Group Financials

RED STAR EXPRESS PLC

2022/006

UNAUDITED FINANCIAL REPORT

FOR THE PERIOD ENDED 30TH SEPTEMBER, 2022

2022/009

RED STAR EXPRESS PLC

UNAUDITED FINANCIAL HIGHLIGHTS

FOR THE PERIOD ENDED 30TH SEPTEMBER, 2022

MAJOR STATEMENT OF COMPREHENSIVE INCOME ITEMS

THE GROUP

Current Period

Comparative Period

Interim Period

Year to Date

Interim Period

Year to Date

Jul'22 - Sep'22

Apr'22 - Sep'22

Jul'21 - Sep'21

Apr'21 - Sep'21

N'000

N'000

N'000

N'000

TURNOVER

3,605,365

6,846,186

3,118,031

5,928,266

PROFIT/LOSS BEFORE TAX

148,337

325,779

121,344

220,925

PROFIT/LOSS AFTER TAX

100,869

219,894

82,514

150,229

THE COMPANY

Current Period

Comparative Period

Interim Period

Year to Date

Interim Period

Year to Date

Jul'22 - Sep'22

Apr'22 - Sep'22

Jul'21 - Sep'21

Apr'21 - Sep'21

N' 000

N' 000

N' 000

N' 000

TURNOVER

1,922,302

3,791,588

1,755,650

3,469,260

PROFIT/LOSS BEFORE TAX

99,163

229,468

75,003

141,379

PROFIT/LOSS AFTER TAX

65,448

154,886

49,502

96,138

MAJOR STATEMENT OF FINANCIAL POSITION ITEMS

THE GROUP

THE COMPANY

Sep-22

Mar-22

Sep-22

Mar-22

N' 000

N' 000

N' 000

N' 000

TOTAL ASSETS

8,365,025

7,752,187

6,512,650

6,046,560

SHAREHOLDERS FUND

4,413,488

4,193,625

3,621,596

3,466,742

SHARE CAPITAL

477,211

477,211

477,211

477,211

SHARE PREMIUM

1,515,600

1,515,600

1,515,600

1,515,600

REVENUE RESERVE

2,419,515

2,199,653

1,627,623

1,472,769

INFORMATION PER 50 KOBO ORDINARY SHARE

THE GROUP

THE COMPANY

Sep-22

Mar-22

Sep-22

Mar-22

NO OF ORDINARY SHARES

954,423

954,423

954,423

954,423

NET ASSET (N)

4,414,490

4,193,625

3,621,596

3,466,742

EARNINGS PER SHARE (KOBO)

23

16

16

10

NET ASSET PER SHARE(KOBO)

463

439

379

363

RED STAR EXPRESS PLC

UNAUDITED CONSOLIDATED & SEPARATE

STATEMENT OF COMPREHENSIVE INCOME

FOR THE PERIOD ENDED 30TH SEPTEMBER, 2022

Note

Turnover

1

Cost of sales

3

Gross profit

Other income

2

Administrative and Other Operating

Expenses

4

Staff Gratuity

5

Depreciation & Amortisation

6

Impairment Loss

Effect of change in estimate useful

life of PPE

Total operating Expences

Finance Income

7

Finance Costs

7

Profit/Loss Before interest and Tax

Interest and similar charges Provision for diminution in investments

Profit/(Loss) Before Income Tax

Income Tax

8.1

Profit/(Loss) from continuing operation

Profit attributable to:

Owners of the company

Non controlling Interests

Profit for the period

Earnings per share

Basic earnings per share (kobo)

29

Diluted earnings per share (kobo)

Number of ordinary shares in

29

issue

The Group

The Company

Current Period

Comparative Period

Current Period

Comparative Period

Interim Period

Year to Date

Interim Period

Year to Date

Interim Period

Year to Date

Interim Period

Year to Date

Jul'22 - Sep'22

Apr'22 - Sep'22

Jul'21 - Sep'21

Apr'21 - Sep'21

Jul'22 - Sep'22

Apr'22 - Sep'22

Jul'21 - Sep'21

Apr'21 - Sep'21

N'000

N'000

N'000

N'000

N'000

N'000

N'000

N'000

3,605,365

6,846,186

3,118,031

5,928,266

1,922,302

3,791,588

1,755,650

3,469,260

(2,877,921)

(5,346,468)

(2,456,650)

(4,657,955)

(1,448,591)

(2,792,638)

(1,336,925)

(2,636,410)

727,444

1,499,718

661,380

1,270,311

473,711

998,950

418,725

832,850

38,670

38,704

16,297

18,795

28,356

28,391

16,010

17,179

766,114

1,538,422

677,678

1,289,106

502,067

1,027,341

434,735

850,029

(565,383)

(1,102,661)

(488,873)

(944,014)

(367,524)

(721,898)

(309,651)

(617,022)

(9,286)

(17,292)

(5,164)

(8,987)

(5,604)

(10,262)

(4,186)

(5,846)

(30,274)

(66,762)

(30,531)

(60,112)

(28,031)

(62,075)

(27,898)

(55,065)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(604,942)

(1,186,715)

(524,568)

(1,013,113)

(401,158)

(794,235)

(341,734)

(677,933)

2

3

1,142

1,142

2

3

919

919

(12,836)

(25,932)

(32,908)

(56,213)

(1,748)

(3,641)

(18,917)

(31,636)

148,337

325,779

121,344

220,925

99,163

229,468

75,003

141,379

-

-

-

-

-

-

-

-

148,337

325,779

121,344

220,925

99,163

229,468

75,003

141,379

(47,468)

(105,885)

(38,830)

(70,696)

(33,716)

(74,582)

(25,501)

(45,241)

100,869

219,894

82,514

150,229

65,448

154,886

49,502

96,138

100,869

219,894

82,514

150,229

65,448

154,886

49,502

96,138

-

-

-

-

-

-

-

-

100,869

219,894

82,514

150,229

65,448

154,886

49,502

96,138

23

16

16

10

954,423

954,423

954,423

954,423

RED STAR EXPRESS PLC

1999001

1999001

UNAUDITED CONSOLIDATED & SEPARATE STATEMENT

2023/006

2023/006

OF FINANCIAL POSITION

AS AT 30th SEPTEMPER, 2022

The Group

The Company

Jun-22

Mar-22

Jun-22

Mar-22

Note

N'000

N'000

N'000

ASSETS

Non Current Assets

Property Plant and |Equipments

9

3,076,792

2,848,652

1,596,796

1,260,569

Intangible Assets

10

38,305

45,349

38,305

45,016

Right Of Use of Assets

11

162,678

185,891

85,832

109,046

Long Term Prepayments

15

388,669

235,186

62,848

3,085

Equity instrument at fair value through OCI

11.1

1,696

1,696

1,696

1,696

Investment in subsidiary

11.2

-

-

1,153,065

1,153,065

Employee Benefit asset

16,286

16,286

Total Non Current Assets

3,668,139

3,333,060

2,938,542

2,588,763

Current Assets

Inventories

12

116,493

91,707

Trade debtors

13

2,500,403

2,369,244

Other receivables

14

1,495,224

1,419,259

Current prepayments

15

75,514

78,574

Due from related company

28

Cash and cash equivalents

16

509,253

460,343

Total Current Assets

4,696,887

4,419,128

TOTAL ASSETS

8,365,025

7,752,187

EQUITY AND LIABILITIES

LIABILITIES

Non-current liabilities

Deferred taxation

18

139,419

139,419

Provision for liabilities and charges

Finance Lease Obligation

57,653

68,472

Interest bearing loans and borrowings

231,356

274,774

Employee Benefit

3,286

Total Non Current Liabilities

431,714

482,665

Current liabilities

Trade creditors

1,115,843

1,086,998

Other creditors and accruals

17

1,814,463

1,630,479

Due to related companies

28

4,826

Finance Lease Obligation

18,099

21,495

Income tax liabilities

8.2

482,368

227,526

Interest bearing loans and borrowings

88,049

104,573

Total Current Liabilities

3,518,822

3,075,897

TOTAL LIABILITIES

3,950,535

3,558,562

106,68582,755

1,065,421 1,391,920

700,675 676,482

98,25449,675

1,155,851 907,426

447,223 349,539

3,574,108 3,457,797

6,512,650 6,046,560

35,020

35,020

50,359

47,544

-

-

7,266

92,645

82,564

1,092,398

1,074,752

1,330,027

1,232,886

40,149

4,826

22,321

21,495

313,515

163,296

2,798,409

2,497,255

2,891,054

2,579,819

Equity

Share capital

19

477,211

477,211

477,211

477,211

Share premium

1,515,600

1,515,600

1,515,600

1,515,600

Retained Earnings

2,419,515

2,199,653

1,627,623

1,472,769

Fair value of equity instrument designated at FVOCI

1,161

1,161

1,161

1,161

Total Equity

4,413,488

4,193,625

3,621,596

3,466,742

TOTAL EQUITY AND LIABILITIES

8,364,025

7,752,187

6,512,650

6,046,560

The consolidated and separate financial statements were approved by the Board on the 24 of October, 2022 and signed on its behalf by:

Babura Auwalu Badamasi

Onyibo Valentine

Managing Director/CEO

Chief Financial Officer

FRC/2016/ICAN/00000014402

FRC/2013/ICAN/00000003908

RED STAR EXPRESS PLC

UNAUDITED CONSOLIDATED & SEPARATE STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD ENDED 30TH SEPTEMBER, 2022

The Group

The Company

Fair Value of

Fair Value of

Equity

Equity

Instrument

Instrument

Issued

designated at

Issued

Retained

designated at

Capital

Share Premium

Retained Earnings

FVOCI

Total

Capital

Share Premium

Earnings

FVOCI

Total

N'000

N'000

N'000

N'000

N'000

N'000

N'000

N'000

N'000

N'000

As at 1st April 2022

477,211

1,515,600

2,199,653

1,161

4,193,626

As at 1st April 2022

477,211

1,515,600

1,472,769

1,161

3,466,742

Profit for the year

219,894

219,894

Profit for the year

154,886

154,886

Other comprehensive income:

-

Other comprehensive income:

-

Re-measurement gain/(loss) on

Re-measurement gain/(loss) on

defined benefit plan

-

defined benefit plan

-

Dividend

-

-

Dividend

-

-

Addition in the year

-

-

(32)

(32)

Addition in the year

-

-

(32)

(32)

As at 30th September, 2022

477,211

1,515,600

2,419,515

1,161

4,413,488

As at 30th September, 2022

477,211

1,515,600

1,627,623

1,161

3,621,596

Consolidated Statement of Changes in Equity

Consolidated Statement of Changes in Equity

For the year ended 31 March 2021

Fair Value of

For the year ended 31 March 2021

Fair Value of

Equity

Equity

Instrument

Instrument

Issued

designated at

Issued

Retained

designated at

Capital

Share Premium

Retained Earnings

FVOCI

Total

Capital

Share Premium

Earnings

FVOCI

Total

N'000

N'000

N'000

N'000

N'000

N'000

N'000

N'000

N'000

N'000

As at 1st April 2021

463,176

1,437,001

2,330,978

1,794

4,232,949

As at 1st April 2021

463,176

1,437,001

1,568,728

1,794

3,470,699

Profit for the year

87,806

87,806

Profit for the year

123,173

123,173

Other comprehensive income:

-

Other comprehensive income:

-

Re-measurement gain/(loss) on

Re-measurement gain/(loss) on

defined benefit plan

(80,180)

(80,180)

defined benefit plan

(80,180)

(80,180)

Bonus Issue

14,036

78,600

(92,634)

1

Bonus Issue

14,036

78,600

(92,634)

Fair Value of Equity Instrument

Fair Value of Equity Instrument

designated at FVOCI

(633)

(633)

designated at FVOCI

-

(633)

(633)

Dividend

(46,318)

(46,318)

Dividend

(46,318)

(46,318)

As at 31st March, 2022

477,212

1,515,601

2,199,653

1,161

4,193,625

As at 31st March, 2022

477,212

1,515,601

1,472,769

1,161

3,466,742

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Red Star Express plc published this content on 27 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 October 2022 07:53:06 UTC.