CONOIL PLC UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
30 JUNE 2023
.
FINANCIAL STATEMENTS | |
FOR THE PERIOD ENDED 30 JUNE 2023 | |
Contents | Page |
Corporate information | 3 |
Results at a glance | 4 |
Statement of directors' responsibilities | 5 |
Statement of directors' certification | 6 |
Statement of securities trading policy | 7 |
Statement of free trade rules status | 8 |
Statement of profit or loss and other comprehensive income | 9 |
Statement of financial position | 10 |
Statement of changes in equity | 11 |
Statement of cashflows | 12 |
Notes to the financial statements | 13-49 |
Statement of value added | 50 |
CONOIL PLC | 2023 FINANCIAL STATEMENTS |
RC: 7288 | 2 |
CORPORATE INFORMATION | |||
Directors: | Dr. Mike Adenuga (Jr), GCON | - | Chairman |
Mr. Kheterpal Hardeep Singh | - | Managing Director | |
Dr. Moses Ebietsuwa Omatsola | - | Director | |
Mr. Mike Jituboh | - | Director | |
Mr. Ike Oraekwuotu | - | Director | |
Engr Babatunde Okuyemi | - | Director | |
Mr. Joshua Ariyo | - | Director | |
Mr. Ademola Idowu | - | Director | |
Miss Abimbola Michael - Adenuga | - | Executive Director | |
Mr. Salam Ajani Ismail | - | Executive Director | |
Company Secretary: | Mr. Conrad Eberemu | ||
RC Number: | 7288 | ||
Registered Office: | Bull Plaza | ||
38/39 Marina | |||
Lagos | |||
www.conoilplc.com | |||
Auditors: | Nexia Agbo Abel & Co | ||
43 Anthony Enahoro Street | |||
Utako | |||
FCT Abuja. | |||
www.nexianigeria.com | |||
Registrars: | Meristem Registrars Limited | ||
213 Herbert Macaulay Way | |||
Adekunle | |||
Yaba | |||
Lagos | |||
www.meristemregistrars.com | |||
Bankers: | First Bank of Nigeria Limited | ||
Guaranty Trust Bank Plc | |||
Sterling Bank Plc | |||
United Bank for Africa Plc |
CONOIL PLC | 2023 FINANCIAL STATEMENTS |
RC: 7288 | 3 |
RESULTS AT A GLANCE | |||
June | |||
June | |||
2023 | 2022 | % | |
N'000 | N'000 | Change | |
Revenue | 87,143,611 | 56,248,085 | 54.9 |
Profit before taxation | 7,826,766 | 2,427,519 | 222.4 |
Taxation | (1,571,969) | (615,303) | 155.5 |
Profit for the period | 6,254,797 | 1,812,216 | 245.1 |
Retained earnings | 27,095,266 | 19,429,839 | 39.5 |
Share capital | 346,976 | 346,976 | - |
Shareholders' funds | 31,267,011 | 23,601,583 | 32.5 |
Per share data | |||
Earnings per share (kobo) | 901 | 261 | 245.1 |
Dividend per share (kobo) | - | - | #DIV/0! |
Net assets per share (kobo) | 4,506 | 3,401 | 32.5 |
CONOIL PLC | 2023 FINANCIAL STATEMENTS |
RC: 7288 | 4 |
STATEMENT OF DIRECTORS' RESPONSIBILITIES
FOR THE PERIOD ENDED 30 JUNE 2023
In conformity with the provisions of Section 377 of the Companies and Allied Matters Act 2020, the Directors are responsible for the preparation of the financial statements which give a true and fair view in accordance with International Financial Reporting Standards (IFRSs) and in the manner required by the Companies and Allied Matters Act, 2020. In doing so, they ensure that:
In preparing the financial statements, the Directors are responsible for:
- Proper accounting records are maintained;
- Applicable accounting standards are complied with;
- Suitable accounting policies are adopted and consistently applied;
- Judgments and estimates made are reasonable and prudent;
-
He going concern basis is used, unless it is inappropriate to presume that the Company will continue in business; and
Internal control procedures are instituted which, as far as is reasonably possible, safeguards the assets - and also prevents and detects fraud and other irregularities.
Going Concern
The Directors have made an assessment of the Company's ability to continue as a going concern and have no reason to believe the Company will not remain a going concern in the year ahead.
The financial statements of the Company for the period ended 30 June, 2023 were approved by the Directors on 28 July, 2023.
On behalf of the Directors of the Company
Mr. Salam Ismail Ajani | Dr. M. Ebietsuwa Omatsola | Mr. Kheterpal Hardeep Singh | ||
Finance Director | Director | Managing Director | ||
FRC/2018/ICAN/00000018798 | FRC/2013/COMEG/00000003735 | FRC/2018/NIM/00000018841 |
CONOIL PLC | 2023 FINANCIAL STATEMENTS |
RC: 7288 | 5 |
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Conoil plc published this content on 31 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 July 2023 09:50:02 UTC.
