ABC TRANSPORT PLC

RC No 219970

Km 5 MCC Road, Umuoba, Uratta P.O. Box 2575, Owerri, Imo State, Nigeria Tel:083-300667,083-3006680805-3002000,083-9600958e-mail-info@abctransport.com

Directors:Prince Olumide Obayomi(Chairman);Kabiru Yusuf;Mr Bamidele Asije;

John Okoro; Jude Nneji; Frank Nneji(MD/CEO)

TABLE OF CONTENTS

CONSOLIDATED AND SEPARATE STATEMENT OF COMPREHENSIVE INCOME

1

CONSOLIDATED AND SEPARATE STATEMENT OF COMPREHENSIVE INCOME OCT-DEC 2021

2

CONSOLIDATED AND SEPARATE STATEMENT OF FINANCIAL POSITION

3

CONSOLIDATED AND SEPARATE STATEMENT OF CASH FLOW

4

CONSOLIDATED AND SEPARATE CHANGES IN EQUITY

5

CONSOLIDATED AND SEPARATE NOTE 1

6-7

CONSOLIDATED AND SEPARATE NOTES 2-21

8-13

SEGMENT REPORT

14-15

OTHER DISCLOSURES 1-18

16-20

ABC TRANSPORT PLC

CONSOLIDATED STATEMENT OF PROFIT OR LOSS

AND OTHER COMPREHENSIVE INCOME

FOR THE FOURTH QUATER ENDED 31 DECEMBER 2021

Group

Company

2021

2020

2021

2020

Continuing operations

Note

=N=000

=N=000

=N=000

=N=000

Revenue

14

6,811,559

7,593,123

4,457,505

3,585,070

Direct costs

16

(5,607,057)

(6,245,759)

(3,768,271)

(3,277,938)

Gross profit

1,204,502

1,347,364

689,234

307,132

Administrative expenses

17

(1,516,462)

(1,343,392)

(1,137,275)

(964,533)

(311,959)

3,972

(448,040)

(657,401)

Other operating income

15

52,424

37,749

43,761

19,925

Interest income

18

2,859

50,544

1

421

Investment income

Net fair value gains on financial assets

through profit or loss

853

5,710

853

5,710

Impairment losses

19

478,581

410,982

Other gains and losses

(106,769)

231,723

Finance costs

20

(186,559)

(253,479)

(152,002)

(193,964)

Profit/(loss) before income tax

36,199

(262,274)

(144,445)

(593,587)

Income tax expense

11.

(217,608)

(161,166)

(128,464)

(27,045)

(Loss)/profit from continuing operations

(181,409)

(423,440)

(272,909)

(620,632)

Attributable to:

(256,041)

(552,337)

(272,909)

(620,632)

Equity shareholders

Non-controlling interests

74,633

128,897

Other Comprehensive income:

(181,408)

(423,440)

(272,909)

(620,632)

Items that will not be reclassified

subsequently to profit or loss:

Remeasurement of defined benefit obligation

Items that may be reclassified

subsequently to profit or loss

Net exchange differences on translating

foreign operations

(9,184)

(6,070)

Other comprehensive income

(9,184)

(6,070)

Total comprehensive (loss)/income for the year

(190,592)

(429,510)

(272,909)

(620,632)

Attributable to:

(265,133)

(558,346)

(272,909)

(620,632)

Equity shareholders

Non-controlling interests

74,541

128,836

(190,592)

(429,510)

(272,909)

(620,632)

Basic and diluted (loss)/earnings per share (Kobo)

(10.94)

(26)

(16.46)

(37)

significant accounting policies form an integral

part of these consolidated financial statements.

1

ABC TRANSPORT PLC

CONSOLIDATED STATEMENT OF PROFIT OR LOSS

AND OTHER COMPREHENSIVE INCOME

FOR OCTOBER TO DECEMBER 2021

Group

Company

OCT-DEC

OCT-DEC

OCT-DEC

OCT-DEC

2021

2020

2021

2020

2021

2020

2021

2020

Continuing operations

Note

=N=000

=N=000

=N=000

=N=000

Revenue

14

2,353,374

2,700,474

1,208,692

1,084,632

Direct costs

16

(2,009,192)

(2,090,382)

(992,118)

(921,438)

Gross profit

344,182

610,092

216,574

163,194

Administrative expenses

17

(530,325)

(463,909)

(292,841)

(317,585)

Other operating income

15

(11,080)

4,706

(9,859)

2,455

Interest income

18

2,308

(768)

0

(5,637)

Investment income

Net fair value gains on financial assets

through profit or loss

300

5,710

300

5,710

Impairment losses

0

-

Other gains and losses

19

184,707

105,151

94,945

189,969

Finance costs

20

(56,109)

(58,204)

(44,109)

(47,292)

Profit/(loss) before income tax

(66,017)

202,777

(34,990)

(9,187)

Income tax expense

11.

(25,028)

(94,245)

(5,137)

(14,543)

(Loss)/profit from continuing operations

(91,045)

108,532

(40,127)

(23,730)

Attributable to:

(104,908)

35,261

(40,127)

(23,730)

Equity shareholders

Non-controlling interests

13,864

73,272

Other Comprehensive income:

(91,044)

108,533

(40,127)

(23,730)

Items that will not be reclassified

subsequently to profit or loss:

Remeasurement of defined benefit obligation

Items that may be reclassified

subsequently to profit or loss

Net exchange differences on translating

foreign operations

2,110

1,755

0

Other comprehensive income

2,110

1,755

Total comprehensive (loss)/income for the year

(88,934)

110,288

(40,127)

(23,730)

Attributable to:

(102,818)

36,999

(23,730)

Equity shareholders

Non-controlling interests

13,885

73,289

(88,934)

110,288

(40,127)

(23,730)

Basic and diluted (loss)/earnings per share (Kobo)

2

ABC TRANSPORT PLC

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

FOR THE FOURTH QUATER ENDED 31 DECEMBER 2019

Group

Company

2021

2020

2021

2,020

Note

=N=000

N'000

=N=000

=N=000

Non-current assets

1

2,994,555

2,218,264

2,629,559

Property, plant and equipment

3,268,809

Intangible assets

12

26,720

18,420

26,434

17,963

Investment in subsidiaries

41,470

41,470

Financial assets - FVOCI

1,845

1,845

1,845

1,845

Financial assets - FVPL

16,361

15,508

16,361

15,508

Other investments

59,864

59,864

59,864

59,864

Deferred tax asset

Total non-current assets

3,364,446

2,766,209

3,099,345

2,364,238

Current assets

219,174

219,174

Inventories

2

831,335

208,726

Trade and other receivables

4

931,320

562,577

(163,123)

104,004

Other assets

5

807,596

881,875

262,562

215,020

Cash and bank balances

6

716,858

541,463

85,317

113,186

Current Tax asset

377

377

Total current assets

2,675,324

2,817,626

403,930

640,935

Total assets

5,774,670

6,182,072

2,768,168

3,407,144

Equity and reserves

828,850

828,850

828,850

828,850

Issued share capital

Share premium

575,391

575,391

575,391

575,391

Retained earnings

(847,517)

(591,476)

(812,133)

(539,224)

Other comprehensive income reserve

(91,879)

(82,787)

18,188

18,188

Shareholder's fund

464,845

729,978

610,296

883,205

Non-controlling interests

452,897

378,356

Total equity and reserves

917,742

1,108,334

610,296

883,205

Non-current liabilities

10a

386,782

40,257

229,403

Loans and borrowings

229,403

Post employment benefits - defined benefits

13

171,927

224,597

168,981

221,711

Provisions

9

78,713

83,372

78,713

83,372

Deferred tax liabilities

12,098

12,098

Total non-current liabilities

649,519

549,470

287,950

534,486

Current liabilities

10b

575,489

508,467

358,810

Loans and borrowings

358,810

Post employment benefits - defined contribution

295,785

261,954

295,785

261,954

Current tax liabilities

11

348,743

235,455

128,464

37,164

Trade and other payables

7

2,627,889

3,264,719

705,151

1,048,660

Deferred income

8

24,894

140,689

24,894

20,224

Overdraft

334,609

262,642

207,163

262,642

Total current liabilities

4,207,407

4,524,268

1,869,922

1,989,453

Total Liabilities

4,207,407

5,073,738

1,869,922

2,523,939

Total equity and liabilities

5,774,669

6,182,072

2,768,168

3,407,144

The consolidated financial statements were approved by the Board of Directors on 27th January 2021 and signed on its

Prince Olumide Obayomi

Mr. Frank

Mr. Rex Okoro

Chairman

Managing Director/CEO

Chief Finance Officer

FRC/2014/00000009248

FRC/2015/00000011771

FRC/2014/ICAN/00000007350

The accompanying notes and statement

of significant accounting policies form an

3

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ABC Transport plc published this content on 30 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 January 2022 21:10:03 UTC.