DAAR COMMUNICATIONS PLC Address: No.1 Ladi Lawal Drive, Kpaduma Hills, Off Gen. T.
Y. Danjuma Street, Asokoro, Abuja.
DAAR COMMUNICATIONS PLC
STATEMENT OF FINANCIAL POSITION AS AT 30TH JUNE, 2023
June, | Dec, | ||
ASSETS | 2023 | 2022 | |
NON CURRENT ASSETS | N'000 | N'000 | |
7,180,45 | 7,350,31 | ||
PROPERTY,PLANT & EQUIPMENT | 1 | 3 | |
OTHER INTANGIBLE ASSETS | 23,670 | 24,566 | |
INVESTMENT - MTS | 97,000 | 97,000 | |
1,882,66 | 1,882,66 | ||
DEFERRED TAX ASSETS | 4 | 4 | |
9,183,78 | 9,354,54 | ||
4 | 3 | ||
CURRENT ASSETS | |||
2,819,42 | 2,726,24 | ||
TRADE RECEIVABLES | 5 | 7 | |
OTHER DEBTORS & | |||
PREPAYMENTS | 3 | 265,827 | 205,621 |
CASH & CASH EQUIVALENTS | 4 | 204,255 | 163,800 |
3,289,50 | 3,095,66 | ||
TOTAL CURRENT ASSETS | 7 | 8 | |
12,473,2 | 12,450,2 | ||
TOTAL ASSETS | 91 | 11 | |
EQUITY AND LIABILITIES | |||
CAPITAL AND RESERVES | |||
4,000,00 | 4,000,00 | ||
SHARE CAPITAL | 5 | 0 | 0 |
SHARE PREMIUM | 13,411,5 | 13,411,5 |
41 | 41 | |||
- | - | |||
15,534,6 | 15,198,2 | |||
RETAINED EARNINGS | 6 | 91 | 35 | |
1,876,85 | 2,213,30 | |||
TOTAL EQUITY | 0 | 6 | ||
Non-Current Liabilities | ||||
Accrued Gratuity | 7 | 847,793 | 817,036 | |
Total Non-Current Liabilities | 847,793 | 817,036 | ||
CURRENT LIABILITIES | ||||
SURBORDINATED LOAN | 220,657 | 275,875 | ||
1,119,69 | ||||
TRADE PAYABLES | 7 | 954,026 | ||
7,735,58 | 7,503,75 | |||
OTHER PAYABLES | 8 | 1 | 5 | |
TAXATION | 9 | 672,714 | 686,213 | |
9,748,64 | 9,419,86 | |||
TOTAL CURRENT LIABILITIES | 8 | 9 | ||
12,473,2 | 12,450,2 | |||
TOTAL EQUITY AND LIABILITIES | 91 | 11 |
Dated 25th July, 2023
Tony A. Akiotu | Stanley Sagboje |
GMD/CEO | ED, Finance & Accounts/CFO |
FRC/2014/NIM/0000000895 | FRC/2016/ICAN/00000015580 |
DAAR COMMUNICATIONS PLC
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE QUARTER ENDED 30TH. JUNE 2023
Three | Three | |||
Six mths | mths to | Six mths | mths to | |
to June. | June. | to June. | June, | |
2023 | 2023 | 2022 | 2022 | |
N'000 | N'000 | N'000 | N'000 | |
2,317,9 | 2,271,00 | 1,079,2 | ||
Revenue | 81 | 946,046 | 9 | 21 |
- | - | |||
1,628,8 | (927,87 | 1,531,83 | - | |
Cost of Sales | 92 | 5) | 6 | 833,773 |
Gross Profit | 689,089 | 18,170 | 739,173 | 245,448 |
Other Income | 129,057 | 127,307 | 57,658 | -22,734 |
818,146 145,477 796,831 222,715
Selling Expenses | -80,546 | (40,784) | -30,619 | -14,281 |
- | ||||
1,068,3 | (582,91 | - | ||
Administration Expenses | 00 | 3) | -980,893 | 459,768 |
Finance Charges | -5,755 | (2,831) | -25,869 | -8,429 |
- | (481,05 | - | ||
PROFIT BEFORE TAXATION | 336,456 | 1) | -240,550 | 259,763 |
TAXATION | 0 | - | 0 | 0 |
- | (481,05 | - | ||
PROFIT/(LOSS) FOR THE YEAR | 336,456 | 1) | -240,550 | 259,763 |
EPS in kobo | -4 | (6) | -3 | -3 |
DAAR COMMUNICATIONS PLC | ||||
STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED JUNE 30, 2023 | ||||
RETAIN | ||||
SHARE | SHARE | ED | ||
CAPITA | PREMIU | INCOM | ||
L | M | E | TOTAL | |
N'000 | N'000 | N'000 | N'000 | |
- | ||||
4,000,0 | 13,411,5 | 15,198,2 | 2,213,3 | |
BAL B/F | 00 | 41 | 35 | 06 |
PRIOR YEAR | 0 | 0 | ||
PROFIT FOR THE PERIOD TO | - | |||
JUNE | 0 | 0 | -336,456 | 336,456 |
- | ||||
4,000,0 | 13,411,5 | 15,534,6 | 1,876,8 | |
BALANCE AS AT JUNE 30, 2023 | 00 | 41 | 91 | 50 |
DAAR COMMUNICATIONS PLC | ||||
STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED JUNE 30, 2022 | ||||
RETAIN | ||||
SHARE | SHARE | ED | ||
CAPITA | PREMIU | INCOM | ||
L | M | E | TOTAL | |
N'000 | N'000 | N'000 | N'000 | |
- | ||||
4,000,0 | 13,411,5 | 14,504,9 | 2,906,6 | |
BAL B/F | 00 | 41 | 24 | 17 |
PROFIT FOR THE PERIOD TO | - | |||
JUNE | 0 | 0 | -240,550 | 240,550 |
- | ||||
4,000,0 | 13,411,5 | 14,745,4 | 2,666,0 | |
BALANCE AS AT JUNE 30, 2022 | 00 | 41 | 74 | 67 |
DAAR COMMUNICATIONS PLC | |||
STATEMENT OF CASH FLOWS | |||
FOR THE PERIOD ENDED 30TH, JUNE. 2023 | |||
June 30, | Dec 31, | ||
2023 | 2022 | ||
Cash flow from operating activities: | N'000 | N'000 | |
Profit/(Loss) before taxation | -207,399 | -755,824 | |
Add back items not involving movement of funds: | |||
Depreciation | 404,756 | 778,984 | |
Amortisation | 897 | 2,227 | |
Write down of deferred Tax assets | 0 | 913,423 | |
Impairment allowance on receivable | 149,304 | ||
Movements In Trade Receivables | -241,775 | ||
Finance cost | 5,755 | 19,817 | |
Other income | -129,057 | 0 | |
Gratuity | 30,756 | 56,115 | |
105,709 | 922,271 | ||
Working capital changes: | |||
(Increase) /Decrease in Trade Receivables | -93,178 | 431,874 | |
(Increase)/Decrease in Other Receivables and prepayments | -60,206 | -47,782 | |
Increase/(Decrease) in Trade and other payables | 397,496 | -604,325 | |
244,112 | -220,233 | ||
Tax Paid | -13,500 | -73,269 | |
Net cash from operating activities | 336,321 | 628,769 | |
Cash flows from investing activities: | |||
(Purchase)/Sale of fixed assets | -234,893 | -230,885 | |
Investment in DAAR Global Limited | 0 | 74,295 | |
Net cash used in investing | -234,893 | -156,590 | |
Cash flows from financing activities: | |||
Surbordinated Loan Repaid | -55,218 | -373,610 | |
Finance cost | -5,755 | -19,817 | |
Net Cash used in financing activities | -60,973 | -393,427 | |
Net(decrease)/increase in cash and cash equivalent | 40,455 | 78,752 | |
Cash and cash equivalents at 1 | |||
January | 163,800 | 85,048 | |
Cash and cash equivalents at 30th June | 204,255 | 163,800 | |
Represented by: | |||
Bank and cash balances | 204,255 | 163,800 | |
Cash and cash equivalents at 30th June | 204,255 | 163,800 |
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DAAR Communications plc published this content on 28 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2023 22:10:08 UTC.
