UNIVERSITY PRESS : QUARTER 1 - FINANCIAL STATEMENT FOR 2024

Apr -June

Apr -June

2023

2022

Notes

N'000

N'000

Revenue

1

275,778

202,432

Cost of sales

(106,496)

(82,296)

Gross profit

169,282

120,136

Other operating income

2

1,512

2,943

Marketing and Distribution expenses

(122,240)

(143,847)

Administrative expenses

(147,952)

(150,552)

Profit/(Loss) from continuing operations

(99,398)

(171,320)

Finance Income

2

3,847

6,669

Profit/(Loss) before taxation

(95,551)

(164,651)

Taxation Expense

-

-

Profit/(Loss) after tax from continuing operations

(95,551)

(164,651)

Total Comprehensive income

attributable to owners of the entity

(95,551)

(164,651)

Basic earnings per 50k share

(22k)

(38k)

Diluted earnings per 50k share

(22k)

(38k)

June

March

Assets

2023

2023

Non-current assets

Notes

N'000

N'000

Property, plant and equipment

4

1,497,058

1,530,103

Investment Property

365,500

365,500

1,862,558

1,895,603

Current assets

Inventories and work-in-progress

5

2,069,835

1,481,895

Trade receivables

6

59,930

32,540

Other receivables and prepayments

7

62,312

60,177

Cash and cash equivalents

15

27,892

765,876

Total current assets

2,219,969

2,340,488

Total assets

4,082,527

4,236,091

Equity and Liabilities

Current liabilities

Trade payables

8

150

7,867

Other payables and accruals

9

537,896

588,191

Unclaimed dividends

131,695

131,695

Current income tax liability

3

73,985

73,985

743,726

801,738

Non-Current liabilities

Deferred taxation

162,876

162,876

Total Liabilities

906,602

964,614

Net Assets

3,175,925

3,271,476

Equity

Share capital

10

215,705

215,705

Share premium

11

146,755

146,755

Capital reserve

12

1,442

1,442

Revaluation reserves

13

1,094,896

1,094,896

Revenue reserve

14

1,717,127

1,812,677

3,175,925

3,271,476

Mr. Obafunso Ogunkeye

Mr. S. Kolawole

Dr. G. A. Adebayo

Chairman

Managing Director

Executive Director (Finance)

FRC/2013/CITN/00000003567

FRC/2013/ICSAN/0000000324

FRC/2013/ICAN/ICAN/00000003250

PPE

Share

Share

Capital

revaluation

Revenue

Total

Capital

Premium

Reserve

Reserve

Reserve

Equity

N'000

N'000

N'000

N'000

N'000

N'000

Balance at 1 April 2022

215,705

146,755

1,442

1,094,896

1,713,533

3,172,331

Comprehensive income for the year

-

-

-

-

142,285

142,285

-

-

-

-

142,285

142,285

Other comprehensive income

Items that will not be reclassified subsequently

to profit or loss Revaluation gain net of tax

-

-

-

-

-

-

-

-

-

-

-

-

Total comprehensive income/(loss)

-

-

-

-

142,285

142,285

Transactions with owners:

Dividend paid

-

-

-

-

(43,141)

(43,141)

-

-

-

-

(43,141)

(43,141)

Balance at 31 March 2023

215,705

146,755

1,442

1,094,896

1,812,677

3,271,476

Balance at 1 April 2023

215,705

146,755

1,442

1,094,896

1,812,677

3,271,476

Loss for the period

-

-

-

-

(95,551)

(95,551)

Total comprehensive income/(loss)

-

-

-

-

(95,551)

(95,551)

Transactions with owners:

Dividend paid

-

-

-

-

-

-

-

-

-

-

-

-

Balance at 30 June 2023

215,705

146,755

1,442

1,094,896

1,717,126

3,175,925