TANTALIZERS : QUARTER 3 - FINANCIAL STATEMENT FOR 2022

NOTES

Year to

Year to

01 July 2022

01 July 2021

30th. September 2022

30th. September 2021

30 September 2022

30 September 2021

N

N

N

N

SYSTEM REVENUE

1

1,850,235,112

1,756,532,121

569,288,518

423,519,230

TANTALIZERS NET REVENUE

887,492,524

935,146,126

268,387,678

319,365,947

Cost of sales

(579,595,408)

(571,284,703)

(182,428,875)

(185,863,891)

Gross Profit for the year

307,897,116

363,861,423

85,958,803

133,502,056

Other Incomes

2

412,108,194

241,982,708

182,872,083

25,788,528

Distribution costs

3

(28,299,695)

3,554,281

(19,621,553)

3,104,730

Write-Backs

4

-

-

-

-

Expected Credit loss

-

-

-

-

Administrative Expenses

(628,231,250)

(740,844,958)

(221,430,075)

(278,726,294)

Operating Profit/ Loss

63,474,366

(131,446,546)

27,779,259

(116,330,980)

Finance Income

4,199,759

7,251,923

-

7,251,923

Finance costs

5

(55,896,648)

(56,227,644)

(18,221,571)

(13,738,935)

Net finance cost

(51,696,889)

(48,975,721)

(18,221,571)

(6,487,012)

Profit/Loss before Tax

11,777,477

(180,422,267)

9,557,688

(122,817,992)

Taxation

Profit/Loss after Taxation transferred

to Revenue Reserve

11,777,477

(180,422,268)

9,557,688

(122,817,993)

Earnings per share (basic)

3K

(6K)

3K

(4K)

Earnings per share(diluted)

3K

(6K)

3K

(4K)

Ordinary Share

Capital

Share Premium Revaluation Reserve

Retained Deficit

Total

₦

₦

₦

₦

₦

At 1 January, 2022

1,605,813,953

2,071,077,399

70,717,089

(3,697,761,861)

49,846,580

Profit for the Year

-

-

-

11,777,477

11,777,477

Movement in Revaluation Reserve

-

-

(14,924,571)

-

(14,924,571)

At 30th September, 2022

1,605,813,953

2,071,077,399

55,792,518

(3,685,984,384)

46,699,487

At 1 January, 2021

1,605,813,953

2,071,077,399

94,792,024

(3,482,940,281)

288,743,095

Loss for the Year

-

-

-

(180,422,267)

(180,422,267)

Movement in Revaluation Reserve

-

-

(20,014,328)

-

(20,014,328)

At 30th September, 2021

1,605,813,953

2,071,077,399

74,777,696

(3,663,362,548)

88,306,500

Sep-22

Dec-21

CASH FLOW FROM OPERATING ACTIVITIES:

N

N

Cash received from customers

1,991,163,476

1,933,125,028

Cash paid to suppliers and employees

(1,988,398,007)

(2,022,213,839)

Tax paid

-

(8,671,614)

Interest paid

(55,896,648)

(73,415,889)

Net cash (used in)/generated from operating activities

(53,131,179)

(171,176,314)

CASH FLOW FROM INVESTING ACTIVITIES:

Interest Received

4,199,759

10,602,514

Short term Deposit

(50,000,000)

Purchase of Property, plant and equipment

(119,704,422)

(43,724,038)

Proceeds from disposal of Property, plant and equipment

170,000,000

468,959,000

Net cash used in investing activities

54,495,337

385,837,476

CASHFLOW FROM FINANCING ACTIVITIES:

Repayments of borrowings

(59,500,000)

(242,049,836)

Directors Loan

-

150,000,000

Net cash provided by financing activities

(59,500,000)

(92,049,836)

NET INCREASE/(DECREASE) IN

(58,135,842)

122,611,326

CASH & CASH EQUIVALENTS

Effect of Exchage Rate Changes

-

Cash & Cash Equivalents at beginning of the year

144,386,568

21,775,242

Cash & Cash Equivalents at year end 2018

86,250,726

144,386,568

REPRESENTED BY:-

Cash at Bank and in Hand

86,250,726

144,386,568

Bank Overdraft

-

-

Cash & Cash Equivalents

86,250,726

144,386,568