 | - | 691,508 |
Depreciation-Direct | 28,173 | 131,991 | 20,124 | - | 193,187 | 12,074 | 4,092 | 389,641 | |
Depreciation-Apportioned | 4,642 | 11,101 | 11,706 | - | 6,660 | - | - | 34,109 | |
Finance Lease Charges | 10,056 | 23,318 | 5,713 | - | 278,923 | 5,625 | 38,738 | - | 362,374 |
Operating Lease Charges | - | - | - | 92,576 | - | - | - | - | 92,576 |
Intersegment Expenses | - | - | - | 182,287 | - | - | - | - | 182,287 |
Impairment | - | - | - | - | - | - | - | - | - |
Other direct overheads | 133,786 | 273,996 | 64,701 | 173,781 | 381,104 | 73,233 | 8,021 | 14,762 | 1,123,385 |
442,676 1,024,284 210,791 2,299,622 1,667,474 163,543 1,143,875 14,762 6,967,027
GROSS PROFIT/(LOSS) | 72,624 | 207,726 | 78,527 | 457,727 | 223,864 | 68,868 | (66,888) | 106,056 | 1,148,503 | |
LESS: APPORTIONED COSTS | ||||||||||
Workshop charge | 13,857 | 19,796 | 16,332 | - | 5,356 | - | - | - | 55,341 | |
General Administration | 122,559 | 175,085 | 144,445 | 416,674 | 95,219 | 45,000 | 71,180 | 21,698 | 1,091,860 | |
136,416 194,881 160,776 416,674 100,576 45,000 71,180 21,698 1,147,201
TOTAL EXPENSES | 579,093 | 1,219,164 | 371,567 | 2,716,296 | 1,768,050 | 208,543 | 1,215,055 | 36,460 | 8,114,228 |
PROFIT/(LOSS) BEFORE T (63,793) 12,845 (82,250) 41,053 123,288 23,868 (138,068) 84,358 1,302 | |||||||||