TRIPPLE GEE & COMPANY PLC UNAUDITED
FINANCIAL STATEMENT
FOR THE SECOND
QUARTER ENDED
30TH SEPTEMBER, 2023
UNAUDITED RESULT FOR THE SECOND QUARTER ENDED 30TH SEPTEMBER 2023
The Directors of Tripple Gee & company PLC are pleased to announce the unaudited results of the company's operation for the second quarter ended, 30th September, 2023
STATEMENT OF FINANCIAL POSITION
FOR THE PERIOD | FOR THE PERIOD | AUDITED RESULT | ||
YEAR ENDED 31ST | ||||
30TH SEPT, 2023 | 30TH SEPT, 2022 | |||
MAR, 2023 | ||||
₦'000 | ₦'000 | ₦'000 | ||
ASSETS | ||||
NON-CURRENT ASSETS | ||||
PROPERTY PLANT & EQUIPMENT ... Note 1 | 3,851,460.00 | 2,545,744.00 | 3,922,414.00 | |
OTHER INTANGIBLE ASSETS | 95,594.00 | 95,594.00 | 95,594.00 | |
INVESTMENTS IN ASSOCIATES | - | 165,840.00 | - | |
TOTAL NON CURRENT ASSETS | 3,947,054.00 | 2,807,178.00 | 4,018,008.00 | |
CURRENT ASSETS | ||||
INVENTORIES … 2 | 723,483.00 | 907,337.00 | 549,294.00 | |
TRADE RECEIVABLES … 3 | 168,411.00 | 271,669.00 | 792,684.00 | |
OTHER CURRENT ASSETS … 4 | 367,465.00 | 974,395.00 | 289,374.00 | |
CASH AND CASH EQUIVALENTS … 5 | 3,805.00 | 1,362.00 | 12,734.00 | |
TOTAL CURRENT ASSETS | 1,263,164.00 | 2,154,763.00 | 1,644,086.00 | |
TOTAL ASSETS | 5,210,218.00 | 4,961,941.00 | 5,662,094.00 | |
EQUITY ATTRIBUTABLE TO OWNERS OF THE COMPANYSHARE CAPITAL
RETAINED EARNINGS
OTHER COMPONENTS OF EQUITY
EQUITY ATTRIBUTABLE TO OWNERS OF THE COMPANY
NON CONTROLLING INTEREST
TOTAL EQUITY
LIABILITY
NON CURRENT LIABILITIES
LONG TERM BORROWINGS
LONG TERM PROVISION
TOTAL NON CURRENT LIABILITIES
CURRENT LIABILITIES
TRADE & OTHER PAYABLES … 6
SHORT TERM BORROWINGS
CURRENT TAX PAYABLES
SHORT TERM PROVISIONS
TOTAL CURRENT LIABILITIES
TOTAL LIABILITIES
TOTAL EQUITY & LIABILITIES
The Financial Statements was approved by the Board of Directors on October 26th, 2023 and signed on its behalf by:
247,477.00 | 247,477.00 | 247,477.00 |
111,526.00 | 179,543.00 | 281,256.00 |
319,121.00 | 319,121.00 | 319,121.00 |
678,124.00 | 746,141.00 | 847,854.00 |
419,578.00 | 419,578.00 | 419,578.00 |
1,097,702.00 | 1,165,719.00 | 1,267,432.00 |
2,184,359.00 | 2,025,841.00 | 2,599,356.00 |
241,035.00 | 241,035.00 | 241,035.00 |
2,425,394.00 | 2,266,876.00 | 2,840,391.00 |
689,392.00 | 671,480.00 | 636,507.00 |
934,049.00 | 811,901.00 | 820,614.00 |
28,818.00 | 29,838.00 | 70,016.00 |
34,863.00 | 16,127.00 | 27,134.00 |
1,687,122.00 | 1,529,346.00 | 1,554,271.00 |
4,112,516.00 | 3,796,222.00 | 4,394,662.00 |
5,210,218.00 | 4,961,941.00 | 5,662,094.00 |
MR. NUREIN GBOLA FARAYOLA | MRS. ADEBIMPE GIWA | MR. SAMUEL IDOWU AYININUOLA |
AG. CHIEF FINANCE OFFICER | GROUP MANAGING DIRECTOR | CHAIRMAN |
FRC/2020/00000020703 | FRC/2020/002/00000022342 | FRC/2016/ICAN/00000015248 |
Page 1
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR PERIOD ENDED 30 SEPTEMBER 2023
THREE MONTHS | THREE MONTHS | 2023 | 2022 | AUDITED RESULT | ||
₦'000 | ₦'000 | ₦'000 | ₦'000 | ₦'000 | % | |
JULY - SEP 2023 | JULY - SEPT 2022 | 30TH SEPT, 2023 | 30TH SEPT, 2022 | YEAR ENDED 31ST | CHANGE | |
MAR 2023 | ||||||
TURNOVER … 7 | 472,523.00 | 1,010,919.00 | 1,138,981.00 | 1,478,284.00 | 3,176,489.00 | -23% |
COST OF SALES … 8 | (447,826.00) | (876,796.00) | (964,235.00) | (1,193,772.00) | (2,448,734.00) | -19% |
GROSS PROFIT | 24,697.00 | 134,123.00 | 174,746.00 | 284,512.00 | 727,755.00 | -39% |
OTHER OPERATING INCOME | - | - | - | 2,443.00 | ||
DISTRIBUTION & ADMINSTRATIVE EXPENSES … 9 | (121,007.00) | (113,647.00) | (241,073.00) | (227,405.00) | (465,075.00) | 6% |
OPERATING PROFIT | (96,310.00) | 20,476.00 | (66,327.00) | 57,107.00 | 265,123.00 | |
OTHER GAIN/LOSS | - | - | - | - | - | |
EXCHANGE RATE DIFFERENCE | - | - | - | - | - | |
OTHER INCOME | (59.00) | (59.00) | - | |||
FINANCE COSTS | (26,311.00) | (14,242.00) | (54,178.00) | (36,131.00) | (83,046.00) | |
PROFIT/(LOSS) BEFORE TAXATION | (122,621.00) | 6,175.00 | (120,505.00) | 20,917.00 | 182,077.00 | -676% |
TAXATION | 2,362.62 | 1,852.50 | 5,694.91 | 6,275.10 | 59,175.00 | -9% |
PROFIT/ (LOSS) AFTER TAXATION | (124,983.62) | 4,322.50 | (126,199.91) | 14,641.90 | 122,902.00 | -962% |
EARNINGS PER SHARE[KOBO] | (25.25) | 0.87 | (25.50) | 2.96 | 24.83 | -962% |
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STATEMENT OF CASH FLOW
2023 | 2022 | 2022 | |
₦'000 | ₦'000 | AUDITED RESULT | |
30TH SEPT, 2023 | 30TH SEPT, 2022 | YEAR ENDED 31ST | |
MAR 2023 | |||
NET PROFIT BEFORE TAXATION | (120,505.00) | 20,917.00 | 182,077.00 |
ADJUSTMENTS FOR DEPRECIATION & INTEREST EXPENSE | 245,110.00 | 108,498.00 | 296,377.00 |
OPERATING CASH FLOW BEFORE WORKING CAPITAL CHANGES | 124,605.00 | 129,415.00 | 478,454.00 |
CASH GENERATED FROM OPERATING ACTIVITIES | 460,729.00 | (551,000.00) | 884,982.00 |
TAX PAID | (26,621.00) | (56,152.00) | 24,992.00 |
DIVIDEND PAID | (49,495.00) | (29,697.00) | 29,698.00 |
NET CASH GENERATED FROM OPERATING ACTIVITIES | 384,613.00 | (636,849.00) | 939,672.00 |
CASH FLOW FROM FINANCING ACTIVITIES | (464,493.00) | 740,358.00 | 853,271.00 |
CASH FLOW FROM INVESTING ACTIVITIES | 70,954.00 | (111,267.00) | (1,789,330.00) |
NET (DECREASE)/INCREASE IN NET CASH & CASH EQUIVALENTS | (8,926.00) | (7,758.00) | 3,613.00 |
CASH/BANK BALANCE AT THE BEGINNING OF THE PERIOD | 12,731.00 | 9,120.00 | 9,121.00 |
CASH/BANK BALANCE AT THE END OF THE PERIOD | 3,805.00 | 1,362.00 | 12,734.00 |
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STATEMENT OF CHANGES IN EQUITY FOR THE SECOND QUARTER ENDED 30TH SEPTEMBER, 2023
Equity Shares | Revaluation | Capital Reserve | Retained | Total | ||
Reserve | Earnings | |||||
₦'000 | ₦'000 | ₦'000 | ₦'000 | ₦'000 | ||
Balance - 1st April 2022 | 247,477 | 197,886 | 121,235 | 188,323 | 754,921 | |
Comprehensive Income for the period | ||||||
Profit for the period ended 30th September 2022 | - | - | - | 20,917 | 20,917 | |
Dividend Paid | (29,697) | (29,697) | ||||
Balance - 30th September 2022 | 247,477 | 197,886 | 121,235 | 179,543 | 746,141 | |
Comprehensive income for the period | ||||||
Profit for the period ended 31 March 2023 | - | - | - | 72,286 | 72,286 | |
Dividend Paid | - | - | - | 29,698 | 29,698 | |
Prior Year Adjustment | - | - | - | - | - | |
Balance - 31st March 2023 | 247,477 | 197,886 | 121,235 | 281,527 | 848,125 | |
Comprehensive income for the period | ||||||
Profit for the period ended 30 September 2023 | - | - | - | - | 120,505.00 | (120,505) |
Dividend Paid | - | - | - | - | 49,496.00 | (49,496) |
Balance -30th September 2023 | 247,477 | 197,886 | 121,235 | 111,526 | 678,124 | |
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TRIPPLE GEE & COMPANY PLC | ||||
TRIPPLE GEE & COMPANY | ||||
Company Name: | PLC | |||
Main | ||||
Board Listed: | Board | |||
Year End: | MARCH | |||
Reporting Period: | Half Year Ended 30 September 2023 | |||
Share Price at end of reporting period: | N2.38 (22 N0.81) | |||
Shareholding Structure/Free Float Status | ||||
30 September 2023 | 30 September 2022 | |||
Description | Unit | Percentage | Unit | Percentage |
Issued Share Capital | 494,953,200 | 100% | 494,953,200 | 100% |
Substantial Shareholdings (5% and above) | ||||
MRS. M. A. GIWA | 164,437,822 | 33.22% | 164,437,822 | 33.22% |
TIGON INDUSTRIES LTD | 55,648,797 | 11.24% | 55,648,797 | 11.24% |
AN BOS OIL NIGERIA LTD | 44,227,813 | 8.94% | 44,227,813 | 8.94% |
MR OLUSEGUN OLUSANYA | 25,314,867 | 5.11% | 25,314,867 | 5.11% |
Total Substantial Shareholdings | 289,629,299 | 58.52% | 289,629,299 | 58.52% |
Directors' Shareholdings (direct and | ||||
indirect), excluding directors with | ||||
substantial interests | ||||
MR SAM IDOWU AYININUOLA | 19,137,456 | 3.87% | 19,137,456 | 3.87% |
SENATOR (CHIEF) F K BAJOMO | 5,210,264 | 1.05% | 5,210,264 | 1.05% |
0.00% | 0.00% | |||
0.00% | 0.00% | |||
0.00% | 0.00% | |||
-- | -- | -- | -- | |
Total Directors' Shareholdings | 24,347,720 | 4.92% | 24,347,720 | 4.92% |
Other Influential Shareholdings | ||||
0.00% | 0.00% | |||
0.00% | 0.00% | |||
0.00% | 0.00% | |||
Total Other Influential Shareholdings | 0 | 0.00% | 0 | 0.00% |
Free Float in Units and Percentage | 180,976,181 | 36.56% | 180,976,181 | 36.56% |
Free Float in Value | N 1,357,321,357.50 | N 1,357,321,357.50 |
Declaration:
Tripple Gee & Co. Plc with a free float percentage of 36.56% as at 30th September 2023, is compliant with The Exchange's free float requirements for companies listed on the Main Board.
NOTES TO ACCOUNT
2023 | 2022 | AUDITED RESULT | |
30TH SEPT 2023 | 30TH SEPT 2022 | YEAR ENDED 31ST | |
MAR 2023 | |||
1. PROPERTY, PLANT & EQUIPMENTS | ₦'000 | ₦'000 | ₦'000 |
LAND & BUILDING | 858,319.00 | 523,262.00 | 861,750.00 |
PLANT & MACHINERIES | 2,857,668.00 | 1,954,799.00 | 2,964,870.00 |
OFFICE FIRN & FITTINGS | 22,319.00 | 18,204.00 | 24,237.00 |
MOTOR VEHICLE | 85,901.00 | 23,063.00 | 40,297.00 |
LOOSE TOOLS/LAB EQUIP | 3,081.00 | 4,226.00 | 3,653.00 |
COMPUTERS | 24,172.00 | 22,190.00 | 27,607.00 |
3,851,460.00 | 2,545,744.00 | 3,922,414.00 | |
2. INVENTORIES | |||
RAW MATERIALS | 508,109.00 | 575,213.00 | 315,902.00 |
FINISHED GOODS | 73,111.00 | 54,691.00 | 90,964.00 |
WORK IN PROGRESS | 17,374.00 | 26,589.00 | |
STOCK IN TRANSIT | 124,889.00 | 250,844.00 | 142,428.00 |
723,483.00 | 907,337.00 | 549,294.00 | |
3. TRADE RECEIVABLES | |||
TRADE DEBTORS | 168,411.00 | 271,492.00 | 792,684.00 |
OTHERS (GAMBBOU) | - | 176.00 | - |
168,411.00 | 271,668.00 | 792,684.00 | |
4. OTHER CURRENT ASSETS | |||
STAFF LOANS | 1,677.00 | 362.00 | - |
DEPOSIT FOR PLANT & MACHINERY | 59,943.00 | 526,105.00 | - |
WITHHOLDING TAX | 233,275.00 | 192,314.00 | 201,606.00 |
PREPAYMENTS | 26,810.00 | 129,380.00 | 28,164.00 |
GRATUITY & PENSION | - | 11,250.00 | - |
DEPOSIT FOR RAW MATERIALS | 24,626.00 | 29,239.00 | 49,252.00 |
PREPAID EXPENSES | 21,134.00 | 85,745.00 | 10,352.00 |
367,465.00 | 974,395.00 | 289,374.00 | |
5. CASH & CASH EQUIVALENTS | |||
AT BANK | 3,805.00 | 1,262.00 | 12,733.00 |
IN HAND | 100.00 | - | |
3,805.00 | 1,362.00 | 12,733.00 | |
6. TRADE & OTHER PAYABLES | |||
TRADE CREDITORS | 427,650.00 | 298,048.00 | 477,352.00 |
UNCLAIMED DIVIDEND | 1,683.00 | 2,676.00 | 1,901.00 |
DEPOSIT BY CUSTOMERS | 40,978.00 | 296,353.00 | 12,415.00 |
OTHER CREDITORS & ACCRUALS | 199,855.00 | 69,337.00 | 132,809.00 |
STAFF PENSION | 19,226.00 | 5,066.00 | 12,030.00 |
689,392.00 | 671,480.00 | 636,507.00 |
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- TURNOVERPRINTING SERVICES OTHER PRINTING SERVICES PACKAGING
OTHER PACKAGING - COST OF SALES
RAW MATERIALS CONSUMED
SALARIES & WAGES
REPAIR & MAINTENANCE
ELECTRICITY & POWER
TRANSPORT & TRAVELLING
PRINTING & STATIONERY
TELEX & TELEPHONE
POSTAGES & COURIER
DEPRECIATION
-
DISTRIBUTION & ADMIN EXPENSESSALARIES & WAGES
DIRECTORS REMUNERATION GRATUITY
PENSION CONTRIBUTION POWER
REPAIRS & MAINTENANCE DEPRECIATION & AMORTISATION GENERAL ADMIN EXPENSES - SECURITY TRANSACTIONS BY DIRECTORS
CONFIRMATION OF COMPLIANCE WITH PROVISIONS OF RULE17.15 (D)We hereby affirm that, there is no contravention to the
provision of Rule 17.15 (d) of the Rulebook of the Exchange, 2015. The company has adopted a code of conduct regarding securities transactions by its directors on terms no less exacting than the required standard set-out in these Rules. We have made specific enquiries from all our directors and thus confirms that there is full compliance with the required standards as set out in the listing rules and the issuer's code of conduct regarding securities transactions by the Directors.
11. CONFIRMATION OF COMPLIANCE WITH PROVISIONS OF
ISSUERS' RULE SECTION 1.1.1 ON FREE FLOATING STATUSTripple Gee & Co. Plc with a free float percentage of
40.57% as at 30th September, 2021 is in compliance with section 1.1.1 of the Issuers' Rules for Companies listed on the main Board of the Exchange free float requirements, as per attached statement of the shareholding structure/free float status.
-
SECURITY TRANSACTIONS BY DIRECTORS CONFIRMATION OF COMPLIANCE WITH PROVISIONS OF RULE17.15 (D)
We hereby affirm that, there is no contravention to the provision of Rule 17.15 (d) of the Rulebook of the Exchange, 2015. The company has adopted a code of conduct regarding securities transactions by its directors on terms no less exacting than the required standard set-out in these Rules. We have made specific enquiries from all our directors and thus confirms that there is full compliance with the required standards as set out in the listing rules and the issuer's code of conduct regarding securities transactions by the Directors. - CONFIRMATION OF COMPLIANCE WITH PROVISIONS OF
ISSUERS' RULE SECTION 1.1.1 ON FREE FLOATING STATUSTripple Gee & Co. Plc with a free float percentage of
36.56% as at 30th September, 2023 is in compliance with section 1.1.1 of the Issuers' Rules for Companies listed on the main Board of the Exchange free float requirements, as per attached statement of the shareholding structure/free float status.
869,048.00 | 196,724.00 | 1,751,622.00 |
789,600.00 | - | |
269,933.00 | 329,646.00 | 1,424,867.00 |
162,314.00 | - | |
1,138,981.00 | 1,478,284.00 | 3,176,489.00 |
665,265.00 | 965,972.00 | 1,931,994.00 |
56,497.00 | 41,353.00 | 84,785.00 |
5,483.00 | 3,412.00 | 13,373.00 |
40,599.00 | 58,634.00 | 147,426.00 |
1,192.00 | 6,499.00 | 14,117.00 |
18,901.00 | 2,821.00 | 13,149.00 |
6,615.35 | 1,411.00 | 2,500.00 |
12,285.65 | 5,172.00 | 9,497.00 |
157,397.00 | 108,498.00 | 231,893.00 |
964,235.00 | 1,193,772.00 | 2,448,734.00 |
74,417.00 | 46,497.00 | 95,724.00 |
4,900.00 | 5,270.00 | 24,058.00 |
3,785.00 | 12,048.00 | 27,083.00 |
7,249.00 | 4,842.00 | 11,017.00 |
14,317.00 | 14,587.00 | 37,709.00 |
2,702.00 | 2,202.00 | 8,372.00 |
38,623.00 | 25,827.00 | 56,926.00 |
95,080.00 | 116,132.00 | 204,186.00 |
241,073.00 | 227,405.00 | 465,075.00 |
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Tripple Gee & Company plc published this content on 31 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 October 2023 07:47:43 UTC.
