The Directors of Tripple Gee & company PLC are pleased
to announce the unaudited results of the company's operation for the first quarter ended 30th June, 2025.
UNAUDITED RESULT FOR THE FIRST QUARTER ENDED 30TH JUNE 2025 | ||||
STATEMENT OF FINANCIAL POSITION | ||||
FOR THE PERIOD | FOR THE PERIOD | AUDITED RESULT FOR THE YEAR | ||
ENDED 30TH JUNE, 2025 | ENDED 30TH JUNE, 2024 | ENDED 31ST MARCH, 2025 | ||
N'000 | N'000 | N'000 | ||
ASSETS | ||||
NON-CURRENT ASSETS | ||||
PROPERTY PLANT & EQUIPMENTS … Note 1 | 3,191,317.00 | 3,954,838.00 | 3,281,285.00 | |
OTHER INTANGIBLE ASSETS | 95,929.00 | 93,208.00 | 92,215.00 | |
INVESTMENTS IN ASSOCIATES | - | - | - | |
TOTAL NON CURRENT ASSETS | 3,287,246.00 | 4,048,046.00 | 3,373,500.00 | |
CURRENT ASSETS | ||||
INVENTORIES … 2 | 829,033.00 | 800,539.00 | 1,149,977.00 | |
TRADE RECEIVABLES … 3 | 47,745.00 | 125,566.00 | 65,528.00 | |
OTHER CURRENT ASSETS … 4 | 861,423.00 | 549,023.00 | 882,028.00 | |
CASH AND CASH EQUIVALENTS … 5 | 44,084.00 | 29,342.00 | 5,979.00 | |
TOTAL CURRENT ASSETS | 1,782,285.00 | 1,504,470.00 | 2,103,512.00 | |
TOTAL ASSETS | 5,069,531.00 | 5,552,516.00 | 5,477,012.00 | |
494,953.00 | 247,477.00 | 494,953.00 |
(1,260,590.00) | 126,355.00 | (1,154,898.00) |
71,644.00 | 319,121.00 | 71,644.00 |
(693,993.00) | 692,953.00 | (588,301.00) |
- | - | - |
(693,993.00) | 692,953.00 | (588,301.00) |
2,949,477.00 | 2,879,570.00 | 3,292,079.00 |
- | - | - |
2,949,477.00 | 2,879,570.00 | 3,292,079.00 |
787,511.00 | 891,141.00 | 1,139,618.00 |
1,603,089.00 | 997,000.00 | 1,277,120.00 |
149,346.00 | 47,004.00 | 245,165.00 |
274,101.00 | 44,848.00 | 111,331.00 |
2,814,047.00 | 1,979,993.00 | 2,773,234.00 |
5,763,524.00 | 4,859,563.00 | 6,065,313.00 |
5,069,531.00 | 5,552,516.00 | 5,477,012.00 |
EQUITY ATTRIBUTABLE TO OWNERS OF THE COMPANY SHARE CAPITAL
RETAINED EARNINGS
OTHER COMPONENTS OF EQUITY
EQUITY ATTRIBUTABLE TO OWNERS OF THE COMPANY NON CONTROLLING INTEREST
TOTAL EQUITY LIABILITY
NON CURRENT LIABILITIES LONG TERM BORROWINGS LONG TERM PROVISION
TOTAL NON CURRENT LIABILITIES CURRENT LIABILITIES
TRADE & OTHER PAYABLES … 6 SHORT TERM BORROWINGS CURRENT TAX PAYABLES SHORT TERM PROVISIONS TOTAL CURRENT LIABILITIES
TOTAL LIABILITIES
TOTAL EQUITY & LIABILITIES
The Financial Statement was approved by the Board of Directors on 22nd July, 2025 and signed on its behalf by;
MR. ADEWALE SONAIKE
MRS. ADEBIMPE GIWA
MR. SAMUEL IDOWU AYININUOLAAG. FINANCE DIRECTOR | GROUP MANAGING DIRECTOR | CHAIRMAN |
FRC/2013/ICAN/00000002781 | FRC/2020/002/00000022342 | FRC/2016/ICAN/00000015248 |
TURNOVER … 7 | 442,066.00 | 433,602.00 | 1,822,909.00 | 2% |
COST OF SALES … 8 | (302,609.00) | (329,227.00) | (1,736,380.00) | -8% |
GROSS PROFIT | 139,457.00 | 104,375.00 | 86,529.00 | 34% |
OTHER OPERATING INCOME | - | - | 17.00 | |
DISTRIBUTION & ADMINSTRATIVE EXPENSES … 9 | (167,373.00) | (142,901.00) | (889,154.00) | 17% |
OPERATING PROFIT | (27,916.00) | (38,526.00) | (802,608.00) | -28% |
INVESTMENT INCOME | - | - | - | |
GAIN/(LOSS) ON INVESTMENT | - | - | - | |
OTHER INCOME | 106.00 | - | (8,453.00) | |
EXCHANGE RATE DIFFERENCE | - | - | - | |
FINANCE COSTS | (77,882.00) | (74,150.00) | (573,754.00) | |
NET FINANCE COST/INCOME | (77,776.00) | (74,150.00) | (582,207.00) | |
PROFIT/(LOSS) BEFORE TAXATION | (105,692.00) | (112,676.00) | (1,384,815.00) | -6% |
TAXATION | (2,210.00) | (2,168.01) | (9,115.00) | |
PROFIT/ (LOSS) AFTER TAXATION | (107,902.00) | (114,844.01) | (1,393,930.00) | -6% |
EARNINGS PER SHARE [KOBO] | (21.80) | (23.20) | (140.81) | -6% |
STATEMENT OF CASH FLOW FOR 1ST QUARTER 2023 FINANCIAL YEAR | ||||
FOR THE PERIOD | FOR THE PERIOD | AUDITED RESULT FOR THE YEAR | ||
ENDED 30TH JUNE, 2025 | ENDED 30TH JUNE, 2024 | ENDED 31ST MAR, 2025 | ||
N'000 | N'000 | N'000 | ||
NET PROFIT BEFORE TAXATION | (105,692.00) | (112,676.00) | (1,376,362.00) | |
NET CASH GENERATED FROM OPERATING ACTIVITIES | 14,219.00 | (3,957.00) | (391,153.00) | |
CASH FLOW FROM FINANCING ACTIVITIES | 8,917.00 | 7,795.00 | 369,133.00 | |
CASH FLOW FROM INVESTING ACTIVITIES | 14,969.00 | 23,745.00 | 26,240.00 | |
NET (DECREASE)/INCREASE IN NET CASH & CASH EQUIVALENTS | 38,105.00 | 27,583.00 | 4,220.00 | |
CASH/BANK BALANCE AT THE BEGINNING OF THE PERIOD | 5,979.00 | 1,759.00 | 1,759.00 | |
CASH/BANK BALANCE AT THE END OF THE PERIOD | 44,084.00 | 29,342.00 | 5,979.00 | |
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
FOR THE PERIOD FOR THE PERIOD AUDITED RESULT ENDED 30TH JUNE, ENDED 30TH JUNE, FOR THE YEAR
2025 2024 ENDED 31ST MAR,
2025
N'000 N'000 N'000
% CHANGE
STATEMENT OF CHANGES IN EQUITY FOR 1ST QUARTER 2025 FINANCIAL YEAR | ||||||
Equity Shares | Revaluation Reserve | Capital Reserve | Retained Earnings | Total | ||
N'000 N'000 N'000 N'000 N'000
Balance - 1st April 2023 | 247,477 | 197,886 | 121,235 | 281,527 | 848,125 |
Comprehensive income for the period | |||||
Profit/(Loss) for the period ended March 31, 2024 | - | - | - | 7,000 | 7,000 |
Dividend Paid | - | - | - | (49,495) | (49,495.00) |
Balance - 1st April, 2024 | 247,477 | 197,886 | 121,235 | 239,032 | 805,630 |
Comprehensive income for the period | |||||
Bonus Issue | 247,477 | (197,886) | (121,235) | 0 | (71,644) |
Profit/(Loss) for the period ended June 30, 2024 | - | - | - | (112,676) | (112,676) |
Profit/(Loss) for the year ended March 31, 2025 | (1,209,610) | (1,209,610) | |||
Dividend Paid | - | - | - | - | - |
Balance - 31st March, 2025 | 494,954 | - | - | (1,083,254) | (588,300) |
Comprehensive income for the period
NOTES TO THE ACCOUNTS | ||||
FOR THE PERIOD | FOR THE PERIOD | AUDITED RESULT FOR THE YEAR | ||
ENDED 30TH JUNE, 2025 | ENDED 30TH JUNE, 2024 | ENDED 31ST MAR, 2025 | ||
N'000 | N'000 | N'000 | ||
PROPERTY, PLANT & EQUIPMENTS | ||||
LAND & BUILDING | 841,544.00 | 849,773.00 | 844,347.00 | |
PLANT & MACHINERIES | 2,301,989.00 | 3,001,593.00 | 2,382,157.00 | |
OFFICE FURNITURE & FITTINGS | 14,946.00 | 19,248.00 | 13,634.00 | |
MOTOR VEHICLE | 31,636.00 | 63,714.00 | 39,663.00 | |
LOOSE TOOLS/LAB EQUIP | 1,081.00 | 2,222.00 | 1,363.00 | |
COMPUTERS/OFFICE EQUIPMETNS | 121.00 | 18,288.00 | 121.00 | |
3,191,317.00 | 3,954,838.00 | 3,281,285.00 | ||
INVENTORIES | ||||
RAW MATERIALS | 646,595.00 | 600,367.00 | 981,402.00 | |
SEMI FINISHED GOODS | 17,374.00 | 17,374.00 | 17,374.00 | |
FINISHED GOODS | 83,457.00 | 78,841.00 | 83,457.00 | |
SPARE PARTS/STATIONERIES | - | - | - | |
RAW MATERIALS IN TRANSIT | 67,651.00 | 103,614.00 | 66,699.00 | |
DIESEL | 13,956.00 | 343.00 | 1,045.00 | |
829,033.00 | 800,539.00 | 1,149,977.00 | ||
TRADE RECEIVABLES | ||||
TRADE DEBTORS | 47,745.00 | 125,566.00 | 65,527.00 | |
OTHERS (GAMBBOU) | - | - | - | |
47,745.00 | 125,566.00 | 65,527.00 | ||
OTHER CURRENT ASSETS | ||||
STAFF LOANS | - | - | ||
WITHHOLDING TAX | 290,030.00 | 278,679.00 | 289,814.00 | |
PREPAYMENTS | 185,170.00 | 60,708.00 | 204,204.00 | |
PREPAID EXPENSES | - | |||
SPARES IN TRANSIT | - | 95,565.00 | 77,379.00 | |
MACHINES IN TRANSIT | 386,223.00 | 114,071.00 | 310,630.00 | |
861,423.00 | 549,023.00 | 882,027.00 | ||
Profit/(Loss) for the period ended June 30, 2025 (105,692) (105,692)
Balance - 30th June, 2025 | 494,954 | - | - | (1,188,946) | (693,992) |
1
2
3
4
44,084.00 - | 29,242.00 100.00 | 5,947.00 32.00 |
44,084.00 | 29,342.00 | 5,979.00 |
137,081.00 | 292,519.00 | 222,526.00 |
74,792.00 | 40,273.00 | 65,867.00 |
12,654.00 | 5,777.00 | 12,654.00 |
249,966.00 | 215,300.00 | 255,908.00 |
313,018.00 | 337,272.00 | 582,663.00 |
787,511.00 | 891,141.00 | 1,139,618.00 |
105,246.00 | 147,476.00 | 631,763.00 |
- | - | - |
336,820.00 | 286,126.00 | 1,191,146.00 |
- | - | - |
442,066.00 | 433,602.00 | 1,822,909.00 |
162,444.00 | 160,994.00 | 822,165.00 |
31,759.00 | 31,879.00 | 127,290.00 |
9,603.00 | 33,681.00 | 43,296.00 |
7,056.00 | 1,316.00 | 119,226.00 |
- | 200,000.00 | |
2,017.00 | 6,264.00 | 14,609.00 |
4,713.00 | 8,352.00 | 29,217.00 |
1,594.00 | 2,088.00 | 7,304.00 |
- | 4,176.00 | 21,913.00 |
83,423.00 | 80,477.00 | 351,361.00 |
302,609.00 | 329,227.00 | 1,736,381.00 |
38,810.00 | 40,970.00 | 171,227.00 |
8,437.00 | 4,250.00 | 27,641.00 |
3,384.00 | 1,893.00 | 13,477.00 |
4,958.00 | 4,377.00 | 18,684.00 |
12,331.00 | 11,231.00 | 47,409.00 |
7,312.00 | 7,221.00 | 23,718.00 |
17,788.00 | 19,584.00 | 92,815.00 |
74,353.00 | 53,375.00 | 494,183.00 |
167,373.00 | 142,901.00 | 889,154.00 |
5
CASH & CASH EQUIVALENTS AT BANK
IN HAND
6
TRADE & OTHER PAYABLES TRADE CREDITORS
STAFF PENSION UNCLAIMED DIVIDENDS
OTHER CREDITORS & ACCRUALS DEPOSIT BY CUSTOMERS
7
TURNOVER PRINTING SERVICES
OTHER PRINTING SERVICES PACKAGING
OTHER PACKAGING
8
COST OF SALES
RAW MATERIALS CONSUMED SALARIES & WAGES ELECTRICITY & POWER REPAIR & MAINTENANCE LOSS OF INVENTORY TRANSPORT & TRAVELLING PRINTING & STATIONERY TELEX & TELEPHONE POSTAGE & COURIER DEPRECIATION
9
DISTRIBUTION & ADMIN EXPENSES SALARIES & WAGES
DIRECTORS REMUNERATION GRATUITY
PENSION CONTRIBUTION POWER
REPAIRS & MAINTENANCE DEPRECIATION & AMORTISATION GENERAL ADMIN EXPENSES
SECURITY TRANSACTIONS BY DIRECTORS CONFIRMATION OF COMPLIANCE WITH PROVISIONS OF RULE17.15 (d)
We hereby affirm that, there is no contravention to the provision of Rule 17.15 (d) of the Rulebook of the Exchange, 2015. The company has adopted a code of conduct regarding securities transactions by its directors on terms no less exacting than the required standard set-out in these Rules. We have made specific enquiries from all our directors and thus confirms that there is full compliance with the required standards as set out in the listing rules and the issuer's code of conduct regarding securities transactions by the Directors.
SUM MARY OF ACCOUNTING PDLICIE5
Baeis of Accounting
The Financial Statements have been prepared in compliance with Interns onal Accounting Standards (IFRS) issued by International Accounting Standard Board. The Financial Statements are presented in tne currency of Nigeria, viz Naira.
The preparation of financial statements in conformity with IFRS requires tne use of certain crifical accounfing elmates. I t also requires management to exercise its judgement in the process of applying the accounfing policies.
Depreciation
Deoreci on on Fixed Assets has been cal culated on straight line basis based on useful life of each assets.
The rates used are as lollows: -
Land
Building
PIant and Machinery
Motor Vehicl e
Loose Tool s/Lab Equipment Furniture and Filngs Computer
2.5
10
25
20
12.5
Stocks
Stocks are valued at lower of cost and net realizable value. Cost of finished goods comprise direct cost of producfion together witn a oropolon of oroducfion overhead appropriate to the condifion of stock concerned.
Turnover
Turnover represents the orojected value of goods and services invoiced to the third parties during the period.
Contingent Liabilities
In the opinion of the Directors, no confingent liabili exists.
Exchanger Ratee
Transaction
Transacfions in foreign currency are converted to Naira at the rate of exchange ruling at the date of the transacfion.
Conversion
Balances in foreign currency at the period ended are converted to Naira at the rate of exchange ruling on that date. All differences arising from the conversion of balances in foreign currency to Naira are taken to the profit and loss account.