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 30TH JUNE, 2022
Jun, | Dec, | ||
ASSETS | 2022 | 2021 | |
NON CURRENT ASSETS | N'000 | N'000 | |
7,526,30 | |||
PROPERTY,PLANT & EQUIPMENT | 8 | 7,898,411 | |
OTHER INTANGIBLE ASSETS | 25,680 | 26,793 | |
INVESTMENT | 172,645 | 171,295 | |
2,796,08 | |||
DEFERRED TAX ASSETS | 7 | 2,796,087 | |
10,520,7 | 10,892,58 | ||
20 | 6 | ||
CURRENT ASSETS | |||
3,050,15 | |||
TRADE RECEIVABLES | 8 | 3,065,649 | |
OTHER DEBTORS & PREPAYMENTS | 3 | 98,894 | 157,839 |
CASH & CASH EQUIVALENTS | 4 | 162,373 | 85,049 |
3,311,42 | |||
TOTAL CURRENT ASSETS | 6 | 3,308,537 | |
13,832,1 | 14,201,12 | ||
TOTAL ASSETS | 46 | 3 | |
EQUITY AND LIABILITIES | |||
CAPITAL AND RESERVES | |||
4,000,00 | |||
SHARE CAPITAL | 5 | 0 | 4,000,000 |
13,411,5 | 13,411,54 | ||
SHARE PREMIUM | 41 | 1 | |
- | - | ||
14,745,4 | 14,504,24 | ||
RETAINED EARNINGS | 6 | 74 | 0 |
2,666,06 | |||
TOTAL EQUITY | 7 | 2,907,301 |
Non-Current Liabilities | ||||
Accrued Gratuity | 790,024 | 760,922 | ||
Total Non-Current Liabilities | 790,024 | 760,922 | ||
CURRENT LIABILITIES | ||||
SURBORDINATED LOAN | 414,695 | 649,485 | ||
1,154,39 | ||||
TRADE PAYABLES | 4 | 1,101,557 | ||
7,985,65 | ||||
OTHER PAYABLES | 7 | 6 | 7,960,548 | |
BANK OVERDRAFT | 8 | 0 | 0 | |
TAXATION | 9 | 821,311 | 821,311 | |
10,376,0 | 10,532,90 | |||
TOTAL CURRENT LIABILITIES | 55 | 0 | ||
13,832,1 | 14,201,12 | |||
TOTAL EQUITY AND LIABILITIES | 46 | 3 | ||
Check | ||||
error | 0 | -0 |
Dated 28th July, 2022
Tony A. Akiotu | Stanley Sagboje |
GMD/CEO | ED, Finance & Accounts/CFO |
FRC/2014/NIM/0000000895 | FRC/2016/ICAN/00000015580 |
DAAR COMMUNICATIONS PLC | ||||
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME | ||||
FOR THE QUARTER ENDED 30TH JUNE 2022 | ||||
Six | Three | Three | ||
mths to | mths to | Six mths | mths to | |
June. | June, | to June | June | |
2022 | 2022 | 2021 | 2021 | |
N'000 | N'000 | N'000 | N'000 | |
2,271,00 | 1,079,22 | |||
Revenue | 9 | 1 | 1,914,359 | 1,068,495 |
- | ||||
1,531,83 | - | |||
Cost of Sales | 6 | (833,773) | 1,076,695 | -561,233 |
Gross Profit | 739,173 | 245,448 | 837,664 | 507,262 |
Other Income | 57,658 | (22,734) | 16,762 | 8,012 |
796,831 | 222,715 | 854,425 | 515,274 | |
Selling Expenses | -30,619 | (14,281) | -46,725 | -12,692 |
Administration Expenses | -980,893 | (459,768) | -743,654 | -307,917 |
Finance Charges | -25,869 | (8,429) | -27,919 | -13,946 |
PROFIT BEFORE TAXATION | -240,550 | (259,763) | 36,127 | 180,718 |
TAXATION | 0 | - | 0 | 0 |
PROFIT/(LOSS) FOR THE YEAR | -240,550 | (259,763) | 36,127 | 180,718 |
EPS in kobo | -3 | (3) | 0 | 2 |
DAAR COMMUNICATIONS PLC | ||||
STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED JUNE 30, 2022 | ||||
SHARE | SHARE | RETAINE | ||
CAPITA | PREMIU | D | ||
L | M | INCOME | TOTAL | |
N'000 | N'000 | N'000 | N'000 | |
- | ||||
4,000,00 | 13,411,5 | 14,504,92 | ||
BAL B/F | 0 | 41 | 4 | 2,906,617 |
PROFIT FOR THE PERIOD TO JUNE | 0 | 0 | -240,550 | -240,550 |
- | ||||
4,000,00 | 13,411,5 | 14,745,47 | ||
BALANCE AS AT JUNE 2022 | 0 | 41 | 4 | 2,666,067 |
DAAR COMMUNICATIONS PLC | ||||
STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED JUNE 30, 2021 | ||||
SHARE | SHARE | RETAINE | ||
CAPITA | PREMIU | D | ||
L | M | INCOME | TOTAL | |
N'000 | N'000 | N'000 | N'000 | |
- | ||||
4,000,00 | 13,411,5 | 13,770,77 | ||
BAL B/F | 0 | 41 | 6 | 3,640,765 |
PROFIT FOR THE PERIOD TO JUNE | 0 | 0 | 36,127 | 36,127 |
- | ||||
4,000,00 | 13,411,5 | 13,734,64 | ||
BALANCE AS AT JUNE 2021 | 0 | 41 | 9 | 3,676,892 |
DAAR COMMUNICATIONS PLC | |||
STATEMENT OF CASH FLOWS | |||
FOR THE PERIOD ENDED 30TH JUNE, 2022 | |||
June 30, | Dec. 31, | ||
2022 | 2021 | ||
Cash flow from operating activities: | N'000 | N'000 | |
Profit/(Loss) before taxation | -182,892 | -641,942 | |
Add back items not involving movement of funds: | |||
Depreciation | 409,239 | 834,733 | |
Amortisation | 1,113 | 2,234 | |
Adjustment for Tax | 0 | 419,618 | |
Write down of deferred Tax assets | 913,423 | ||
Prior year adjustment | -684 | 0 | |
Impairment allowance on receivable | |||
Finance cost | 25,869 | 42,069 | |
Other income | -57,658 | 0 | |
Finance income | 0 | 0 | |
Gratuity | 29,101 | 28,288 | |
224,088 | 1,598,423 | ||
Working capital changes: | |||
(Increase) /Decrease in Trade Receivables | 15,489 | -645,366 | |
(Increase)/Decrease in Other Receivables and prepayments | 58,945 | -28,095 | |
(Increase)/Decrease in Stocks | 0 | 0 | |
Increase/(Decrease) in Trade and other payables | 77,945 | -47,985 | |
152,378 | -721,446 | ||
Tax Paid | 0 | -166,975 | |
Net cash from operating activities | 376,466 | 710,002 | |
Cash flows from investing activities: | |||
(Purchase)/Sale of fixed assets | -37,134 | -246,679 | |
Investment in MTS | -1,350 | -5,123 | |
(Increase)/Decrease in intangible assets | 0 | -0 | |
Net cash used in investing | -38,484 | -251,802 | |
Cash flows from financing activities: | |||
Bank loan received | 0 | 0 | |
Bank loan repaid | 0 | 0 | |
Surbordinated Loan Repaid | -234,790 | -389,646 | |
Finance cost | -25,869 | -42,069 | |
Net Cash used in financing activities | -260,659 | -431,715 | |
Net(decrease)/increase in cash and cash equivalent | 77,323 | 26,486 | |
Cash and cash equivalents at 1 January | 85,049 | 58,563 | |
Cash and cash equivalents at 30th June | 162,373 | 85,049 | |
Represented by: | |||
Bank and cash balances | 162,373 | 85,049 | |
Bank Overdraft | 0 | 0 |
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DAAR Communications plc published this content on 28 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2022 22:23:01 UTC.
