ABC TRANSPORT : QUARTER 2 - FINANCIAL STATEMENT FOR 2022

ABC TRANSPORT PLC

RC No 219970

Km 5 MCC Road, Umuoba, Uratta P.O. Box 2575, Owerri, Imo State, Nigeria Tel:[phone],[e-mail]

Directors:Prince Olumide Obayomi(Chairman);Kabiru Yusuf;Mr Bamidele Asije;

John Okoro; Jude Nneji; Frank Nneji(MD/CEO)

TABLE OF CONTENTS

CONSOLIDATED AND SEPARATE STATEMENT OF COMPREHENSIVE INCOME	-1
CONSOLIDATED AND SEPARATE STATEMENT FOR APRIL TO JUNE 2022	-	-2
CONSOLIDATED AND SEPARATE STATEMENT OF CASH FLOW -	-	-	-4
CONSOLIDATED AND SEPARATE CHANGES IN EQUITY	-	-	-	-	5-6
CONSOLIDATED AND SEPARATE NOTE 1	-	-	-	-	-	-	7-8
CONSOLIDATED AND SEPARATE NOTES 2-21 -	-	-	-	-	-	9-16
SEGMENT REPORT	-	-	-	-	-	-	-	-	-	17-18
DISCLOSURES 1-18 -	-	-	-	-	-	-	-	-	-	19-24

ABC TRANSPORT PLC

CONSOLIDATED AND SEPARATE STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE HALF YEAR ENDED JUNE 30, 2022

CONTINUING OPERATIONS	Note		GROUP	COMPANY
		2022	2021	2022	2021
		=N='000	=N='000	=N='000	=N='000
Revenue	14	3,672,996	3,025,253	2,486,808	2,176,404
Cost of sales	16	-2,947,905	-2,397,695	-1,997,662	-1,902,575
Gross profit		725,091	627,558	489,146	273,828
Admistrative expenses	17	-734,975	-664,476	-567,506	-510,917
Other operating income	15	48,800	30,102	30,644	23,274
Interest income	18	85	252		252
Net fair value gains/(losses) on	18	393	551	393	1
Other gains and losses	19	75,897	110,194	58,331	37,769
Financing costs	20	-109,867	-89,176	-71,310	-77,578
Profit before taxation		5,425	15,006	-60,301	-253,370
Income tax expenses(provision)	11	-64,648	-112,898	-31,770	-10,882
Profit from continuing		-59,223	-97,892	-92,071	-264,252
Attributable to:
Equity shareholders		-86,126	-194,111	-92,071	-264,252
Non-controlling interests		26,902	96,217
		-59,224	-97,893	-92,071	-264,252
items that will be reclassified
subsequently to profit or loss:
Foreign exchange translation		27,648	-13,197
items that may not be
Net actuarial gains/(losses) on
others
Attributable to:		-31,576	-111,090	-92,071	-264,252
Equity shareholders		-58,754	-207,176	-92,071	-264,252
Non-controlling interests		27,178	96,085
		-31,576	-111,090	-92,071	-264,252
Basic earnings per share(kobo)		-3.57	-5.91	-5.55	-15.94
			1

ABC TRANSPORT PLC CONSOLIDATED INCOME STATEMENT FOR APRIL TO JUNE 30, 2021

	Note
CONTINUING OPERATIONS
Revenue	14
Cost of sales	16
Gross profit
Admistrative expenses	17
Other operating income	15
Interest income	18
Net fair value gains/(losses) on
Impairment losses	-
Other gains and losses
Financing costs	20
Profit before taxation
Income tax expenses(provision	11
Profit from continuing

Attributable to: Equity

Non-controlling interests

Gains/(losses on revaluation of Foreign exchange translation Net actuarial gains/(losses) on foreign exchange gains/(losses) others

Total comprehensive

Attributable to: Equity

Non-contolling interests

			APR-JUNE
	APR-JUNE 2022	2021
	Group		Group
	=N='000		=N='000
	1,804,230	1,670,342
	-1,384,773	-1,313,019
	419,457	357,323
	-373,054	-348,765
	32,423	8,676
	19	252
	162	-55
	-2,536	93,837
	-64,935	-48,004
	11,535	63,265
	-18,890	-88,081
	-7,355	-24,816
	-17,447	-94,814
	10,092	69,993
	-7,355	-24,820
	7,568	-13,145
	213	-37,965
	-9,955	-107,827
	10,168		69,861
	213	-37,965
	2

ABC TRANSPORT PLC

CONSOLIDATED AND SEPARATE STATEMENTS OF FINANCIAL POSITION FOR THE HALF YEAR ENDED JUNE 30, 2022

Non-current assets	Note
		GROUP		COMPANY
		2022	2021	31.12.2021	2022	2021
		=N='000	=N='000	=N='000	=N='000	=N='000
Deferred tax assets		59,864	59,864	60,543	59,864	59,864
Goodwill
Other intangible assets	12	27,852	15,828	26,718	27,622	15,485
Property, plant and	1	2,956,834	3,106,617	3,014,527	2,021,994	2,290,501
Right of use assets		46,200		43,785
Investment in subsidiaries					41,470	41,470
Other investments		1,845	1,845	1,845	1,845	1,845
Financial Assets-FVOCI		16,755	15,760	16,362	16,755	15,760
Finance lease receivables
Current assets		3,109,349	3,199,914	3,163,780	2,169,550	2,424,925
inventories	2	855,364	678,999	761,815	256,036	200,339
Finance lease receivables		497			497
Trade and other Receivables	4	272,416	812,047	319,225	68,673	317,998
Other current assets	5	1,330,491	1,015,598	1,459,345	337,676	254,853
Cash and cash equivalents	6	123,840	282,945	375,448	54,254	60,942
Non-current assets HFS	3
Current tax asset		1776	1,722	1776
Total assets		2,584,383	2,791,311	2,917,609	717,135	834,132
Equity		5,693,733	5,991,224	6,081,389	2,886,685	3,259,057
Issued share capital		828,850	828,850	828,850	828,850	828,850
Share premium		558,916	575,391	558,916	558,916	575,391
General reserve		-856,604	-233,250	-770,478	-893,851	-802,265
Accumulated OCI		54,634	-89,843	27,262	18,188	18,188
Total equity shareholders'		585,796	1,081,148	644,550	512,103	620,164
Non-controlling interests		441,653	345,605	414,475
Total equity		1,027,449	1,426,754	1,059,025	512,103	620,164
Non -current liabilities
Non current Borrowings	10a	1,029,570	238,046	224,384	765,639	105,872
Finance lease obligations
Post employment benefits-	13	151,100	207,840	171,733	149,261	204,876
Provisions	9	67,778	77,134	78,713	67,778	77,134
Deferred tax liabilities		27,695	27,695	27,695
Current liabilities		1,276,143	550,715	502,525	982,678	387,882
current Borrowings	10b	222,375	822,585	753,218	119,041	573,813
Finance lease obligations
Post employment benefits-		313,157	288,575	295,653	313,157	288,575
Current taxation liabilities	11	407,630	259,219	361,302	175,511	34,813
Trade and other payables	7	2,268,012	2,170,095	2,661,273	684,080	1,079,334
Deferred income	8	128,568	73,691	125,800	100,115	73,691
Bank overdraft		50,399	399,590	322,595		200,784
Total equity and liabilities		3,390,141	4,013,756	4,519,841	1,391,904	2,251,010
	5,693,733	5,991,224	6,081,391	2,886,684	3,259,056

The consolidated financial statements were approved by the Board of Directors on 25th July 2022 and signed on its behalf

Managing Director/CEO FRC/2015/00000011771

Chief Financial Officer FRC/2014/ICAN/00000007350

The accompany notes and statement of significant accopunting policies form an integral part of these consolidated financial statements

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