CONDENSED UNAUDITED GROUP FINANCIAL STATEMENTS
MARCH 2022
CWG Plc and its subsidiaries
Interim condensed financial statements for the period ended March 31, 2022
Condensed Statement of Net Income For the period ended March 31, 2022
REMARKSGroup
Company
|
March 2022 |
March 2021 |
March 2022 |
March 2021 |
||
|
N’000 |
N’000 |
N’000 |
N’000 |
||
|
Revenue |
6i |
2,946,456 |
2,707,336 |
2,233,941 |
1,765,151 |
|
Cost of sales |
6ii |
(2,158,845) |
(2,077,614) |
(1,642,228) |
(1,297,529) |
|
Gross profit |
787 611 |
629 722 |
591 713 |
467,622 |
|
|
Other income |
3,384 |
4,881 |
3,051 |
1,420 |
|
|
Functionnary costs |
(564,316) |
(449,506) |
(440,016) |
(354,180) |
|
|
EBITDA |
226,679 |
185,097 |
154,748 |
114,862 |
|
|
Depreciation and amortization |
(68,218) |
(68,911) |
(61,955) |
(67,453) |
|
|
EBIT |
158,460 |
116 186 |
92,794 |
47,408 |
|
|
Interest and finance charges |
(10,403) |
(15,422) |
(8,032) |
(12,275) |
|
|
Profit / (Loss) before tax |
148,057 |
100,764 |
84,762 |
35 134 |
|
|
income tax expense |
(14,732) |
– |
(11,170) |
– |
|
|
Profit for the period |
133,325 |
100,764 |
73,592 |
35 134 |
CWG Plc and its subsidiaries
Interim condensed financial statements for the period ended March 31, 2022
Condensed Statement of Financial Position As at March 31, 2022
Group
Company
|
REMARKS |
December 2021 |
|
|
ASSETS |
N’000 |
|
|
Non-current assets |
||
|
Factory owned equipment |
7 |
445,661 |
|
Right-of-use asset |
8 |
68,992 |
|
intangible asset |
9 |
82,635 |
|
Investment in subsidiaries |
273 284 |
|
|
Financial asset valued at FVOCI |
18,364 |
|
|
Deferred tax assets |
||
|
888 936 |
||
|
Current assets |
||
|
Inventories |
ten |
511 737 |
|
Customers and other debtors |
11 |
5,255,722 |
|
Installments |
12 |
134,259 |
|
Cash and cash equivalents |
13 |
779 177 |
|
6,680,895 |
||
|
total assets |
7,569,831 |
|
|
Equity |
||
|
Share the capital |
14a |
1,262,413 |
|
Retained earnings |
14b |
(326,014) |
|
Reserve of available-for-sale financial assets |
10,972 |
|
|
Foreign currency conversion reserve |
||
|
947 371 |
||
|
Non-current liabilities |
||
|
Lease |
16 |
20 110 |
|
20 110 |
||
|
Current liabilities |
||
|
Suppliers and other creditors |
15 |
6,147,775 |
|
Rental liability |
16 |
25,083 |
|
Short-term loans and borrowings |
17 |
85,747 |
|
Income tax payable |
18 |
175,699 |
|
Contractual liability |
168,046 |
|
|
6,602,350 |
||
|
Total responsibilities |
6,622,460 |
|
|
Total equity and liabilities |
7,569,831 |
|
March 2022 N’000 453,773 71,326 63,605 218,558 4,234 |
March 2022 N’000 439,053 56,398 63,605 273,284 218,558 |
|
|
811 495 |
646,385 |
1,050,898 |
|
574,110 7,318,054 1,000,749 832,829 |
584 242 6 104 482 164 704 916 817 |
574 110 6 484 637 989 699 590 169 |
|
9,725,742 |
7,770,245 |
8,638,615 |
|
10,537,237 |
8,416,630 |
9,689,513 |
|
1,262,413 (19,869) 10,972 (99,780) |
1,262,413 (153,194) 10,972 (62,504) |
1,262,413 (252,422) 10,972 |
|
1,153,737 |
1,057,687 |
1,020,964 |
|
20 110 |
20 110 |
20 110 |
|
20 110 |
20 110 |
20 110 |
|
7,920,229 45,430 710 317 194 104 493,310 |
6,767,329 54,371 151,370 179,372 186,391 |
7,250,738 16,142 710 317 186,869 484 373 |
|
9,363,390 |
7,338,833 |
8,648,439 |
|
9,383,500 |
7,358,943 |
8,668,549 |
|
10,537,237 |
8,416,630 |
9,689,513 |
The accounts were approved by the Board of Directors on April 29, 2022 and were signed in its name by:Afolabi Sobande Chief Financial Officer FRC/2020/001/00000021960
Adewale Adeyipo Chief Executive Officer FRC/2019/IODN/00000019283
CWG Plc and its subsidiaries
Interim condensed financial statements for the period ended March 31, 2022
Condensed statement of changes in equity For the period ended March 31, 2022 Group
Share capital Issue premium Fair value reserveForeign currency conversion reserveRetained earningsTotalBalance at January 1, 2022 Profit for the year
The other extended result
Balance as of March 31, 2022
N’000 1,262,413
N’000 –N’000 10,972
N’000 (62,504)
(37,276)
(153,195)
133,325
N’000
N’000 1,057,686 133,325 (37,276)
1,262,413
–
10,972.00
(99,780)
(19,870)
1,153,735
Share capital Issue premium Fair value reserveForeign currency conversion reserveRetained earningsTotalBalance at January 1, 2021 Profit for the year
N’000 1,262,413
N’000 1,852,748
N’000 3,974
N’000 (103,345)
N’000
N’000
(2,455,583) 560,207
87 227 87 227
The other extended result Balance as of March 31, 2021
22,891 22,891
1,262,413
1,852,748
3,974
(80,454)
(2,368,356) 670,325
Company
Share the capitalShare the bountyFair value reserveRetained earningsTotalBalance at January 1, 2021 Profit for the year
N’000 1,262,413
N’000 1,852,748
N’000 3,974
N’000
N’000
(2,498,513) 620,622
26,308 26,308
Balance as of March 31, 2021
1,262,413
1,852,748
3,974
(2,472,205)
646 929
CWG Plc and its subsidiaries
Interim condensed financial statements for the period ended March 31, 2022
Condensed Statements of Cash Flows For the period ended March 31, 2022
|
Company |
||
|
March 2021 |
||
|
N’000 |
||
|
Cash flow from operating activities |
||
|
Profit before tax |
35 134 |
|
|
Depreciation of property, plant and equipment |
32,897 |
|
|
Amortization Asset right of use |
14,975 |
|
|
Amortization of intangible assets |
19,581 |
|
|
Financial cost |
12,275 |
|
|
Net exchange differences |
||
|
(Gain)/Loss on disposal of property, plant and equipment |
||
|
Change in working capital: |
||
|
Inventory changes |
(141,139) |
|
|
Changes in customers and other debtors |
(2,389,785) |
|
|
Down payment changes |
(433,852) |
|
|
Changes in Restricted Cash |
– |
|
|
Changes in suppliers and other creditors |
695 422 |
|
|
Changes in contractual liability |
1,438,425 |
|
|
Income tax paid |
– |
20,454.41 |
|
Net cash (used) from operating activities |
(736,521) |
|
|
Cash flow from investing activities |
||
|
Purchase of property, plant and equipment |
(13,142) |
|
|
Investment in the FVOCI instrument |
||
|
Proceeds from the sale of equipment |
||
|
Interest received |
– |
|
|
Net cash (used) from investing activities |
(13,142) |
|
|
Cash flow from financing activities |
||
|
Loan granted/(repayment) |
401 142 |
|
|
Interest payment |
(12,275) |
|
|
Lease repayment |
(20,367) |
|
|
Net cash (used) from financing activities |
368,500 |
|
|
Increase/ (decrease) in cash |
(381,163) |
|
|
Net exchange difference |
||
|
Cash and cash equivalents at the beginning of the period |
489 434 |
|
|
Cash and cash equivalents at the end of the period |
108,271 |
Group
|
March 2022 N’000 148,057 31,260 17,927 19,030 10,403 – (4,465) 10,132 (1,213,572) (836,045) (3,564) 1,152,901 306 919 – |
March 2022 N’000 84,762 30,330 12,594 19,030 8,032 (4,465) (62,373) (1,228,915) (855,440) (3,564) 1,102,964 316 327 – |
|
|
(361,016) (33,135) (200,194) 4,465 |
(948,543) (14,927) |
(580,717) (23,724) (200,194) 4,465 |
|
(228,864) 360,630 (10,403) (8,941) |
(14,927) 401,142 (15,422) (20,367) |
(219,453) 426 253 (8,032) (8,941) |
|
341,286 |
365 352 |
409 281 |
|
(248,594) (37,276) 909,877 |
(598,118) 22,891,824,989 |
(390,889) 772 237 |
|
624 008 |
249,762 |
381 348 |
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Warning
CWG plc published this content on April 29, 2022 and is solely responsible for the information contained therein. Distributed by Audienceunedited and unmodified, on April 30, 2022 00:43:13 UTC.
Public now 2022
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Evolution of the income statement
