SCOA Nigeria : S C O A NIGERIA PLC- QUARTER 1 - FINANCIAL STATEMENT FOR 2023

SCOA NIGERIA PLC

[RC: 6293]

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31ST MARCH, 2023

SCOA NIGERIA PLC

UN-AUDITED STATEMENT OF COMPREHENSIVE INCOME FOR THE PERIOD 31st March, 2023

Unaudited

Unaudited

	Current Period	Current Period	%
	Ended	Ended	changes
	31st Mar,2023	31st March,2022
	N'000	N'000
Revenue	1,473,106.97	1,362,601.02	0.08
Cost of Sales	(1,243,899.30)	(1,213,990.46)	0.02
Gross profit	229,207.67	148,610.57	0.54
Distribution/Admin Expenses	(356,082.86)	(345,236.21)	0.03
Other Income	37,085.85	(23,217.03)	(2.60)
Financial Charges	(94,990.70)	(96,761.10)	(0.02)
Profit/Loss Before Tax	(184,780.07)	(316,603.77)	(0.42)
Taxation
Profit/Loss After Tax	(184,780.07)	(316,603.77)	(0.42)
Other Comprehensive Income
Total Comprehensive Income	(184,780.07)	(316,603.77)	(0.42)
Profit/Loss After Tax Attr. To Noncontrollin	(82,810.45)	(38,601.80)	1.15
Profit/Loss After Tax Owners of the Compa	(101,969.62)	(278,001.98)	(0.63)
Total Comp. Inc.Attr. to Non-Controlling Interest
Attributable to Owners of the Company
Basis/Diluted (loss) /Earnings per Share	(0.16)	(0.43)	(0.64)

SCOA NIGERIA PLC

UN-AUDITED STATEMENT OF FINANCIAL POSITION AS AT 31ST MACH, 2023

	Un-Audited	Un-Audited
Current Period Ende urrent Period End % changes

	31st March '23	31st Dec,2022
	N'000	N'000
Property, plant and equipment	3,747,459.89	3,783,087.11	0.01
Deferred Tax Assets	324,218.09	432,116.46	0.25

Investment in subsidiary / associates Cos.
Total Non Current Assets	4,071,677.98	4,215,203.57	0.03
Inventories	1,464,174.97	2,351,764.85	0.38
Debtors and Other Receivables	1,194,538.66	2,369,169.75	0.50
Other current assets	384,685.55	(186,869.55)	3.06
Cash and cash equivalents	8,351,219.97	8,005,033.79	(0.04)
Total Current Assets	11,394,619.16	12,539,098.85	0.09
Advance from customer	843,259.00	843,259.00
Trade and Other Payables	9,111,864.79	9,441,054.38	(0.03)
Current Financial liabilities	2,919,845.81	2,597,901.97	(0.12)
Current Tax Liabilities	185,520.98	169,702.23	(0.09)
Total Current Liabilities	13,060,490.58	13,051,917.69	-
Non-Current Financial liabilities	989,571.16	989,571.16	-
Defined benefit Plan	132,613.23	175,008.82	0.24
Deferred Tax Liabilities
Liabilities included in disposal
groups classified as held for
sale (Where applicable)
Total Non-Current Liabilities	1,122,184.39	1,063,172.22	(0.06)
Working Capital	(1,665,871.42)	(512,818.83)	(2.25)
Net Assets	1,283,622.18	2,639,212.52	0.51
Non Controlling Interest	(458,484.11)	(545,117.36)	0.16
Attributable to Owners of the Co	1,742,106.29	3,184,329.88	0.45

These consolidated financial statements were approved by the Board of Directors on 31st Of April, 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 31st March '23- (UN-AUDITED)

Issued & paid up Share C	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			(101,969.62)		(101,969.62)	(82,810.45)	(184,780.07)	(2.20)
Other comprehensive
income/(loss)
Balance as of 31st March' 2023	324,913.00	194,405.00	(4,376,573.62)	5,434,841.00	1,577,585.38	509,626.55	2,087,211.93	(0.09)
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	2,271,992.00

SCOA NIGERIA PLC

CASH FLOW STATEMENT FOR the period ended 31st Mar, 2023 ( Un-audited)
	Current Period	Current Period	%
	Ended	Ended	Change
	31st Mar,2023	31st Dec,2022
	N'000	N'000
Cash Flow from Operating Profit-Activities	(184,780.07)	(585,935.00)	0.68
Operating Cash Flow before Working Capital Changes	(2,417,864.05)	(373,228.00)	(5.48)
Operating Cash Flow from Changes in Working Capital	1,777,190.18	(3,664,730.00)	1.48
Net Cash Generated from Operating Activities	(825,453.94)	(4,623,893.00)	0.82
Cash Flow from Investing Activities	(1,266,094.39)	5,046.00	251.91
Cash Flow from Financing Activities	2,263,323.30	408,442.00	(4.54)
Net Increase/Decrease Cash and Cash Equivalent	171,774.97	(4,210,405.00)	1.04
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	8,351,219.97	8,179,445.00	(0.02)
CORPORATE ACTION
Proposed Bonus
Proposed Dividend
Closure Date
Date of Payment
AGM Date
AGM Vanue