ETranzact International : E-TRANZACT INTERNATIONAL PLC- QUARTER 2 - FINANCIAL STATEMENT FOR 2023

eTRANZACT INTERNATIONAL PLC

UNAUDITED FINANCIAL STATEMENTS

FOR THE SECOND QUARTER ENDED 30TH JUNE 2023

eTRANZACT INTERNATIONAL PLC

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

FOR THE SECOND QUARTER ENDED 30TH JUNE 2023

	Unaudited	Unaudited	Unaudited	Unaudited
			Q2 2023 (April -	Q2 2022 (April -
	6/30/2023	6/30/2022	June)	June)
	N'000	N'000	N'000	N'000
Continuing operations
Revenue	17,378,549	11,621,245	7,092,303	6,272,992
Cost of sales	(14,029,486)	(9,677,332)	(5,299,234)	(5,158,055)
Gross profit	3,349,063	1,943,914	1,793,068	1,114,936
Selling and Marketing costs	(82,805)	(63,113)	(20,336)	(40,556)
Administrative expenses	(1,905,535)	(1,404,218)	(1,070,014)	(747,979)
Operating profit	1,360,723	476,583	702,719	326,402
Other Income	1,242	-	1,242	-
Finance Cost	(12,928)	(11,009)	(6,307)	(5,393)
Investment income	148,476	135,642	99,009	39,357
Profit before tax	1,497,513	601,216	796,662	360,366
Taxation	(479,204)	(192,389)	(254,932)	(115,317)
Profit for the period	1,018,308	408,827	541,730	245,049

There is no other comprehensive income for the period, hence the profit for the period is equal to the total comprehensive income.

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eTRANZACT INTERNATIONAL PLC

STATEMENT OF FINANCIAL POSITION AS AT 30TH JUNE 2023
		Unaudited	Audited
		6/30/2023	12/31/2022
	Note	N'000	N'000
Non-current assets
Property, plant and equipment	1	1,579,088	992,747
Investment property	2	136,810	136,810
Intangible assets	3	73,160	95,568
Deposit for shares		456,755	456,755
Total non-current assets		2,245,813	1,681,880
Current assets
Inventories	6	2,360,185	3,086,557
Trade and other receivables	7	719,311	671,245
Other assets	5	2,984,354	2,833,561
Cash and cash equivalents	8	11,869,565	9,413,861
Total current assets		17,933,415	16,005,224
Total assets		20,179,228	17,687,104
Non-Current liabilities
Deferred Grant Income	10	90,396	90,396
Long term Loan	10	281,403	320,451
		371,799	410,847
Current liabilities
Trade and other payables	9	8,494,175	7,458,042
Current tax liabilities	11	1,019,119	542,387
Total current liabilities		9,513,294	8,000,429
Total liabilities		9,885,093	8,411,276
Equity
Share capital	12	4,600,000	4,600,000
Share premium account	13	7,374,272	7,374,272
Retained earnings	15	(1,680,137)	(2,698,444)
Total equity attributable to owners of the company	10,294,135	9,275,828
Total equity and Liabilities		20,179,228	17,687,104

The financial statements was approved by the Board of Directors on July 20, 2023 and signed on its behalf by:

…………………………	……………………………..
Mr Niyi Toluwalope	Mr Emmanuel Ogunji
Chief Executive Officer	Chief Financial Officer
FRC/2013/ICAN/00000002251	FRC/2014/ICAN/00000007266

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eTRANZACT INTERNATIONAL PLC

STATEMENT OF CHANGES IN EQUITY

FOR THE SECOND QUARTER ENDED 30TH JUNE 2023

		Share	Convertible	Retained
	Share capital	premium	Debenture	earnings	Total
	N'000	N'000	N'000	N'000	N'000
Balance at 1 January 2022	3,317,283	2,969,824	-	(3,873,416)	2,413,691
Additions through debenture issue	-	-	5,772,225	-	5,772,225
Issue Cost	-	-	(58,064)	-	(58,064)
Conversion of debenture to ordinary shares	1,282,717	4,431,444	(5,714,161)	-	-
Conversion Cost	-	(26,997)	-	-	(26,997)
Profit for the year	-	-	-	1,174,972	1,174,972
Other comprehensive income	-	-	-	-	-
Total comprehensive income	-	-	-	1,174,972	1,174,972
Balance at 31 December 2022	4,600,000	7,374,272	-	(2,698,444)	9,275,828
Balance at 1 January 2023	4,600,000	7,374,272	-	(2,698,444)	9,275,828
Profit for the period	-	-	-	1,018,308	1,018,308
Other comprehensive income for the period	-	-	-	-	-
Total comprehensive income	-	-	-	1,018,308	1,018,308
Balance at 30 June 2023	4,600,000	7,374,272	-	(1,680,136)	10,294,136

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eTRANZACT INTERNATIONAL PLC

CASHFLOW STATEMENT FOR THE SECOND QUARTER ENDED 30TH JUNE 2023

Cashflow from operating activities

Cash receipt from customers

Cash paid to suppliers and employees

Cash generated from operations

Income taxes paid

Net cash used in operating activities

Cashflow from investing activities Purchase of property, plant and equipment Additions to intangible assets

Interest received and similar income Interest on Loan

Proceeds from sale of Investment Property Proceeds from sale of Property, plant and equipment

Net cash used in investing activities

Cashflow from financing activities Net Proceeds from Debenture Issue Issue Cost

Conversion cost of debenture to ordinary shares Repayment of Loan Principal

Repayment of Interest on Loan Loan obtained

Net cash generated by financing activities

Net increase in cash and cash equivalents Effects of exchange rate on year end bank balances Cash and cash equivalents at beginning of year

Cash and cash equivalents at end of the period

	6/30/2023	12/31/2022
Note	N'000	N'000
	17,397,448	22,667,135
	(14,220,339)	(24,100,287)
	3,177,108	(1,433,152)
11	(2,472)	(110,905)
	3,174,637	(1,544,057)
1	(805,447)	(541,935)
3	-	(7,256)
	148,476	47,619
	(12,928)	(29,817)
	-	-
	2,942	400
	(666,957)	(530,989)
	-	5,772,225
	-	(58,064)
	-	(26,997)
	(35,714)	(71,429)
	(16,261)	(23,768)
10	-	-
	(51,976)	5,591,968
	2,455,704	3,516,922
	-	-
	9,413,861	5,896,939
8	11,869,565	9,413,861

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