CHAMS : QUARTER 2 - FINANCIAL STATEMENT FOR 2023

Chams Holding Company Plc

Unaudited Consolidated and Separate Financial Statements For the period ended June 30 2023

Chams Holding Company Plc

Unaudited Consolidated and Separate Financial Statements for the period ended June 30 2023

Contents	Page
Statement of Profit & Loss & Other Comprehensive Income	3
Statement of Financial Position	4-5
Statement of Changes in Equity	6-7
Statement of Cash Flow	8
Notes to the Financial Statement	9-14

2

Chams Holding Company Plc

Unaudited Consolidated and Separate Statement of Profit or Loss and other Comprehensive Income for the period ended June 30 , 2023

		Group Account	Group Account	Group Account	Chams Holdco Plc	Chams Holdco Plc	Chams Holdco Plc
		Unaudited	Unaudited	Audited	Unaudited	Unaudited	Audited
		2023	2022	2022	2023	2022	2022
		Jan-June	Jan-June		Jan-June	Jan-June
		N' 000	N' 000	N' 000	N' 000	N' 000	N' 000
Revenue		5,424,693	2,107,318	5,066,147	637,562	51,359	51,983
Cost of Sales		(4,043,052)	(1,632,855)	(4,061,357)	(198,111)	(41,856)	(74,510)
Gross Profit		1,381,641	474,463	1,004,789	439,451	9,503	(22,527)
Other operating Income		3,895	106,444	124,257	18,142	95,756	181,219
Administrative Expenses		(1,023,585)	(518,751)	(1,134,504)	(466,243)	(108,845)	(8,927)
Operating Profit/( Loss)		361,951	62,156	(5,458)	(8,651)	(3,586)	149,765
Group Contribution					81,000
Finance expense		(139,629)	(73,204)	(188,660)	(72,490)	(46,601)	(90,670)
Finance Income		96,180	31,921	65,062	5,869	6,509	9,716
(Loss)/Profit before Taxation		318,501	20,872	(129,056)	5,729	(43,678)	68,811
Taxation expense (Provision)			(6)	(246,184)			(214,292)
Profit/(Loss) after Taxation		318,501	20,866	(375,240)	5,729	(43,678)	(145,480)
Profit/(Loss) attributable to:
Owners of the Parent		276,278		(325,495)
Non-controlling interests		42,223		(49,745)
Basic (Loss) / earnings per share (kobo)		5.88	0.37	(6.93)	0.12	(0.93)	(3.10)
Diluted (Loss)/ earnings per share (Kobo)		5.88	0.37	(6.93)	0.12	(0.93)	(3.10)
Other Comprehensive Income/ Loss
Revaluation gain on intangible asset				1,771,138
Loss on investment securities at fair value
through other comprehensive income				(8,373)			(8,373)
Other comprehensive income/(loss)
(net of tax)		-	-	1,762,765	-	-	(8,373)
Total Comprehensive Income		318,501	20,866	1,387,525	5,729	(43,678)	(153,853)
Profit/Loss for the period attributable to	:
Owners of the company			17,886	1,762,765	5,729	(43,678)	(8,373)
Non controlling interest			2,980		-	-
		-	-
Income after taxation		-	20,866	1,762,765	5,729	(43,678)	(8,373)
Total comprehensive income attributable	to:
Owners of Parent		276,278	17,886	1,437,270	5,729		(153,853)
Non controlling interest		42,223	2,980	(49,745)	-		-

3

Chams Holding Company Plc and Its Subsidiary Companies Unaudited Consolidated and Separate Statement of Financial Position for the period ended June 30 , 2023

			Group			Company
		Unaudited	Unaudited	Audited	Unaudited	Unaudited	Audited
		Q2 2023	Q2 2022	2022	Q2 2023	Q2 2022	2022
Assets	Notes	N'000	N'000	N'000	N'000	N'000	N'000
Non-current assets
Right of Use of Asset	6	15,300		15,300.00
Property,plant and equipment	7	2,252,438	2,252,145	2,249,038	1,692,681	1,742,595	1,717,134
Investment Project		22,375
Deposit for Investment
Available for Sale financial Assets
Intangible Asset	8	7,018,147	5,281,795	7,144,798		1,132
Investment in Subsidiaries					4,231,190	3,548,164	4,400,059
Investment in associates		75,000	75,000	75,000	75,000	75,000	75,000
Investment in Joint Ventures		425,044	17,375	425,044
Investment securities at fair value through other
Comprehensive Income		84,454	92,827	84,454	84,454	92,827	84,454
		9,892,757	7,719,142	9,993,634	6,083,325	5,459,718	6,276,647
CURRENT ASSETS
Inventory & Work In Progress	9	712,485	212,736	372,908		282
Trade and other receivable	10	3,689,775	1,986,724	3,904,067	444,051	623,237	415,625
Due from related Parties						274,040
Short term investment		14,578	14,578
Prepayments		30,600	138,627			5,446
Cash and Cash Equivalent		2,241,514	2,891,429	2,018,270	23,890	28,286	2,736
		6,688,952	5,244,093	6,295,245	467,942	931,290	418,361
Total Assets		16,581,710	12,963,235	16,288,879	6,551,267	6,391,008	6,695,008
Liabilities
Non -current liabilities
Lease liabilities		10,680	10,680	10,680
Long Term Loan	11	846,402	1,199,998	1,251,940	706,878	981,046	983,995
Deferred Tax/ Income		156,454		156,454	156,454		156,454
		1,013,536	1,210,678	1,419,073	863,332	981,046	1,140,449
Current liabilities
Trade and other Payable	12	4,563,278	6,751,884	4,837,288	1,701,821	1,091,805	1,705,503
Loan & Borrowing		144,881		370,228	144,881
Deposit for Shares	13	108,931	60,352
Defered Income		821,690	34,838
Due to Related Party				50,679		428,173
Taxation		161,440	142,362	162,160	106,969	66,335	120,521
		5,800,220	6,989,435	5,420,354	1,953,671	1,586,313	1,826,024
Total liabilities		6,813,756	8,200,113	6,839,427	2,817,003	2,567,359	2,966,473
NET ASSETS		9,767,954	4,763,122	9,449,453	3,734,264	3,823,649	3,728,535

4

Chams Holding Company Plc

Unaudited Consolidated and Separate Financial Statements for the period ended June 30 2023

Statement of Financial Position (Continued)

As at June 30, 2023

			Group			Company
		Unaudited	Unaudited	Audited	Unaudited	Unaudited	Audited
		JUNE2023	JUNE 2022	2022	JUNE 2023	JUNE 2022	2022
		N'000	N'000	N'000	N'000	N'000	N'000
Issued capital and reserves attributable to
owners of the parent
Share Capital		2,348,030	2,348,030	2,348,030	2,348,030	2,348,030	2,348,030
Share Premium		35,008	35,008	35,008	35,008	35,008	35,008
Revaluation Reserve		4,755,307	3,887,450	4,755,307	1,463,364	1,463,364	1,463,364
Revenue Reserve
Capital Reserve		145,522	145,522	145,522
Retained Earnings	14(i)	(1,999,368)	(2,866,681)	(2,275,646)	(96,592)	(15,580)	(102,321)
Fairvalue Reserve		(15,546)	(7,173)	(15,546)	(15,546)	(7,173)	(15,546)
Equity Attributable to Owners of the Parent		5,268,953	3,542,156	4,992,675	3,734,264	3,823,649	3,728,535
Non-Controlling Interest	14(ii)	4,499,001	1,220,966	4,456,777
TOTAL EQUITY		9,767,954	4,763,122	9,449,453	3,734,264	3,823,649	3,728,535

The Financial statements on Pages 2 to 5 were approved for issue by the Board of Directors on June 30 2023 and signed on its behalf by :

____________________
Mayowa Olaniyan	Ifeoma N. Obasanya
Group Managing Director	Head, Finance & Account
FRC/2013/ICAN/00000004330	FRC/2022/PRO/NIM/002/191239

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