DAAR COMMUNICATIONS PLC Address: No.1 Ladi Lawal Drive, Kpaduma Hills, Off Gen. T. Y. Danjuma Street, Asokoro, Abuja.
_____________________________________________________________ DAAR COMMUNICATIONS PLC
STATEMENT OF FINANCIAL POSITION AS AT 31ST MARCH, 2022
Mar, | Dec, | |
ASSETS | 2022 | 2021 |
NON CURRENT ASSETS | N'000 | N'000 |
7,637,28 | 7,898,41 | |
PROPERTY,PLANT & EQUIPMENT | 1 | 2 |
OTHER INTANGIBLE ASSETS | 26,236 | 26,793 |
INVESTMENT | 171,795 | 171,295 |
2,796,08 | 2,796,08 | |
DEFERRED TAX ASSETS | 7 | 7 |
10,631,3 | 10,892,5 | |
99 | 87 | |
CURRENT ASSETS | ||
3,170,98 | 3,065,64 | |
TRADE RECEIVABLES | 4 | 9 |
137,199 | 157,839 | |
88,476 | 85,049 | |
3,396,65 | 3,308,53 | |
9 | 7 | |
14,028,0 | 14,201,1 | |
58 | 24 | |
4,000,00 | 4,000,00 | |
0 | 0 | |
13,411,5 | 13,411,5 | |
41 | 41 | |
- | - | |
14,485,0 | 14,504,2 | |
27 | 40 | |
2,926,51 | 2,907,30 | |
4 | 1 | |
778,534 | 760,922 | |
778,534 | 760,922 |
OTHER DEBTORS & PREPAYMENTS 3
CASH & CASH EQUIVALENTS 4
TOTAL CURRENT ASSETS
TOTAL ASSETS
EQUITY AND LIABILITIES CAPITAL AND RESERVES
SHARE CAPITAL 5
SHARE PREMIUM
RETAINED EARNINGS 6
TOTAL EQUITY
Non-Current Liabilities Accrued Gratuity
Total Non-Current Liabilities
CURRENT LIABILITIES SURBORDINATED LOAN
TRADE PAYABLES
OTHER PAYABLES TAXATION
TOTAL CURRENT LIABILITIES
TOTAL EQUITY AND LIABILITIES
Dated 29th April, 2022
Tony A. Akiotu
GMD/CEO FRC/2014/NIM/0000000895
524,585
649,485
1,202,49
6
1,101,55
7
7,867,73
7 9
3
7,960,04
8
728,195
821,810
10,323,0
10,532,9
09 14,028,0 58
00 14,201,1 23
Stanley Sagboje
ED, Finance & Accounts/CFO FRC/2016/ICAN/00000015580
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE QUARTER ENDED 31ST MARCH 2022
Three | Three | |
mths to | mths to | |
Mar. | Mar. | |
2022 | 2021 | |
N'000 | N'000 | |
1,191,78 | ||
Revenue | 8 | 845,864 |
(698,064 | ||
Cost of Sales | ) | -515,462 |
Gross Profit | 493,725 | 330,402 |
Other Income | 80,392 | 8,750 |
574,116 | 339,152 | |
Selling Expenses | (16,339) | -34,033 |
(521,125 | ||
Administration Expenses | ) | -435,737 |
Finance Charges | (17,439) | -13,973 |
PROFIT BEFORE TAXATION | 19,213 | -144,591 |
TAXATION | - | 0 |
PROFIT/(LOSS) FOR THE YEAR | 19,213 | -144,591 |
EPS in kobo | 24 | -181 |
STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED MARCH 31, 2022
BAL B/F
PROFIT FOR THE PERIOD TO MARCH
SHARE
CAPITA
L
N'000
4,000,00
0 0
4,000,00
BALANCE AS AT MARCH. 2022 0
DAAR COMMUNICATIONS PLC
STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED MARCH 31, 2021
BAL B/F
PROFIT FOR THE PERIOD TO MARCH
BALANCE AS AT MARCH. 2021
RETAINSHARE PREMIU
M N'000
ED INCOM
E N'000
13,411,5
- 14,504,2
41 40
0 19,213 -
13,411,5 41
14,485,0 27
RETAIN
CAPITA
SHARE
L
0 0
SHARE PREMIU
N'000
M N'000
ED INCOM
E N'000
4,000,00
13,411,5
- 13,350,6
41 58
TOTAL N'000
2,907,30 1 19,213
2,926,51 4
TOTAL N'000
0 274,605 -
4,060,88 3 274,605
4,000,00 0
13,411,5 41
13,076,0 54
4,335,48 7
DAAR COMMUNICATIONS PLC STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 31ST MARCH, 2022
Mar. 31, | Dec. 31, | |
2022 | 2021 | |
Cash flow from operating activities | N'000 | N'000 |
Profit/(Loss) before taxation | 99,605 | -641,942 |
Add back items not involving movement of funds | ||
Depreciation | 204,620 | 834,733 |
Amortisation | 557 | 2,234 |
Write down of deferred Tax assets | 913,423 | |
Prior year adjustment/Additional Tax | 500 | 420,118 |
Impairment allowance on receivable | ||
Finance cost | 17,439 | 42,069 |
Other income | -80,392 | 0 |
Gratuity | 17,612 | 28,288 |
1,598,92 | ||
259,941 | 3 | |
Working capital changes | ||
(Increase) /Decrease in Trade Receivables | -105,334 | -645,366 |
(Increase)/Decrease in Other Receivables and prepayments | 20,640 | -28,095 |
Increase/(Decrease) in Trade and other payables | 8,880 | -48,485 |
-75,814 | -721,946 | |
Tax Paid | 0 | -166,975 |
Net cash from operating activities | 184,127 | 752,430 |
Cash flows from investing activities | ||
(Purchase)/Sale of fixed assets | -37,861 | -246,679 |
Investment in MTS | -500 | -5,123 |
Net cash used in investing | -38,361 | -251,802 |
Cash flows from financing activities | ||
Surbordinated Loan Repaid | -124,900 | -389,646 |
Finance cost | -17,439 | -42,069 |
Net Cash used in financing activities | -142,339 | -431,715 |
Net(decrease)/increase in cash and cash equivalent | 3,427 | 26,487 |
Cash and cash equivalents at 1 January | 85,049 | 58,563 |
Cash and cash equivalents at 31st March | 88,476 | 85,049 |
Represented by: | ||
Bank and cash balances | 88,476 | 85,049 |
Cash and cash equivalents at 31st March | 88,476 | 85,049 |
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DAAR Communications plc published this content on 30 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 April 2022 07:46:02 UTC.
