SCOA NIGERIA PLC
[RC: 6293]
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30TH SEPTEMBER, 2023
SCOA NIGERIA PLC
UN-AUDITED STATEMENT OF COMPREHENSIVE INCOME FOR THE PERIOD July to 30th Sept , 2023
Unaudited | Audited | ||
Current Period | |||
Ended | Year Ended | % changes | |
July to | July to | ||
Sept,2023 | Sept,2022 | ||
N'000 | N'000 | ||
Revenue | (1,240,928.91) | 625,937.36 | (2.98) |
Cost of Sales | 90,635.62 | (501,841.66) | (1.18) |
Gross profit | (50,293.29) | 124,095.70 | (1.41) |
Distribution/Admin and Other Expenses | (886,227.73) | (497,946.21) | 0.78 |
Other Income | 513,297.30 | (158,853.77) | (4.23) |
Financial Charges | (101,202.60) | (175,910.62) | (0.42) |
Profit/Loss Before Tax | (524,426.30) | (708,614.90) | (0.26) |
Taxation | - | ||
Profit/Loss After Tax | (524,426.30) | (708,614.90) | (0.26) |
Other Comprehensive Income | |||
Total Comprehensive Income | (524,426.30) | (708,614.90) | (0.26) |
Profit/Loss After Tax Attr. To Noncontrolling Int | (141,780.10) | (371,236.95) | (0.62) |
Profit/Loss After Tax Owners of the Company | (382,646.22) | (337,377.93) | 0.13 |
Total Comp. Inc.Attr. to Non-Controlling Interest | |||
Attributable to Owners of the Company | |||
Basis/Diluted (loss) /Earnings per Share | (0.59) | (0.52) | |
SCOA NIGERIA PLC
UN-AUDITED STATEMENT OF COMPREHENSIVE INCOME FOR THE PERIOD 30TH SEPT, 2023
Unaudited | Audited |
Current Period | |||
Ended | Year Ended | % changes | |
30th sept,2023 | 30th Sept,2022 | ||
N'000 | N'000 | ||
Revenue | 2,191,202.76 | 3,017,624.87 | (0.27) |
Cost of Sales | (1,529,945.09) | (2,434,854.45) | (0.37) |
Gross profit | 661,257.67 | 582,770.42 | 0.13 |
Distribution/Admin Expenses | (1,564,925.90) | (1,217,357.66) | 0.29 |
Other Income | 575,139.09 | (8,741.77) | (66.79) |
Financial Charges | (386,016.32) | (460,752.86) | (0.16) |
Profit/Loss Before Tax | (714,555.45) | (1,104,081.87) | (0.35) |
Taxation | |||
Profit/Loss After Tax | (714,555.45) | (1,104,081.87) | (0.35) |
Other Comprehensive Income | |||
Total Comprehensive Income | (714,555.45) | (1,104,081.87) | (0.35) |
Profit/Loss After Tax Attr. To Noncontrol | (142,399.54) | (431,336.09) | (0.67) |
Profit/Loss After Tax Owners of the Com | (572,155.92) | (672,745.77) | (0.15) |
Total Comp. Inc.Attr. to Non-Controlling Interest | |||
Attributable to Owners of the Company | |||
Basis/Diluted (loss) /Earnings per Share | (0.88) | (1.04) | (0.15) |
SCOA NIGERIA PLC
UN-AUDITED STATEMENT OF FINANCIAL POSITION AS AT 30TH SEPTEMBER, 2023
Un-Audited | Audited | ||
Current Period Ended | Year Ended | % changes | |
30th Sept '23 | 31st Dec,2022 | ||
N'000 | N'000 | ||
Property, plant and equipment | 3,659,116.14 | 3,783,087.11 | 0.03 |
Deferred Tax Assets | 324,218.09 | 432,116.46 | 0.25 |
Investment in subsidiary / associates Cos. | |||
Total Non Current Assets | 3,983,334.23 | 4,215,203.57 | 0.06 |
Inventories | 3,193,167.67 | 2,351,764.85 | (0.36) |
Debtors and Other Receivables | 1,828,947.17 | 2,369,169.75 | 0.23 |
Other current assets | 384,028.10 | (186,869.55) | 3.06 |
Cash and cash equivalents | 4,357,928.72 | 8,005,033.79 | 0.46 |
Total Current Assets | 9,764,071.66 | 12,539,098.85 | 0.22 |
Advance from customer | 843,259.00 | 843,259.00 | - |
Trade and Other Payables | 7,299,142.54 | 9,441,054.38 | 0.23 |
Current Financial liabilities | 3,194,535.19 | 2,597,901.97 | (0.23) |
Current Tax Liabilities | 130,531.17 | 169,702.23 | 0.23 |
Total Current Liabilities | 11,467,467.91 | 13,051,917.69 | 0.12 |
Non-Current Financial liabilities | 987,571.16 | 989,571.16 | 0.00 |
Defined benefit Plan | 128,163.99 | 175,008.82 | 0.27 |
Deferred Tax Liabilities | |||
Liabilities included in disposal groups | |||
classified as held for sale (Where applicable) | |||
Total Non-Current Liabilities | 1,115,735.15 | 1,063,172.22 | (0.05) |
Working Capital | (1,703,396.24) | (512,818.83) | (2.32) |
Net Assets | 1,164,202.84 | 2,639,212.52 | 0.56 |
Non Controlling Interest | (450,037.46) | (545,117.36) | 0.17 |
Attributable to Owners of the Company | 1,614,240.30 | 3,184,329.88 | 0.49 |
These consolidated financial statements were approved by the Board of Directors on 27th of October, 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 30th Sept '23- (UN-AUDITED)
Issued & paid up Share | 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 2023 | 324,913.00 | 194,405.00 | (4,274,604.00) | 5,434,841.00 | 1,679,555.00 | 592,437.00 | 2,271,992.00 | (0.26) |
Prior year dividend approved | ||||||||
transfer to payables | ||||||||
Dividend | ||||||||
Profit/(loss) for the period / year | (572,155.92) | (542,155.92) | (142,399.54) | (714,555.46) | 0.17 | |||
Other comprehensive income/(loss) | ||||||||
Balance as of 30th Sept' 2023 | 324,913.00 | 194,405.00 | (4,846,759.92) | 5,434,841.00 | 1,137,399.08 | 450,037.46 | 1,557,436.54 | 0.85 |
Audited | ||||||||
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 | |
Dividend | ||||||||
Loss for the year | (587,179.00) | (587,179.00) | (4,216.00) | (591,395.00) | ||||
Adjustment to revaluated properties | - | - | ||||||
Other comprehensive income | - | - | 5,460.00 | 5,460.00 | 5,460.00 | |||
Balance as of 31st Dec, 2022 | 324,913.00 | 194,405.00 | (4,274,604.00) | 5,434,841.00 | 1,679,555.00 | 592,437.00 | 227,992.00 |
SCOA NIGERIA PLC
CASH FLOW STATEMENT FOR the period ended 30th Sept, 2023 ( Un-audited)
% | |||
Unaudited | Audited | Change | |
Current Period | |||
Ended | Year Ended | ||
30th Sept '23 | 31st Dec '22 | ||
N'000 | N'000 | ||
Cash Flow from Operating Profit-Activities | (714,555.45) | (585,935.00) | (0.22) |
Operating Cash Flow before Working Capital Changes | (1,652,737.44) | (373,228.00) | (3.43) |
Operating Cash Flow from Changes in Working Capital | (2,453,265.63) | (3,664,730.00) | 0.33 |
Net Cash Generated from Operating Activities | (4,820,558.52) | (4,623,893.00) | (0.04) |
Cash Flow from Investing Activities | (1,246,202.37) | 5,046.00 | 247.97 |
Cash Flow from Financing Activities | 2,244,987.06 | 408,442.00 | (4.50) |
Net Increase/Decrease Cash and Cash Equivalent | (3,821,773.83) | (4,210,405.00) | 0.09 |
Cash and Cash Equivalent Beginning of the Year | 8,179,445.00 | 12,389,850.00 | 0.34 |
Cash and Cash Equivalent End of the Year | 4,357,671.17 | 8,179,445.00 | 0.47 |
CORPORATE ACTION | |||
Proposed Bonus | |||
Proposed Dividend | |||
Closure Date | |||
Date of Payment | |||
AGM Date | |||
AGM Vanue |
SCOA NIGERIA PLC
NOTES TO THE Un-Audited STATEMENT of FINANCIAL POSITION AS AT
PERIOD ENDED 30th Sept, 2023 | |||
Un-Audited | Audited | ||
30th Sept, 2023 | 31st Dec,2022 | ||
=N='000 | =N='000 | ||
1 ) REVENUE : | |||
Analysis By class of Business: | |||
Autos | 1,397,108.55 | 162,471.26 | |
Equipment | 795,062.77 | 3,814,611.01 | |
Trading | |||
Construction | |||
2,192,171.32 | 3,977,082.27 | ||
2. Current Asset : Inventories /Stock: | |||
Raw Material and Consumables | 1,734,027.12 | 1,734,027.12 | |
Finished Goods | 1,105,495.00 | 1,105,495.00 | |
2,839,522.12 | 2,839,522.12 | ||
3) Current Assets: Trade & Other Receivables | |||
Trade Debtors | 1,828,947.17 | 2,369,169.75 | |
Prepayment & others receivables | 384,028.10 | (186,869.55) | |
Cash & Bank Balance | 4,357,928.72 | 8,005,033.79 | |
6,570,903.99 | 10,187,334.00 | ||
4) Current Liabilities : Trade & Other Payables | |||
Dividend Payable | |||
Trade and other payables | 7,299,142.54 | 9,339,646.61 | |
Taxation | 130,531.17 | 169,702.33 | |
Bank Overdraft | 77,228.71 | 77,228.71 | |
Interset Bearing Loan | 2,304,762.92 | 2,304,762.92 | |
9,811,665.34 | 11,891,340.58 | ||
5) Non Current Liabilities | |||
Interset Bearing Loan | 987,571.16 | 989,571.16 | |
Employee Benefit Liability - Gratuity | 128,163.99 | 175,008.82 | |
1,115,735.15 | 1,164,579.98 | ||
6. Call Up Share Capital | |||
Authorised: | |||
2 Billion Ordinary Shares of 50k Each | 1,000,000 | 1,000,000 | |
Alloted, Called Up and Fully Paid | |||
649.5 million Ordinary Shares of 50k each | 324,913 | 324,913 | |
FREE FLOAT COMPUTATION | |||
Company Name: | SCOA PLC | ||
Year End: | Sep-23 | ||
Reporting Period: | Q3, 2023 | ||
Share Price at end of reporting period: | N1.26 | ||
30/09/2023 | |||
Description | Units | Percentage (In relation to Issued Share Capital) | |
Issued Share Capital | 649,825,665 | 100% | |
Details of Substantial Shareholdings (5% and above) | |||
SCOA International S.A. | 443,489,031 | 68.25 | |
Total Substantial Shareholdings | 443,489,031 | 68.25 | |
Directors' Shareholdings (direct and indirect), excluding directors with substantial interests | |||
Mr. Henry agbamu | 137,843 | 0.02 | |
Dr, Massad Fares Boulos | 1,150 | 0.00 | |
Mrs. Sarah Boulos | 1,090 | 0.00 | |
Mr. Michel Zouhoah Fadoul | - | - | |
Alhaji Gambo Lawan | - | - | |
Prince Boniface Nwabuko | 2,500 | 0.00 | |
Hon. Magnus Onyibe | - | - | |
Mr. Amresh Shrivastava | - | - | |
Total Directors' Shareholdings | 142,583 | 0.02 | |
Influential Shareholdings | |||
Investra Limited | 6,465,757 | 0.99 | |
Top Limited | 11,562,500 | 1.78 | |
Bi-Tradex Limited | 9,534,232 | 1.47 | |
Krystall Limited | 11,250,000 | 1.73 | |
Laikeside Limited | 10,812,500 | 1.66 | |
Larbrisse Limited | 10,000,000 | 1.54 | |
Vinette Limited | 13,125,000 | 2.02 | |
Total Influential Shareholdings | 72,749,989 | 11.19 | |
Free Float in Units and Percentage | 133,444,062 | 20.54 | |
Free Float in Value | N168,139,518 | ||
Declaration: |
SCOA Plc with a free float value of N 168,139,518 as at 30, September 2023, is compliant with The Exchange's free float requirements for companies listed on the Main Board.with The Exchange's free float requirements for companies listed on the Main Board.
SECURITIES TRADING POLICY
In compliance with Rule 17.15 Disclosure of Dealings in Issuers' Shares, Rulebook of the Exchange 2015 (Issuers Rule) Scoa Nigeria Plc maintains a Security Trading Policy which guides Directors, Audit Committee members, employees and all individuals categorized as insiders as to their dealing in the Company's shares. The Policy undergoes periodic reviews by the Board and is updated accordingly. The Company has made specific inquiries of all its Directors and other insiders and is not aware of any infringement of the policy during the period.