UAC of Nigeria PLC

Unaudited Condensed Consolidated Financial Statements for the Year ended 31 December 2021

UAC of Nigeria PLC

Unaudited condensed consolidated financial statements for the Year ended 31 December 2021

Content

Page

Certification pursuant to section 60(2) of the Investment and Securities Act No. 29 of 2007 and section

1

405(1) of Companies and Allied Matters Act, 2020

Investor relations statement

2

Unaudited financial statements

Condensed consolidated statement of profit or loss and other comprehensive income

3

Condensed consolidated statement of financial position

4

Condensed consolidated statement of changes in equity

5

Condensed consolidated statement of cash flows

6

Notes to the condensed consolidated financial statements

7

Shareholding structure/free float status

33

UAC of Nigeria PLC

Certification pursuant to section 60(2) of the Investment and Securities Act No. 29 of 2007 and section 405(1) of

We the undersigned hereby certify the following with regards to our unaudited financial report for the year ended 31 December

2021 that:

  1. We have reviewed the report;
  2. To the best of our knowledge, the report does not:
    1. contain any untrue statement of a material fact, or
    2. omit to state a material fact, which would make the statements misleading in the light of the circumstances under which such statements were made;
  3. To the best of our knowledge, the financial statements and other financial information included in the report fairly present in all material respects the financial condition and results of operations of the company as of, and for the periods presented in the report.
  4. We:
    1. are responsible for establishing and maintaining internal controls;
    2. have designed such internal controls to ensure that material information relating to the company and it's consolidated subsidiaries is made known to such officers by others within those entities particularly during the period in which the periodic reports are being prepared;
    3. have evaluated the effectiveness of the company's internal controls as of a date within 90 days prior to the report; and
    4. have presented in the report our conclusions about the effectiveness of our internal controls based on our evaluation as of that date.
  5. We have disclosed to the auditors of the company and audit committee:
    1. all significant deficiencies in the design or operation of internal controls which would adversely affect the company's ability to record, process, summarize and report financial data and have identified for the company's auditors any material weakness in internal controls; and
    2. any fraud, whether or not material, that involve management or other employees who have significant role in the company's internal controls.
  6. We have identified in the report whether or not there were significant changes in the internal controls or other factors that could significantly affect internal controls subsequent to the date of our evaluation, including any corrective actions with regards to significant deficiencies and material weaknesses.

fated.

Folasope Aiyesimoju

Funke Ijaiya-Oladipo

Group Managing Director

Group Finance Director

FRC/2019/IODN/00000019806

FRC/2021/001/00000022822

1

UAC of Nigeria PLC

Statement on Investor Relations

8$&RI1LJHULD3/&KDVDGHGLFDWHGLQYHVWRUV¶SRUWDORQLWVFRUSRUDWHZHEVLWHZKLFKFDQEHDFFHVVHGYLDWKLVOLQN KWWSVZZZXDFQSOFFRP7KH&RPSDQ¶V*URXS)LQDQFH'LUHFWRUFDQDOVREHUHDFKHGWKURXJKHOHFWURQLFPDLODW investorrelations@uacnplc.com; or telephone on: +234 906 269 2908 for any investment related enquiry.

2

UAC of Nigeria PLC

Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income for the year ended 31 December 2021

3 months to

3 months to

12 months to

December

12 months to

December 2020

December 2020

2021

December 2021

Restated

Restated

Continuing operations

Notes

N'000

N'000

N'000

N' 000

Revenue

3

29,739,052

101,106,788

23,560,238

81,357,960

Cost of sales

6

(24,562,735)

(83,572,828)

(18,965,040)

(65,367,532)

Gross profit

5,176,317

17,533,960

4,595,198

15,990,428

Dividend income

4

246,931

260,093

(286)

9,675

Other operating income

5

2,248,128

2,647,220

787,635

1,184,631

Other operating losses

5i

(80,031)

(118,510)

(51,900)

(120,487)

Selling and distribution expenses

6

(1,804,452)

(6,347,721)

(1,314,256)

(5,776,661)

Administrative expenses

6

(2,173,300)

(8,223,612)

(2,436,525)

(7,690,277)

Operating profit

3,613,593

5,751,431

1,579,867

3,597,309

Finance income

7

273,356

1,194,159

262,420

1,052,050

Finance cost

7

(379,159)

(1,447,663)

(53,491)

(501,830)

Net finance (cost)/income

(105,803)

(253,504)

208,929

550,220

Share of (loss)/profit from associates

15

(291,866)

(904,272)

857,898

973,316

Profit before tax

3,215,923

4,593,655

2,646,694

5,120,845

Income tax expense

8

(513,471)

(1,325,979)

(673,007)

(1,696,583)

Profit after tax for the period/year from continuing operations

2,702,452

3,267,676

1,973,687

3,424,262

Discontinued operations

(Loss)/profit after tax for the period/year from discontinued

operations

31

-

(2,105)

18,476

469,662

Profit for the period/year

2,702,452

3,265,571

1,992,163

3,893,924

Other comprehensive income:

Items not to be subsequently recycled to profit or loss

Net changes in fair value of financial assets

14

21,875

40,000

153,209

159,354

Share of other comprehensive income of associates and joint

(65,743)

(60,026)

71,460

71,460

ventures using the equity method

Other comprehensive (loss)/income for the period/year net of tax

(43,868)

(20,026)

224,669

230,814

Total comprehensive income for the period/year net of tax

2,658,584

3,245,545

2,216,832

4,124,738

Profit attributable to:

2,477,523

2,387,846

1,263,775

2,617,429

Equity holders of the parent

Non controlling interests

224,930

877,725

728,388

1,276,495

2,702,453

3,265,571

1,992,163

3,893,924

Total comprehensive income attributable to:

2,433,655

2,367,820

1,488,444

2,848,243

Equity holders of the parent

Non controlling interests

224,930

877,725

728,388

1,276,495

2,658,585

3,245,545

2,216,832

4,124,738

Earnings per share attributable to owners of the parent during the

period/year (expressed in Kobo per share):

Basic earnings per share

From continuing operations (Kobo)

9

86

83

46

70

9

-

(0)

(2)

21

From discontinued operations (Kobo)

From profit for the period/year (Kobo)

86

83

44

91

Diluted earnings per share

From continuing operations (Kobo)

9

86

83

46

70

From discontinued operations (Kobo)

9

-

(0)

(2)

21

From profit for the period/year (Kobo)

86

83

44

91

3

This is an excerpt of the original content. To continue reading it, access the original document here.

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

UAC of Nigeria plc published this content on 29 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 January 2022 16:30:15 UTC.