NIGERIAN AVIATION HANDLING : QUARTER 4 - FINANCIAL STATEMENT FOR 2022

Nigerian Aviation Handling Company Plc

Unaudited Financial Position 4th Quarter ended 31st December, 2022

Nigerian Aviation Handling Company PLC Consolidated and Separate Financial Statements -- 31 Dec., 2022

Contents

Page

Consolidated Statement of Comprehensive Income	1
Consolidated Statement of Financial Position	2
Statement of Changes in Equity	3-4
Nahco Plc free Float Analysis	5
Consolidated Statement of Cashflow	6
Notes to the Consolidated Financial Statements	7- 39

Nigerian Aviation Handling Company PLC Consolidated and Separate Financial Statements -- 31 Dec., 2022

Consolidated and Separate Statement of Comprehensive Income

For the period ended 31st December, 2022.

		Group	Group		Company	Company
		Jan. - Dec.	Jan. - Dec.	Oct. - Dec.	Oct. - Dec.		Jan. - Dec.	Jan. - Dec.	Oct. - Dec.	Oct. - Dec.
		2022	2021	2022	2021			2022	2021	2022	2021
	Notes	N'000	N'000	N'000	N'000		N'000	N'000	N'000	N'000
Revenue	5	16,372,132	10,232,674	5,088,912	2,784,586		15,736,369	9,658,964	4,882,799	2,632,638
Operating costs	9a	(9,321,714)	(6,891,762)	(3,012,286)	(2,271,650)		(9,120,215)	(6,662,473)	(2,939,649)	(2,185,631)
Gross Profit		7,050,418	3,340,912	2,076,626	512,936		6,616,154	2,996,491	1,943,150	447,007
Other Income	6	357,707	268,082	116,408	-18,996		264,906	203,812	78,179	-42,919
Administrative Costs	9b	(3,540,831)	(2,556,374)	(1,113,163)	(558,874)		(3,234,996)	(2,339,697)	(1,006,751)	(496,162)
Profit from operations		3,867,294	1,052,620	1,079,871	-64,934		3,646,064	860,606	1,014,578	-92,074
Finance Income	7	108,480	59,331	24,262	29,527		108,480	59,331	24,262	29,527
Finance costs	7	(188,564)	(187,096)	(46,963)	(46,252)		(177,160)	(177,113)	(44,290)	(44,290)
Expected Credit Reversal/(Losses)	9c	-	-	-	-			-	-	-	-
Profit/(Loss) before tax		3,787,210	924,855	1,057,170	(81,659)		3,577,384	742,824	994,549	(106,836)
Income tax expense	8(a)	(1,052,456)	(153,240)	(429,511)	128,129		(995,228)	(163,094)	(414,091)	89,121
Profit/(loss) after tax		2,734,754	771,615	627,659	46,470		2,582,156	579,730	580,459	(17,715)
Other comprehensive income		-	-	-	-			-	-	-	-
Total comprehensive income		2,734,754	771,615	627,659	46,470		2,582,156	579,730	580,459	(17,715)
Attributable to:
Profit/ (loss) attributable to owners of the
company		2,721,391	743,189	624,317	35,714		2,582,156	579,730	580,458	(17,715)
Non-controlling interest	9	13,363	28,426	-	-			-	-	-	-
		2,734,754	771,615	624,317	35,714		2,582,156	579,730	580,458	(17,715)
Earnings per share
Basic earnings per share ( Kobo)	10	140	46	11	2		132	36	9	(1)
Diluted earnings per share ( Kobo)	10	140	46	11	2		132	36	9	(1)

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Nigerian Aviation Handling Company PLC Consolidated and Separate Financial Statements -- 31 Dec., 2022

Consolidated and Separate Statement of changes in Equity

For the period ended 31 December, 2022

	Attributable to equity holders of the Group
							Non-
	Share		Share		Retained		controlling
	Capital		Premium		Earnings	Total	Interest	Total Equity
	N'000		N'000		N'000	N'000	N'000	N'000
As at 1 January 2022	812,109	1,914,758	4,376,542	7,103,409	(84,972)	7,018,437
Bonus Issue of 1 for 5 units of Shares	162,422	(162,422)
Restatement Due to IFRS 9 Adoption	-	-			-		-
Carrying Balance at 1 Jan 2022	974,531	1,752,336	4,376,542	7,103,409	(84,972)	7,018,437
Profit for the year	-	-	2,721,391	2,721,391	13,363	2,734,754
Other comprehensive income:
Defined benefit plan actuarial gains (losses)	-	-	-	-	-	-
Prior year deferred tax adjustment	-	-	-	-	-	-
Restated Balance Due to IFRS Adoption in Consolidation				552	552		552
Restated Balance from Arik Air Impairment Bal	-	-	-	-	-	-
Other comprehensive income	-	-	552	552	-	552
Total comprehensive income for the period	-		-		2,721,943	2,721,943	13,363	2,735,306
Transaction with owners recognised directly in equity
Dividend payable to owners	-	-	-	-	-	-
Dividend Paid	-	-	(665,930)	(665,930)	-	(665,930)
Total transactions with owners of the Company	-		-		(665,930)	(665,930)	-	(665,930)
As at 31st Dec. 2022	974,531		1,752,336		6,432,555	9,159,422	(71,609)	9,087,813

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