Quarter 2 financial statement for 2025

Statement of Comprehensive Income

3

Statement of Financial Position

4

Statement of Changes in Equity

5

Statement of Cash Flow

6

Notes to the Financial Statements

7

Free float Computation

10

2023 Q2

2023 Q2

2024 Q2

2024 Q2

APR - SEPT

JULY - SEPT

APR - SEPT

JULY - SEPT

N'000

N'000

NOTE

N'000

N'000

1,463,776

863,935

Revenue

1

1,401,163

1,275,591

(564,523)

(324,413)

Cost of sales

(583,167)

(539,918)

899,253

539,522

Gross profit

817,996

735,673

21,433

-

Other operating income

42,717

10,479

(247,161)

(131,892)

Selling and distribution costs

(295,953)

(192,475)

(521,455)

(273,219)

Administrative expenses

(539,625)

(323,090)

152,069

134,411

Operating Profit

25,135

230,587

(15,534)

(15,534)

Finance costs

(11,825)

(11,825)

5,220

2,604

Finance income

2,689

2,689

141,755

121,481

Profit before tax

15,999

221,451

(42,527)

(36,445)

Income tax

(4,800)

(66,435)

99,229

85,037

Profit for the year

11,199

155,016

LEARN AFRICA PLC

STATEMENT OF FINANCIAL POSITION AS AT

2024

2024

SEPTEMBER

MARCH

DESCRIPTION

NOTE

N'000

N'000

Assets

Non-current assets

Property and equipment

2

488,725

543,160

Investment Properties

345,000

345,000

Right of use assets

27,828

16,713

Intangible asset

7,147

11,997

Deferred tax asset

157,972

157,972

1,026,672

1,074,842

Current assets

Inventories

3

4,171,574

2,746,278

Trade and other receivables

4

718,273

510,021

Prepayments

5

50,895

42,671

Cash and short-term deposits

6

361,107

488,967

5,301,849

3,787,937

Total assets

6,328,521

4,862,779

Equity and liabilities

Equity

Issued share capital

385,725

385,725

Share premium

1,940,214

1,940,214

Other capital reserves

67,703

67,703

Retained earnings

1,225,775

1,214,577

Total equity

3,619,417

3,608,218

Current liabilities

Trade and other payables

7

2,248,522

1,003,637

Current tax liabilities

4,800

106,230

Provisions

155,781

144,694

Interest-bearing loans and borrowings

300,000

-

Total Liabilities

2,709,103

1,254,561

Total equity and Liabilities

6,328,521

4,862,779

Alhaji Hassan Bala

Ojeile Cordelia (Mrs)

Managing Director

Finance Director

(FRC/2016/PRO/DIR/003/00000015071)

(FRC /2014/PRO/ICAN/001/00000002038)

OTHER

ISSUED

SHARE

CAPITAL

RETAINED

CAPITAL

PREMIUM

RESERVES

EARNINGS

TOTAL

N'000

N'000

N'000

N'000

N'000

As at 1 April 2023

385,725

1,940,214

67,703

1,396,242

3,789,884

Profit for the year

11,194

11,194

Dividend

(192,860)

(192,860)

As at March 2024

385,725

1,940,214

67,703

1,214,576

3,608,218

As at 1 April 2024

385,725

1,940,214

67,703

1,214,576

3,608,218

Profit for the year

11,199

11,199

Dividend

-

-

As at September 2024

385,725

1,940,214

67,703

1,225,775

3,619,417

2024

2023

SEPT.

SEPT.

N'000

N'000

Operating activities

Cash generated from operations

(64,689)

(516,527)

Income tax paid

(53,601)

(214,319)

Net cash generated from operating activities

(118,290)

(730,846)

Investing activities

Interest received

2,689

5,220

Proceeds from sale of fixed assets

403

-

Purchase of fixed assets

(838)

(13,793)

Net cash used in investing activities

2,254

(8,573)

Financing activities

Interest paid

(11,825)

(15,534)

Dividend paid

-

(192,863)

Net cash used in financing activities

(11,825)

(208,397)

Net (decrease)/increase in cash and cash equivalents

(127,860)

(947,816)

Cash and cash equivalents at 1 April

488,967

1,055,716

Cash and cash equivalents at 30 September

361,107

107,900

Notes to the financial statements

1. Revenue

Analysis by zone

2023 Q2

2024 Q2

APR - SEPT

APR - SEPT

N'000

N'000

HEAD OFFICE

483,045

191,610

NORTHERN ZONE

266,767

297,465

EASTERN ZONE

168,050

285,649

WESTERN ZONE

545,914

626,439

1,463,776

1,401,163

2. FIXED ASSETS

Leasehold

Leasehold

Furniture

Land

Land and

Plant &

Motor

and

Solar

Building

Machinery

Vehicles

Fittings

Hardware

Energy

Total

N'000

N'000

N'000

N'000

N'000

N'000

N'000

N'000

Cost/valuation

At 1 April 2024

111,582

141,820

117,198

515,159

204,587

122,117

43,426

1,255,889

Additions

-

-

308

-

190

340

-

838

Disposals

-

-

-

(8,064)

-

-

-

(8,064)

As at 30th Sept. 2024

111,582

141,820

117,506

507,095

204,777

122,457

43,426

1,248,663

Depreciation

At 1 April 2024

-

67,752

84,675

270,010

164,874

107,180

18,231

712,722

Charge for the year

-

1,471

2,757

38,839

3,426

3,359

5,428

55,280

Disposals

-

-

(8,064)

-

-

-

(8,064)

As at 30th Sept. 2024

-

69,223

87,432

300,785

168,300

110,539

23,659

759,938

Net book value

As at 30th Sept. 2024

111,582

72,597

30,074

206,310

36,477

11,918

19,767

488,725

As at 31st March 2024

111,582

74,068

32,523

245,149

39,713

14,937

25,195

543,167

3. Inventories

2024

2024

SEPTEMBER

MARCH

N'000

N'000

Raw materials

377,359

294,787

Work in progress

40,282

44,339

Publications

2,305,932

2,393,503

Goods in transit

1,441,937

13,649

Consumables

6,064

-

TOTAL

4,171,574

2,746,278

4. Trade and other Receivables

2024

2024

SEPTEMBER

MARCH

N'000

N'000

Trade receivables

1,176,663

884,078

Staff Salary Advance

107

435

1,176,770

884,514

Less: impairment of doubtful receivables

(458,920)

(439,675)

717,850

444,839

withholding tax recoverable

-

62,830

Other receivables

423

2,352

TOTAL

718,273

510,021

5. Prepayments

2024

2024

SEPTEMBER

MARCH

N'000

N'000

Non current prepayments

-

-

Current prepayments

50,895

42,671

50,895

42,671

6. cash and cash equivalents

2024

2024

SEPTEMBER

MARCH

N'000

N'000

Cash at bank and on hand

321,107

242,101

Short-term deposit

40,000

246,865

361,107

488,966

7. Trade and other payables

2024

2024

SEPTEMBER

MARCH

N'000

N'000

Trade payables

1,292,826

142,606

Royalties

602,253

519,387

Withholding tax

36,070

26,065

Other payables

21,750

69,134

Unclaimed dividend

175,776

175,776

Sundry Creditors

119,847

70,669

2,248,522

1,003,637

Free Float Computation

Company Name:

Learn Africa Plc.

Board Listed:

Main Board

Year End:

March

Reporting Period:

Period Ended 30 Sept 2024

Share Price at end of reporting period:

N3.20(2023: N3.30)

September 30, 2024

September 30, 2023

Description

Unit

Percentage

Unit

Percentage

Issued Share Capital

771,450,000

100%

771,450,000

100%

Substantial Shareholdings (5% and above)

Iwerebon Emeke Felix (Chief )(Direct)

92,636,547

12.01%

91,597,393

11.87%

Iwerebon Emeke Felix (Chief )(Indirect)

15,600,289

2.02%

15,400,289

2.00%

Mr Frederick Ijewere (Direct)

11,249,223

1.45%

11,249,223

1.45%

Mr Frederick Ijewere (Indirect)

36,825,730

4.77%

36,825,730

4.77%

Ade-Ajayi Jacob Festus (Prof)

42,429,847

5.50%

42,429,847

5.50%

Total Substantial Shareholdings

198,741,636

25.75%

197,502,482

25.59%

Directors' Shareholdings (direct and indirect),

excluding directors with substantial interests

Hajia Binta Bakari (Indirect)

21,878,696

2.84%

21,878,696

2.84%

Hajia Binta Bakari (direct)

140,365

0.02%

140,365

0.02%

Alhaji Bala Salisu Hassan(Direct)

200,500

0.03%

200,500

0.03%

Mr Gbolagunte Aiyedun(Direct)

200,000

0.03%

200,000

0.03%

Mrs Cordelia Isioma Ojeile(Direct)

181,017

0.02%

181,017

0.02%

Total Directors' Shareholdings

22,600,578

2.94%

22,600,578

2.94%

Other Influential Shareholdings

Ogundipe Phebean Ajibola

26,229,416

3.40%

26,229,416

3.40%

Iwerebon-Onwukwe Margaret

21,285,210

2.76%

21,285,210

2.76%

Estate of Adadevoh Babatunde Kwaku

20,571,908

2.67%

20,571,908

2.67%

Staff trust Scheme

17,858,938

2.31%

17,858,938

2.31%

Iloeje Nwadilibe Paul

15,456,131

2.00%

15,456,131

2.00%

Total Other Influential Shareholdings

101,401,603

13.14%

101,401,603

13.14%

Free Float in Units and Percentage

448,706,183

58.16%

449,945,337

58.32%

Free Float in Value

₦ 1,435,859,785.60

₦ 1,484,819,612.10