And company plc.- year end - financial statement for 2024

STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2025

UNAUDITED

AUDITED RESULT FOR THE YEAR ENDED 31ST MARCH, 2024

AUDITED RESULT FOR THE YEAR ENDED 31ST MARCH, 2023

RESULT FOR THE

YEAR ENDED

31ST MARCH,

2025

N'000

N'000

N'000

ASSETS

NON-CURRENT ASSETS

PROPERTY PLANT & EQUIPMENTS ... Note 1

3,280,285

3,701,163

3,922,414

OTHER INTANGIBLE ASSETS

92,215

95,594

95,594

TOTAL NON CURRENT ASSETS

3,372,500

3,796,757

4,018,008

CURRENT ASSETS

INVENTORIES … 2

955,377

1,319,485

549,897

TRADE RECEIVABLE … 3

62,647

347,779

803,036

OTHER CURRENT ASSETS … 4

882,028

876,410

278,420

CASH AND CASH EQUIVALENTS … 5

5,980

1,759

12,733

TOTAL CURRENT ASSETS

1,906,031

2,545,433

1,644,086

TOTAL ASSETS

5,278,531

6,342,190

5,662,094

EQUITY ATTRIBUTABLE TO OWNERS OF THE COMPANY

SHARE CAPITAL

494,953

247,477

247,477

RETAINED EARNINGS

(1,143,284)

239,032

281,182

OTHER COMPONENTS OF EQUITY

71,644

319,121

319,121

EQUITY ATTRIBUTABLE TO OWNERS OF THE COMPANY

(576,686)

805,630

847,780

NON CONTROLLING INTEREST

-

-

419,578

TOTAL EQUITY

(576,686)

805,630

1,267,358

LIABILITY

NON CURRENT LIABILITIES

LONG TERM BORROWINGS

3,292,079

2,922,946

2,599,356

LONG TERM PROVISION

-

-

241,035

TOTAL NON CURRENT LIABILITIES

3,292,079

2,922,946

2,840,391

CURRENT LIABILITIES

TRADE & OTHER PAYABLE … 6

1,115,612

1,570,659

636,581

SHORT TERM BORROWINGS

1,300,146

976,628

820,614

CURRENT TAX PAYABLE

102,217

33,125

70,017

SHORT TERM PROVISIONS

45,164

33,203

27,134

TOTAL CURRENT LIABILITIES

2,563,139

2,613,615

1,554,346

TOTAL LIABILITIES

5,855,217

5,536,561

4,394,737

TOTAL EQUITY & LIABILITIES

5,278,531

6,342,191

5,662,095

IBRAHIM AKINTAN

CHIEF (MRS) ADEBIMPE GIWA

SAMUEL IDOWU AYININUOLA

HEAD OF FINANCE GROUP MANAGING DIRECTOR CHAIRMAN

FRC/2013/ICAN/00000002023

FRC/2020/002/00000022342

FRC/2016/ICAN/00000015248

N'000

N'000

N'000

N'000

N'000

TURNOVER … 7

357,558

629,717

1,822,909

2,202,687

3,176,489

COST OF SALES … 8

(394,369)

(414,363)

(1,539,380)

(1,392,094)

(2,448,732)

GROSS PROFIT

(36,811)

215,354

283,529

810,594

727,757

OTHER OPERATING INCOME

2,303

-

(8,437)

11

2,443

DISTRIBUTION & ADMINSTRATIVE EXPENSES … 9

(774,173)

(208,975)

(1,076,351)

(565,131)

(465,075)

OPERATING PROFIT

(808,681)

6,379

(801,259)

245,474

265,125

FINANCE COSTS

(167,806)

(110,731)

(571,554)

(227,460)

(83,045)

PROFIT/(LOSS) BEFORE TAXATION

(976,487)

(104,352)

(1,372,813)

18,013

182,080

TAXATION

(145)

3,149

(9,503)

(11,013)

(59,176)

PROFIT/(LOSS) AFTER TAXATION

(976,342)

(107,501)

(1,382,316)

7,000

122,904

TOTAL COMPREHENSIVE INCOME FOR THE YEAR NET OF TAX

(976,342)

(107,501)

(1,382,316)

7,000

122,904

EARNINGS PER SHARE [KOBO]

(197.26)

(21.72)

(279.28)

1.41

24.83

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR YEAR ENDED 31 MARCH 2025

THREE MONTHS JAN - MAR 2025

THREE MONTHS JAN - MAR 2024

UNAUDITED RESULT FOR THE YEAR ENDED 31ST MARCH,

2025

AUDITED RESULT FOR THE YEAR ENDED 31ST MARCH, 2024

AUDITED RESULT FOR THE YEAR ENDED 31ST MARCH, 2023

STATEMENT OF CASH FLOW FOR THE YEAR ENDED 31 MARCH 2025

UNAUDITED

AUDITED RESULT FOR THE YEAR ENDED 31ST MARCH, 2024

N'000

18,013

631,026

(386,518)

(255,483)

(10,975)

12,733

1,759

AUDITED RESULT FOR THE YEAR ENDED 31ST MARCH, 2023

N'000

182,080

939,672

853,271

(1,789,330)

3,613

9,120

12,733

RESULT FOR THE

YEAR ENDED

31ST MARCH,

2025

N'000

NET PROFIT BEFORE TAXATION

(1,382,316)

NET CASH GENERATED FROM OPERATING ACTIVITIES

(433,043)

CASH FLOW FROM FINANCING ACTIVITIES

369,133

CASH FLOW FROM INVESTING ACTIVITIES

68,131

NET (DECREASE)/INCREASE IN NET CASH & CASH EQUIVALENTS

4,221

CASH/BANK BALANCE AT THE BEGINNING OF THE PERIOD

1,759

CASH/BANK BALANCE AT THE END OF THE PERIOD

5,980

STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 MARCH 2025

Balance - 1 April 2023

EQUITY SHARES

REVALUATION RESERVE

CAPITAL RESERVE

RETAINED EARNINGS

TOTAL EQUITY

N'000 N'000 N'000 N'000 N'000

247,477 115,663 203,458 281,182 847,780

Profit or (loss) for year

-

-

-

7,000

7,000

Dividend Paid

-

-

-

(49,495)

(49,495)

Prior Year Adjustments

-

-

-

345

345

Balance - 31 March 2024

247,477

115,663

203,458

239,032

805,630

Profit or (loss) for year

-

-

-

(1,382,316)

(1,382,316)

Bonus shares

247,477

(115,663)

(131,814)

-

-

Balance - 31 March 2025

494,954

-

71,644

(1,143,284)

(576,686)

LAND & BUILDING

844,346

852,622

861,750

PLANT & MACHINERIES

2,379,782

2,734,283

2,964,870

OFFICE FURNITURE & FITTINGS

12,009

20,339

24,238

MOTOR VEHICLE

39,663

70,907

40,298

LOOSE TOOLS/LAB EQUIP

1,363

2,508

3,653

COMPUTERS/OFFICE EQUIPMETNS

3,121

20,504

27,605

3,280,285

3,701,163

3,922,414

2. INVENTORIES

RAW MATERIALS

889,448

350,949

315,902

WORK-IN-PROGRESS

15,483

17,374

17,374

FINISHED GOODS

23,973

73,111

73,590

RAW MATERIALS IN TRANSIT

25,813

877,440

142,428

DIESEL

660

611

603

955,377

1,319,485

549,897

3. TRADE RECEIVABLES

TRADE DEBTORS

62,647

340,244

792,684

OTHERS (GAMBBOU)

-

7,535

10,352

62,647

347,779

803,036

4. OTHER CURRENT ASSETS

STAFF LOANS

2,826

-

-

WITHHOLDING TAX

289,814

274,175

201,607

PREPAYMENTS

201,379

161,218

76,813

DEFERRED INTEREST

310,630

367,783

-

MACHINE SPARE / PARTS IN TRANSIT

77,379

73,234

-

882,028

876,410

278,420

5. CASH & CASH EQUIVALENTS

AT BANK

5,947

1,659

12,733

IN HAND

32

100

-

5,980

1,759

12,733

6. TRADE & OTHER PAYABLES TRADE CREDITORS

222,526

332,532

477,352

STAFF PENSION

65,867

32,395

12,030

UNCLAIMED DIVIDENDS

12,654

5,757 1,901

DEPOSIT BY CUSTOMERS

313,018

314,488

12,415

OTHER CREDITORS & ACCRUALS

501,546

885,487

132,883

1,115,612

1,570,659

636,581

7. TURNOVER

PRINTING SERVICES

631,763

1,254,454

1,751,622

PACKAGING

1,191,146

948,233

1,424,867

1,822,909

2,202,687

3,176,489

8. COST OF SALES

RAW MATERIALS CONSUMED

895,034

835,215

1,931,994

SALARIES & WAGES

127,290

110,792

84,785

REPAIR & MAINTENANCE

43,296

11,137

13,373

ELECTRICITY & POWER

119,226

76,037

147,426

TRANSPORT & TRAVELLING

3,173

8,129

14,117

PRINTING & STATIONERY

-

16,258

13,147

TELEX & TELEPHONE

-

4,065 2,500

POSTAGES & COURIER

-

12,194

9,496

DEPRECIATION

351,361

318,267

231,894

1,539,380

1,392,094

2,448,732

9. DISTRIBUTION & ADMIN EXPENSES

SALARIES & WAGES

138,409

125,244

95,724

DIRECTORS REMUNERATION

32,841

27,533

24,204

GRATUITY

13,477

7,570

27,083

PENSION CONTRIBUTION

18,684

14,565

11,017

POWER

38,820

36,835

37,709

REPAIRS & MAINTENANCE

12,807

16,604

8,226

DEPRECIATION & AMORTISATION

93,815

78,489

56,926

PROVISION FOR INVENTORY LOSS

200,000

GENERAL ADMIN EXPENSES

527,497

258,291

204,186

1,076,351

565,131

465,075

10. 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.

Tripple Gee & Company Plc

Company Name:

Tripple Gee & Company Plc

Board Listed

Main

Year End

March

Share Price at end of reporting period

N2.20 (2024: N4.13)

Shareholding Structure/Free Float Status

Description

31-Mar-25

31-Mar-24

Unit

%

Unit

%

Issued Share Capital

989,906,400

100%

494,953,200

100%

Substantial Shareholdings (5% and above)

Estate of Giwa Gani Gbade

328,875,644

33.22%

164,437,822

33.22%

Tigon Industries Ltd

111,297,594

11.24%

55,648,797

11.24%

An-Bos Oil Nigeria Ltd

88,455,626

8.94%

44,227,813

8.94%

Total Substantial Shareholdings

528,628,864

53.40%

264,314,432

53.40%

Directors' Shareholdings (direct and indirect), excluding directors with substantial interests

Chief (Mrs) Adebimpe Giwa (Indirect - Representing An-Bos Oil Nigerian Lt

--

--

--

--

Chief (Mrs) Adebimpe Giwa (Direct)

5,442,990

0.55%

2,721,495

0.55%

Mr Sam Idowu Ayininuola (Direct)

38,274,912

3.87%

19,137,456

3.87%

Total Directors' Shareholdings

43,717,902

4.42%

21,858,951

4.42%

Other Influential Shareholdings

0.00%

0.00%

0.00%

0.00%

Total Other Influential Shareholdings

0

0.00%

0

0.00%

Free Float in Units and Percentage

417,559,634

42.18%

208,779,817

42.18%

Free Float in Value

₦ 855,997,249.70

₦ 473,930,184.59

Declaration:

(A) Tripple Gee & Company Plc with a free float percentage of 42.18% as at 31 March 2025, is compliant with The Exchange's free float requirements for companies listed on the Main Board.

(B) Tripple Gee & Company Plc with a free float percentage of 42.18% as at 31 March 2024, is compliant with The Exchange's free float requirements for companies listed on the Main Board.

(i) Basis of Accounting

The Financial Statements have been prepared in compliance with International Financial Reporting Standards (IFRS) issued by International Accounting Standards Board. The Financial Statements are presented in the currency of Nigeria, Naira.

The preparation of financial statements in conformity with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the accounting policies.

(ii) Depreciation

Depreciation on Fixed Assets has been calculated on straight line basis based on useful life of each assets.

The rates used are as follows: -

%

Land

Nil

Building

2.5

Plant and Machinery

Motor Vehicle

25

Loose Tools/Lab Equipment

20

Furniture and Fittings

12.5

Computer

25

(iii) Inventories

Inventories are valued at lower of cost and net realizable value. Cost of finished goods comprise direct cost of production together with a proportion of production overhead appropriate to the condition of stock concerned.

(iv) Turnover

Turnover represents revenue from the sales of goods and services invoiced to the third parties during the period.

(v) Contingent Liabilities

In the opinion of the Directors no contingent liability exists.

(vi) Foreign currency transactions

Transactions in foreign currency are converted to Naira at the rate of exchange ruling at the date of the transaction.

(vii) Foreign currency translations

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 or loss account.