Quarter 3 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 Q3

2023 Q3

2024 Q3

2024 Q3

APR - DEC

OCT -DEC

APR -DEC

OCT -DEC

N'000

N'000

NOTE

N'000

N'000

3,347,151

1,883,375

Revenue

1

4,923,716

3,522,553

(1,325,296)

(760,773)

Cost of sales

(2,176,376)

(1,593,209)

2,021,855

1,122,602

Gross profit

2,747,340

1,929,344

12,260

(3,984)

Other operating income

137,272

94,555

(379,742)

(132,581)

Selling and distribution costs

(516,293)

(220,339)

(794,318)

(278,052)

Administrative expenses

(1,175,222)

(635,597)

860,055

707,985

Operating Profit

1,193,097

1,167,963

(29,860)

(14,326)

Finance costs

(30,514)

(18,689)

9,691

4,471

Finance income

5,140

2,451

839,886

698,130

Profit before tax

1,167,723

1,151,725

(268,764)

(223,402)

Income tax

(373,671)

(368,872)

571,122

474,728

Profit for the Period

794,052

782,853

LEARN AFRICA PLC

STATEMENT OF FINANCIAL POSITION

2024

2024

DECEMBER

MARCH

DESCRIPTION

NOTE

N'000

N'000

Assets

Non- current assets

Property and equipment

2

477,091

543,160

Investment properties

345,000

345,000

Right of use assets

31,566

16,713

Intangible asset

16,923

11,997

Deferred tax asset

157,972

157,972

1,028,552

1,074,842

Current assets

Inventories

3

3,159,693

2,746,278

Trade and other receivables

4

1,476,017

510,021

Other current assets

5

62,121

42,671

Cash and short- term deposits

6

760,333

488,967

5,458,164

3,787,937

Total assets

6,486,716

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

2,008,628

1,214,577

Total equity

4,402,270

3,608,219

Current liabilities

Trade and other payables

7

1,557,071

1,003,637

Income tax payable

373,671

106,230

Provisions

8

153,704

144,694

Total Liabilities

2,084,446

1,254,561

Total equity and Liabilities

6,486,716

4,862,779

Alhaji Hassan Bala

Ojeile Cordelia (Mrs)

Managing Director

Finance Director

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

(FRC /2013/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 period

-

-

-

794,052

794,052

Dividend

-

-

-

-

-

As at December 2024

385,725

1,940,214

67,703

2,008,628

4,402,270

2024

2023

DEC.

DEC.

N'000

N'000

Operating activities

Cash generated from operations

380,192

(295,496)

Income tax paid

(53,601)

(214,319)

Net cash generated from operating activities

326,591

(509,815)

Investing activities

Interest received

5,140

9,691

Proceeds from sale of fixed assets

403

9,613

Purchase of fixed assets

(30,254)

(35,023)

Net cash used in investing activities

(24,711)

(15,719)

Financing activities

Interest paid

(30,514)

(29,860)

Dividend paid

-

(192,863)

Net cash used in financing activities

(30,514)

(222,723)

Net (decrease)/increase in cash and cash equivalents

271,366

(748,257)

Cash and cash equivalents at 1 April

488,967

1,055,716

Cash and cash equivalents at 31 December

760,333

307,459

2023 Q3

2023 Q3

2024 Q3

2024 Q3

APR -DEC

OCT - DEC APR - DEC OCT - DEC

N'000

N'000

N'000

N'000

HEAD OFFICE

484,045

-

899,546

707,936

NORTHERN ZONE

862,715

595,948

1,043,422

745,957

EASTERN ZONE

662,341

494,291

977,813

692,164

WESTERN ZONE

1,338,050

793,136

2,002,935

1,376,496

3,347,151

1,883,375

4,923,716

3,522,553

2. FIXED ASSETS

Leasehold

Leasehold

Furniture

Land

Land and

Plant &

Motor

and

Building

Machinery

Vehicles

Fittings

Hardware

Total

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

165,543

1,255,889

Additions

-

-

308

1,645

190

15,379

17,522

Disposals

-

-

-

(8,064)

-

(8,064)

As at 31st Dec. 2024

111,582

141,820

117,506

508,740

204,777

180,922

1,265,347

Depreciation

At 1 April 2024

-

67,752

84,675

270,010

164,874

125,411

712,722

Charge for the year

-

2,206

4,119

58,199

5,028

14,046

83,598

Disposals

-

-

(8,064)

-

-

(8,064)

As at 31st Dec. 2024

-

69,958

88,794

320,145

169,902

139,457

788,256

Net book value

As at 31st Dec. 2024

111,582

71,862

28,712

188,595

34,875

41,465

477,091

As at 31st March 2024

111,582

74,068

32,523

245,149

39,713

40,132

543,167

3. Inventories

2024

2024

DECEMBER

MARCH

N'000

N'000

Raw materials

14,858

294,787

Work in progress

9,571

44,339

Publications

2,986,703

2,393,503

Goods In Transit

148,561

13,649

TOTAL

3,159,693

2,746,278

4. Trade and other Receivables

2024

2024

DECEMBER

MARCH

N'000

N'000

Trade receivables

2,001,246

884,078

Less: impairment of doubtful receivables

(540,081)

(439,675)

Withholding tax recoverable

-

62,830

Staff Salary Advance

193

435

Other receivable

14,659

2,352

TOTAL

1,476,017

510,020

5. Prepayments

2024

2024

DECEMBER

MARCH

N'000

N'000

Current prepayments

62,121

42,671

62,121

42,671

6. cash and cash equivalents

2024

2024

DECEMBER

MARCH

N'000

N'000

Cash in hand

718,329

242,101

Cash at bank

42,004

246,865

760,333

488,966

7.Trade and other payables

2024

2024

DECEMBER

MARCH

N'000

N'000

Trade payables

354,470

142,606

Royalties

609,840

519,387

Withholding tax

34,871

26,066

Other payables

238,326

69,134

Unclaimed dividend

220,602

175,776

Sundry creditors

98,962

70,669

1,557,071

1,003,638

8. Provision

2024

2024

DECEMBER

MARCH

N'000

N'000

As at 1st April

144,694

139,469

Provision for the year

39,639

36,393

Provision for Contingent

Liabilities

114,067

114,067

Reversal of excess provision

(144,696)

(145,235)

153,704

144,694

Free Float Computation

Company Name:

Learn Africa Plc.

Board Listed:

Main Board

Year End:

March

Reporting Period:

Period Ended 31December 2024

Share Price at end of reporting period:

N4.5(2023: N3.19)

Shareholding Structure/Free Float Status

31-Dec-24

31-Dec-23

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 )

107,197,682

13.90%

105,895,265

13.73%

Mr Frederick Ijewere

48,074,954

6.23%

48,041,299

6.23%

Estate of Ade-Ajayi Jacob Festus (Prof)

42,429,847

5.50%

42,429,847

5.50%

Total Substantial Shareholdings

197,702,483

25.63%

196,366,411

25.45%

Directors' Shareholdings (direct and

indirect), excluding directors with

substantial interests

Hajia Binta Bakari (Indirect)

21,878,696

2.84%

22,016,696

2.85%

Hajia Binta Bakari (direct)

140,000

0.02%

140,000

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

22,600,213

2.93%

22,600,213

2.93%

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

449,745,701

58.47%

451,083,773

58.47%

Free Float in Value

₦ 2,023,855,654.50

₦ 1,438,950,855.87