Lafarge Africa Plc
Unaudited Condensed Financial Statements
30 September 2021
Lafarge Africa Plc
Contents
Directors' and Other Corporate Information | 3 |
Consolidated and Separate Statements of Profit or Loss and Other Comprehensive Income | 4 |
Consolidated and Separate Statements of Financial Position | 5 |
Consolidated and Separate Statements of Changes in Equity | 6 |
Consolidated and Separate Statements of Cash Flows | 8 |
Notes to the Consolidated and Separate Financial Statements | 9 |
Lafarge Africa Plc
Directors' and Other Corporate Information
Company registration number
RC 1858
Directors | |
Mr. Adebode Adefioye | Chairman |
Mr. Khaled Abdel Aziz El Dokani (Egyptian) | Group Managing Director/CEO |
Mr. Lolu Alade-Akinyemi | Executive Director/CFO |
Mrs. Elenda Giwa-Amu | Non-Executive Director |
Mrs. Adenike Ogunlesi | Independent Non-Executive Director |
Mr. Grant Earnshaw (British) | Non-Executive Director |
Mrs. Karine Uzan Mercie (French) | Non-Executive Director |
Mr. Marco Licata (Italian) | Non-Executive Director |
Mr. Gbenga Oyebode, MFR | Independent Non-Executive Director |
Mrs. Oyinkan Adewale | Independent Non-Executive Director |
Mrs. Virginie Darbo (French) | Non-Executive Director |
Company Secretary | |
Mrs. Adewunmi Alode | |
Company Registered Office | |
Lafarge Africa Plc | |
27B, Gerrard Road, | |
Ikoyi, | |
Lagos | |
Registrar | |
Cardinal Stone (Registrars) Limited | |
[formerly City Securities (Registrars) Limited] | |
No 358, Herbert Macaulay Road, | |
Yaba, | |
Lagos | |
Independent Auditors | |
KPMG Professional Services | |
KPMG Tower, | |
Bishop Aboyade Cole Street, | |
Victoria Island, | |
Lagos | |
Principal Bankers | |
Access Bank Plc | |
Citibank Nigeria Limited | |
Ecobank Nigeria Limited | |
First Bank of Nigeria Limited | |
Guaranty Trust Bank Plc | |
Standard Chartered Bank Plc | |
Stanbic IBTC Bank Limited | |
United Bank for Africa Plc | |
Wema Bank Plc | |
Zenith Bank Plc | |
Union Bank of Nigeria Plc |
3
Lafarge Africa Plc
Consolidated and Separate Statements of Profit or Loss and Other Comprehensive Income for the period ended 30 September, 2021
Group | Company | ||||||||
3months ended | 3months ended | 9months ended | 9months ended | 3months ended | 3months ended | 9months ended | 9months ended | ||
30/09/2021 | 30/09/2020 | 30/09/2021 | 30/09/2020 | 30/09/2021 | 30/09/2020 | 30/09/2021 | 30/09/2020 | ||
Notes | N'000 | N'000 | N'000 | N'000 | N'000 | N'000 | N'000 | N'000 | |
Revenue | 3 | 74,181,632 | 59,337,096 | 219,197,595 | 179,877,441 | 66,477,828 | 53,380,502 | 196,496,352 | 158,912,864 |
Cost of sales | 4 | (58,311,880) | (45,320,285) | (155,241,958) | (123,541,523) | (51,730,211) | (39,300,994) | (135,656,147) | (105,055,468) |
Gross profit | 15,869,752 | 14,016,811 | 63,955,637 | 56,335,918 | 14,747,617 | 14,079,508 | 60,840,205 | 53,857,396 | |
Selling and marketing expenses | 5 | (1,067,280) | (1,261,101) | (2,520,698) | (2,810,657) | (1,067,280) | (1,261,101) | (2,520,698) | (2,810,474) |
Administrative expenses | 6 | (5,107,355) | (4,753,772) | (14,277,502) | (13,193,038) | (4,914,823) | (4,562,955) | (13,711,257) | (12,962,150) |
Other income | 7 | 202,419 | 256,435 | 495,803 | 810,470 | 52,595 | 217,182 | 205,299 | 771,217 |
Impairment reversal on receivables | 8.1 | 22,203 | 28,487 | 499,256 | 9,172 | 23,198 | 28,020 | 499,184 | 7,112 |
Other operating income/(expenses) | 8 | - | 14,827 | (13,970) | (41,026) | - | (41,026) | (13,970) | (41,026) |
Operating profit | 9,919,739 | 8,301,687 | 48,138,526 | 41,110,839 | 8,841,307 | 8,459,628 | 45,298,763 | 38,822,075 | |
Finance income | 9 (a) | 206,077 | 344,393 | 568,922 | 721,442 | 189,872 | 339,134 | 540,862 | 689,275 |
Finance costs | 9 (b) | (2,972,664) | (3,111,914) | (5,633,102) | (7,540,939) | (2,554,738) | (3,128,717) | (4,968,914) | (7,851,960) |
Gain on disposal of investment in Joint | 22.1 | - | - | 826,879 | - | - | - | 826,879 | - |
venture | |||||||||
Profit before tax | 7,153,152 | 5,534,166 | 43,901,225 | 34,291,342 | 6,476,441 | 5,670,045 | 41,697,590 | 31,659,390 | |
Income tax credit/(expense) | 10 | 4,918,860 | (666,936) | (3,506,628) | (6,094,855) | 5,573,100 | (656,015) | (2,725,458) | (5,117,707) |
Profit after tax for the period | 12,072,012 | 4,867,230 | 40,394,597 | 28,196,487 | 12,049,541 | 5,014,030 | 38,972,132 | 26,541,683 | |
Other comprehensive income: | |||||||||
Other comprehensive (loss)/income for | |||||||||
the period, net of tax | - | - | - | - | - | - | - | - | |
Total comprehensive income for the period | 12,072,012 | 4,867,230 | 40,394,597 | 28,196,487 | 12,049,541 | 5,014,030 | 38,972,132 | 26,541,683 | |
Profit attributable to : | |||||||||
- Owners | 12,072,012 | 4,867,230 | 40,394,597 | 28,196,487 | 12,049,541 | 5,014,030 | 38,972,132 | 26,541,683 | |
- Non-controlling interests | - | - | - | - | - | - | - | - | |
12,072,012 | 4,867,230 | 40,394,597 | 28,196,487 | 12,049,541 | 5,014,030 | 38,972,132 | 26,541,683 | ||
Total comprehensive income for the period | |||||||||
is attributable to: | |||||||||
- Owners | 12,072,012 | 4,867,230 | 40,394,597 | 28,196,487 | 12,049,541 | 5,014,030 | 38,972,132 | 26,541,683 | |
- Non-controlling interests | - | - | - | - | - | - | - | - | |
12,072,012 | 4,867,230 | 40,394,597 | 28,196,487 | 12,049,541 | 5,014,030 | 38,972,132 | 26,541,683 | ||
Earnings per share attributable to the | |||||||||
Basic earnings per share (Kobo) | 21 | 75 | 30 | 251 | 175 | 75 | 31 | 242 | 165 |
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Lafarge Africa Plc
Consolidated and Separate Statement of Financial Position as at 30 September, 2021
Group | Company | ||||
30 September | 31 December | 30 September | 31 December | ||
2021 | 2020 | 2021 | 2020 | ||
Notes | N'000 | N'000 | N'000 | N'000 | |
ASSETS | |||||
Non-current assets | |||||
Property, plant and equipment | 11 | 342,743,086 | 348,328,150 | 280,825,587 | 287,447,215 |
Intangible assets | 12 | 1,026,482 | 1,939,210 | 821,770 | 1,524,264 |
Investments in subsidiaries | 13.1 | - | - | 63,906,867 | 63,906,867 |
Investment in joint ventures | - | 379,432 | - | 379,432 | |
Other financial assets | 14 | - | 964,796 | - | 964,796 |
Other assets | 16 | 32,038,986 | 29,127,048 | 30,203,807 | 28,657,973 |
Deferred tax assets | 21,477,957 | 23,404,073 | 21,477,957 | 23,404,073 | |
Total non-current assets | 397,286,511 | 404,142,709 | 397,235,988 | 406,284,620 | |
Current assets | |||||
Inventories | 17 | 39,447,880 | 31,052,596 | 26,987,697 | 22,466,615 |
Trade and other receivables | 18 | 5,162,783 | 5,028,913 | 28,139,057 | 26,255,784 |
Other assets | 16 | 15,814,385 | 11,916,440 | 15,540,054 | 8,846,892 |
Other financial assets | 14 | 151,233 | 1,731,432 | 92,333 | 1,729,090 |
Derivative assets | - | 18,905 | - | - | |
Cash and cash equivalents | 19 | 54,505,201 | 53,322,980 | 45,874,024 | 39,749,715 |
Total current assets | 115,081,482 | 103,071,266 | 116,633,165 | 99,048,096 | |
Total assets | |||||
512,367,993 | 507,213,975 | 513,869,153 | 505,332,716 | ||
LIABILITIES | |||||
Non-current liabilities | |||||
Loans and borrowings | 23 | 3,292,756 | 5,139,600 | 1,059,337 | 2,774,394 |
Employee benefit obligations | 26 | 2,404,805 | 2,284,688 | 2,097,460 | 2,009,182 |
Deferred income | 25 | 1,432,942 | 1,683,008 | 1,151,258 | 1,234,307 |
Provisions | 24 | 1,952,590 | 1,510,577 | 968,308 | 817,124 |
Deferred tax liabilities | 9,031,155 | 9,401,523 | - | - | |
Total non-current liabilities | 18,114,248 | 20,019,396 | 5,276,363 | 6,835,007 | |
Current liabilities | |||||
Loans and borrowings | 23 | 19,153,579 | 44,593,230 | 18,704,899 | 44,458,963 |
Deferred income | 25 | 341,209 | 381,646 | 110,732 | 110,732 |
Trade and other payables | 27 | 85,614,116 | 76,857,775 | 89,416,271 | 76,438,447 |
Provisions | 24 | 2,919,030 | 2,644,965 | 2,645,113 | 2,405,497 |
Current tax liabilities | 2,300,508 | 3,078,461 | 876,506 | 1,109,137 | |
Total current liabilities | 110,328,442 | 127,556,077 | 111,753,521 | 124,522,776 | |
Total liabilities | |||||
128,442,690 | 147,575,473 | 117,029,884 | 131,357,783 | ||
EQUITY | |||||
Share capital | 20.1 | 8,053,899 | 8,053,899 | 8,053,899 | 8,053,899 |
Share premium | 20.2 | 435,148,731 | 435,148,731 | 435,148,731 | 435,148,731 |
Retained earnings | 194,851,730 | 170,579,540 | 147,314,618 | 124,464,893 | |
Foreign currency translation reserve | - | (14,611) | - | (14,611) | |
Other reserves arising on business combination and re- | (254,129,057) | (254,129,057) | (193,677,979) | (193,677,979) | |
organisations | |||||
Capital and reserves attributable to owners | 383,925,303 | 359,638,502 | 396,839,269 | 373,974,932 | |
Total equity | 383,925,303 | 359,638,502 | 396,839,269 | 373,974,932 | |
Total equity and liabilities | |||||
512,367,993 | 507,213,975 | 513,869,153 | 505,332,716 | ||
These financial statements were approved and authorised for issue by the board of directors on 27th October 2021 and were signed on its behalf by:
Adebode Adefioye | Khaled Abdel Aziz El Dokani | Lolu Alade-Akinyemi |
Chairman | Group Managing Director | Chief Financial Officer |
FRC/2017/IODN/00000016512 | FRC/2020/003/00000020762 | FRC/2020/001/00000020157 |
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Lafarge Africa plc published this content on 28 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 October 2021 10:52:07 UTC.