UNIVERSITY PRESS : QUARTER 2 - FINANCIAL STATEMENT FOR 2023

UNAUDITED FINANCIAL STATEMENTS

FOR SECOND QUARTER ENDED

30TH SEPTEMBER 2022

UNIVERSITY PRESS PLC

UNAUDITED STATEMENT OF FINANCIAL POSITION

AS AT 30 SEPTEMBER 2022

		September		March
Assets		2022	2022
Non-current assets	Notes	N'000		N'000
Property, plant and equipment	4	1,480,547	1,518,460
Investment Property		354,000		354,000
		1,834,547	1,872,460
Current assets
Inventories and work-in-progress	5	1,506,709	1,299,308
Trade receivables	6	970,427	238,653
Other receivables and prepayments	7	64,959	36,017
Cash and cash equivalents	15	107,576		841,056
Total current assets		2,649,671		2,415,034
Total assets		4,484,218	4,287,494
Equity and Liabilities
Current liabilities
Trade payables	8	22,603	67,988
Other payables and accruals	9	601,043	605,367
Unclaimed dividends		144,438	144,438
Current income tax liability	3	132,582		140,728
		900,666	958,521
Non-Current liabilities
Deferred taxation		156,640	156,640
Total Liabilities
	1,057,306		1,115,161
Net Assets		3,426,912	3,172,332
Equity
Share capital	10	215,705	215,705
Share premium	11	146,755	146,755
Capital reserve	12	1,442	1,442
Revaluation reserves	13	1,094,896	1,094,896
Revenue reserve	14	1,968,114		1,713,533
		3,426,912		3,172,332

The financial statements were approved by the Board on 28th September, 2022 and signed on its behalf by:

Mr. Obafunso Ogunkeye	Mr. S. Kolawole	Dr. G. A. Adebayo
Chairman	Managing Director	Executive Director (Finance)
FRC/2013/CITN/00000003567	FRC/2013/ICSAN/00000003248	FRC/2013/ICAN/00000003250

The accompanying notes and significant accounting policies form an integral part of these financial statements.

UNIVERSITY PRESS PLC

UNAUDITED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE SECOND QUARTER ENDED 30 SEPTEMBER 2022

	Notes
Revenue	1
Cost of sales
Gross profit
Other operating income	2
Marketing and distribution expenses
Administrative expenses
Profit from continuing operations
Finance Income	2
Profit before taxation
Taxation Expense	3

Profit after tax from continuing operations

Total Comprehensive income attributable to owners of the entity Basic earnings per 50k share Diluted earnings per 50k share

Apr -Sept.		July -Sept.		Apr -Sept.		July -Sept.
2022	2022	2021	2021
N'000		N'000		N'000		N'000
1,747,538	1,545,106	1,569,458	1,384,553
(701,894)	(619,598)	(644,568)	(579,204)
1,045,644	925,508	924,890	805,349
4,504	1,561	6,054	775
(269,334)	(125,487)	(233,524)	(119,160)
(359,339)	(208,787)	(367,951)	(204,886)
421,475	592,795	329,469	482,078
8,763		2,094		6,377		4,214
430,238	594,889	335,846	486,292
(132,516)	(132,516)	(92,071)	(92,071)
297,722	462,373	243,775	394,221
297,722	462,373	243,775	394,221
69k		107k		57k		91k
69k		107k		57k		91k

UNIVERSITY PRESS PLC

UNAUDITED STATEMENT OF CHANGES IN EQUITY

FOR THE SECOND QUARTER ENDED 30 SEPTEMBER 2022

				PPE
	Share	Share	Capital	revaluation	Revenue	Total
	Capital	Premium	Reserve	Reserve	Reserve	Equity
	N'000	N'000	N'000	N'000	N'000	N'000
Balance at 1 April 2022	215,705	146,755	1,442	1,094,896	1,713,533	3,172,332
Profit for the period	-	-	-	-	297,722	297,722
Total comprehensive profit
-	-	-	-	297,722	297,722
Transactions with owners:
Dividend paid	-	-	-	-	(43,141)	(43,141)
	-	-	-	-	(43,141)	(43,141)
Balance at 30 September 2022
215,705	146,755	1,442	1,094,896	1,968,114	3,426,912

Balance at 1 April 2021	215,705	146,755	1,442	772,448	1,527,612	2,663,962
Comprehensive income for the year:	-	-	-	-	207,492	207,492
	-	-	-	-	207,492	207,492
Other comprehensive income
Items that will not be reclassified subsequently
to profit or loss Revaluation gain net of tax
	-	-	-	322,448	-	322,448
	-	-	-	-	-	-
Total comprehensive income
-	-	-	322,448	207,492	529,940
Transactions with owners:
Dividend paid	-	-	-	-	(21,571)	(21,571)
	-	-	-	-	(21,571)	(21,571)

Balance at 31 March 2022	215,705	146,755	1,442	1,094,896 1,713,533 3,172,332