FIDSON HEALTHCARE : QUARTER 4 - FINANCIAL STATEMENT FOR 2021

FIDSON HEALTHCARE PLC Lagos, Nigeria

UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2021

FIDSON HEALTHCARE PLC

Unaudited report and financial statements

For the period ended 31 December 2021

Table of Contents
Statement of Profit or Loss and Other Comprehensive Income ...........................................................................	1
Statement of financial position .............................................................................................................................	2
Statement of Changes in Equity ............................................................................................................................	3
Statement of Cash Flows .......................................................................................................................................	4
Notes to the financial statements. ........................................................................................................................	5

FIDSON HEALTHCARE PLC

Unaudited report and financial statements

For the period ended 31 December 2021

Statement of Profit or Loss and Other Comprehensive Income

FOR THE YEAR ENDED 30 JUNE 2020		2021		2020
		Oct-Dec	Jan-Dec		Oct-Dec	Jan-Dec
	Notes	₦'000	₦'000		₦'000	₦'000
Revenue	5	8,990,841	30,743,450	4,628,398	18,275,856
Cost of sales	6	(4,930,469)	(15,757,782)	(2,800,998)	(9,694,516)
Gross profit		4,060,372	14,985,669	1,827,400	8,581,340
Other operating income	7	161,124	573,187	139,677	349,745
Administrative expenses	8	(1,949,934)	(6,423,490)	(1,010,193)	(3,734,059)
Selling and distribution expenses	9	(845,581)	(3,421,283)	(239,533)	(2,099,537)
Operating profit		1,425,982	5,714,083	717,350	3,097,489
Finance costs	10	(336,269)	(1,263,620)	(382,546)	(1,333,927)
Finance income	11	19,764	77,718	2,135	9,240
Profit before tax	12	1,109,476	4,528,181	336,939	1,772,802
Income tax provision	13a	(355,032)	(1,449,018)	(108,287)	(567,763)
Profit for the Period		754,444	3,079,163	228,652	1,205,039
Other comprehensive income: (OCI)
Items to be reclassified to profit or loss in subsequent years:
Fair value profit on available for sale
financial instruments	34		70	-	1,240.00
Net other comprehensive income to be reclassified to profit or loss		-	70	-	1,240.00
Items not to be reclassified to
profit or loss in subsequent years:			20,011			36838
Re- measurement gain on defined benefit plans	26	-	(6,004)	-	(11,051)
Income tax effect	13c	-	14,007	-	25,787
Net other comprehensive income not to be reclassified		-	14,077	-	27,027
to profit or loss
Other comprehensive income, net of tax		-	14,077	-	27,027
Total comprehensive income, net of tax		754,444	3,093,240	228,652	1,232,066
Earnings per share - basic (in kobo)
Basic and diluted	43	36	148	11	58

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FIDSON HEALTHCARE PLC

Unaudited report and financial statements

For the period ended 31 December 2021

Statement of financial position

As at 31 December 2021

		Dec-21		Dec-20
ASSETS	Notes	₦'000		₦'000
Non-current assets
Property, plant and equipment	14	14,886,319	13,387,810
Right of use assets	15	486,271	595,194
Investment property	16	31,823	32,742
Intangible assets	17	21,722	23,530
Available- for-sale investments	18a	5,030	4,960
Loans and receivables	18b	277,292	12,871
Other non-current financial asset	19	173,162		171,673

		15,881,619	14,228,780
Current assets
Inventories	20	11,725,292	6,780,766
Trade and other receivables	21	3,079,631	2,731,272
Prepayments	22	819,068	296,312
Other current financial asset	19a	731,638	0
Cash and cash equivalents	23	1,224,516		3,205,354
		17,580,145		13,013,704
Total assets		33,461,764	27,242,484
Equity and liabilities
Equity
Issued share capital	32	1,043,180	1,043,180
Share premium	33	4,933,932	4,933,932
Retained earnings		7,133,388	4,561,808
Available for sale reserve	34	585		515
		13,111,085	10,539,435
Non-current liabilities
Interest bearing loans and borrowings	24	6,462,091	4,050,683
Obligation under Finance Lease	25	63,590	164,459
Retirement benefit obligation	26	268,185	447,792
Government grant	27	957,518	938,248
Deferred revenue	28	1,584	4,751
Deferred tax liability	13c	1,548,311		1,548,311
		9,301,279	7,154,244
Current liabilities
Trade and other payables	29	4,830,562	2,177,568
Interest bearing loans and borrowings	24	1,834,054	6,636,269
Bank Overdraft	23	259,662	232,229
Other financial liabilities	30	2,150,000	0
Obligations under Finance Lease	25	87,350	95,982
Government grant	27	356,650	244,229
Deferred revenue	28	3,167	3,168
Income tax payable	13b	1,453,403	120,424
Unclaimed dividend	31b	74,551		38,937
		11,049,400	9,548,806
Total liabilities		20,350,679	16,703,049
Total equityand liabilities		33,461,764		27,242,485

__________________________		___________________________
Fidelis Ayebae	28 January 2022	Olakunle Ajayi
Managing Director/CEO		Head, Accounting & Reporting
FRC/2014/CIANG/00000002376		FRC/2018/ICAN/00000018533
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FIDSON HEALTHCARE PLC

Unaudited report and financial statements

For the period ended 31 December 2021

Statement of Changes in Equity

	Share	Share	Retained	Available-	Total
	capital	premium	earnings	for-sale
				reserve
	₦000	₦000	₦000	₦000	₦000
At 1 January 2020	1,043,180	4,933,932	3,643,921	(725)	9,620,308
Profit for the year	-	-	1,205,039	-	1,205,039
Other comprehensive income for the year, net	-	-	25,787	1,240	27,027
Total Comprehensive Income for the year	-	-	1,230,826	1,240	1,232,066
Dividends (Note 32)	-	-	(312,939)	-	(312,939)
At 31 December 2020	1,043,180	4,933,932	4,561,808	515	10,539,435
At 1 January 2021	1,043,180	4,933,932	4,561,808	515	10,539,435
Profit for the year	-	-	3,079,163	-	3,079,163
Other comprehensive income for the year, net	-	-	14,007	70	14,077
Total Comprehensive Income for the year	-	-	3,093,170	70	3,093,240
Dividends (Note 32)	-	-	(521,590)	-	(521,590)
At 31 December 2021	1,043,180	4,933,932	7,133,388	585	13,111,085

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