UAC OF NIGERIA : QUARTER 4 - FINANCIAL STATEMENT FOR 2021

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:
3. 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;
4. 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.
5. We:
6. 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.
7. We have disclosed to the auditors of the company and audit committee:
8. 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.
9. 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

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UAC of Nigeria PLC

Statement on Investor Relations

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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

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