Industrial and Medical Gases Nigeria : & MEDICAL GASES NIGERIA PLC- QUARTER 2 - FINANCIAL STATEMENT FOR 2022

CONTENT PAGE

Page

Statement of Profit or Loss and Other Comprehensive Income

1

Statement of Financial Position

2

Statement of Cash Flows

3

Statement of Changes in Equity

4

Notes to the financial statements

5-7

Free float computation

8

IMG Nigeria Plc

QTR 2 FY 2022 Un audited Financial Statements

Industrial & Medical Gases Nigeria plc

Condensed statement of financial position

Un audited

Audited

Jan-Jun 2022

Jan-Dec 2021

ASSETS

=N='000

=N='000

Non current assets

Property, plant and equipment

10

2,133,666

2,084,838

Right of Use Assets

-

-

Other tax assets

102,151

34,047

Prepayments and other assets

-

-

2,235,817

2,118,885

Current assets

Inventories

11

638,662

493,039

Trade debtors and other receivables

736,577

489,815

Prepayments

215,094

189,132

Other tax assets

287,856

287,856

Cash and cash equivalents

1,550,922

2,017,284

3,429,111

3,477,126

Total assets

5,664,928

5,596,011

Equity & liabilities

Equity

Share Capital

208,122

208,122

General reserve

3,113,317

2,844,517

Other reserves

436

436

Total Equity

3,321,875

3,053,075

Non current liabilities

Employee benefit liability

12

19,925

19,925

Lease Liabilities

-

-

Deferred tax liabilities

391,659

391,659

411,584

411,584

Current liabilities

Current tax liabilities

430,434

325,394

Trade creditors

511,883

431,920

Other creditors & accruals

13

650,485

532,499

Lease Liabilities

-

-

Provision

56,764

56,764

Contract liability

148,571

141,038

Dividend payable

133,333

133,333

Amount due to related companies

14

-

510,404

1,931,469

2,131,352

Total liabilities

2,343,053

2,542,936

Total equity and liabilities

5,664,928

5,596,011

Condensed statement of cash flows

Jan-Jun 2022

Jan-Dec 2021

=N='000

=N='000

Cash flows from operating activities

Profit Before Income Tax

462,212

495,539

Adjustments for non-cash items:

Depreciation

138,853

270,012

Gain/loss from sales of fixed assets

24,223

(1,103)

Working capital changes:

Inventories

(145,623)

(60,137)

Trade and other receivables

(314,866)

(43,716)

Trade and other payables

79,963

178,307

Related companies accounts

(510,404)

-

Prepayments

(25,962)

137,106

Other current liabilities

125,519

51,718

Right of use

-

80,293

Lease liabilities

-

(108,600)

Income tax paid

(21,869)

(84,278)

Net cash from operating activities

(187,955)

915,141

Cash flows from investing activities

Purchase of fixed assets

(299,760)

(187,782)

Proceeds from sales of fixed assets

87,856

1,118

Interest received

39,980

62,794

Net cash from investing activities

(171,925)

(123,870)

Cash flows from financing activities

Dividend paid

-

(412,557)

Unpaid dividend received

-

-

Interest expense - lease

(106,483)

(4,782)

Net cash from financing activities

(106,483)

(417,339)

Net (decrease)/increase in cash and cash equivalent

(466,362)

373,932

Cash and cash equivalent at 1 January

2,017,284

1,643,352

Cash and cash equivalent at 31 December

1,550,922

2,017,284

Share capital

Retained earnings

Total equity

Balance at 1 January

=N='000

=N='000

=N='000

Balance at 1 January 2022

208,122

2,844,953

3,053,075

Profit for the period

268,799

268,799

Other Comprehensive Income

-

-

Transactions with shareholders:

Unclaimed dividend now statute barred

-

Dividends paid/declared

-

Balance at 30 June 2022

208,122

3,113,752

3,321,874

Balance at 1 January 2021

208,122

2,671,118

2,879,240

Profit for the period

372,019

372,019

Other Comprehensive Income- Actuarial gain

436

436

Transactions with shareholders:

Unclaimed dividend now statute barred

9,502

9,502

Dividends paid/declared

(208,122)

(208,122)

Balance at 31 December 2021

208,122

2,844,953

3,053,075