Industrial and Medical Gases Nigeria : & MEDICAL GASES NIGERIA PLC- QUARTER 3 - 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 Equity

4

Notes to the Financial Statements

5 - 7

Un audited

Audited

Jan- Sept. 2022

Jan-Dec 2021

ASSETS

=N='000

=N='000

Non current assets

Property, plant and equipment

10

2,211,486

2,084,838

Right of Use Assets

-

-

Other tax assets

34,047

34,047

Prepayments and other assets

-

-

2,245,533

2,118,885

Current assets

Inventories

11

618,039

493,039

Trade debtors and other receivables

770,576

489,815

Prepayments

242,683

189,132

Other tax assets

382,787

287,856

Cash and cash equivalents

1,405,848

2,017,284

3,419,933

3,477,126

Total assets

5,665,465

5,596,011

Equity & liabilities

Equity

Share Capital

208,122

208,122

General reserve

3,204,004

2,844,517

Other reserves

436

436

Total Equity

3,412,563

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

457,590

325,394

Trade creditors

453,228

431,920

Other creditors & accruals

13

625,028

532,499

Provision

71,764

56,764

Contract liability

100,375

141,038

Dividend payable

133,333

133,333

Amount due to related companies

14

-

510,404

1,841,319

2,131,352

Total liabilities

2,252,903

2,542,936

Total equity and liabilities

5,665,465

5,596,011

IMG Nigeria Plc

QTR 3 FY 2022 Un audited Financial Statements

Industrial & Medical Gases Nigeria plc

Condensed statement of cash flows

Jan- Sept. 2022

Jan-Dec 2021

=N='000

=N='000

Cash flows from operating activities

Profit Before Income Tax

822,254

495,539

Adjustments for non-cash items:

Depreciation

210,647

270,012

Gain/loss from sales of fixed assets

28,846

(1,103)

Working capital changes:

Inventories

(125,000)

(60,137)

Trade and other receivables

(375,692)

(43,716)

Trade and other payables

21,308

178,307

Related companies accounts

(510,404)

-

Prepayments

(53,551)

137,106

Other current liabilities

66,867

51,718

Right of use

-

80,293

Lease liabilities

-

(108,600)

Income tax paid

(21,869)

(84,278)

Net cash from operating activities

63,405

915,141

Cash flows from investing activities

Purchase of fixed assets

(453,998)

(187,782)

Proceeds from sales of fixed assets

87,856

1,118

Interest received

45,820

62,794

Net cash from investing activities

(320,322)

(123,870)

Cash flows from financing activities

Dividend paid

-

(412,557)

Interest expense - lease

(354,520)

(4,782)

Net cash from financing activities

(354,520)

(417,339)

Net increase in cash and cash equivalent

(611,436)

373,932

Cash and cash equivalent at 1 January

2,017,284

1,643,352

Cash and cash equivalent at 31 December

1,405,848

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

359,488

359,488

Other Comprehensive Income

-

-

Transactions with shareholders:

Unclaimed dividend now statute barred

-

Dividends paid/declared

-

Balance at 30 September 2022

208,122

3,204,441

3,412,563

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