LEARN AFRICA : QUARTER 2 - FINANCIAL STATEMENT FOR 2023

Learn Africa Plc

Quarter 1 Unaudited Financial Statement 1st April 2022 to 30th September 2022

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Contents

Statement of Comprehensive Income	3
Statement of Financial Position	4
Statement of Changes in Equity	5
Statement of Cash Flow	6
Notes to the Financial Statements	7
Free Float Computation	10

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LEARN AFRICA PLC

Statement of Profit or loss and other Comprehensive Income

For period ended 30 September

2022	2021 Q2	2021 Q2			2022 Q2	2022 Q2
MARCH	APR - SEPT	JULY - SEPT			APR - SEPT JULY - SEPT
N'000	N'000	N'000		NOTE	N'000	N'000
3,698,162	779,815	543,727	Revenue	1	1,349,508	1,119,909
(1,964,344)	(324,046)	(214,608)	Cost of sales		(542,428)	(437,417)
1,733,818	455,769	329,119	Gross profit		807,080	682,492
59,909	2,418	2,418	Other operating income		32,964	20,074
(480,376)	(155,390)	(101,802)	Selling and distribution costs		(174,658)	(78,516)
(725,862)	(429,245)	(280,330)	Administrative expenses		(498,270)	(258,715)
587,489	(126,447)	(50,594)	Operating Profit		167,116	365,335
(13,451)	-	-	Finance costs		(10,219)	(10,219)
198	15	15	Finance income		357	137
574,236	(126,432)	(50,579)	Profit before tax		157,254	355,253
(172,654)	-	-	Income tax		(47,176)	(106,576)
401,582	(126,432)	(50,579)	Profit for the Period		110,078	248,677

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LEARN AFRICA PLC
STATEMENT OF FINANCIAL POSITION
		2022	2022
			SEPTEMEBER		MARCH
DESCRIPTION	NOTE		N'000		N'000
Assets
Non- current assets
Property and equipment	2	436,675		365,161
Investment properties		290,000		290,000
Right of use assets		23,567		6,683
Intangible asset		1,011		3,995
Deferred tax asset		228,013			228,013
		979,266		893,853
Current assets
Inventories	3	2,474,474		2,029,152
Trade and other receivables	4	1,138,957		1,710,125
Other current assets	5	42,793		36,698
Cash and short- term deposits	6	306,695			274,775
		3,962,919			4,050,750
Total assets		4,942,185		4,944,603
Equity and liabilities
Equity
Issued share capital		385,725		385,725
Share premium		1,940,214		1,940,214
Other capital reserves		67,703		67,703
Retained earnings			1,123,968		1,121,004
Total equity		3,517,610	3,514,646
Current liabilities
Trade and other payables	7	1,258,427		1,236,338
Income tax payable		16,148		193,619
Interest bearing loans and borrowings	150,000			-
Total Liabilities		1,424,575			1,429,957
Total equity and Liabilities		4,942,185		4,944,603

The Financial Statements was approved by the Board of Directors on 27 October 2022 and signed on their behalf by:

Alhaji Hassan Bala	Ojeile Cordelia (Mrs)
Managing Director	Finance Director
(FRC/2016/IODN/00000015071)	(FRC /2014/ICAN/00000002038)

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LEARN AFRICA PLC

STATEMENT OF CHANGES OF EQUITY

FOR PERIOD ENDED 30 SEPTEMBER 2022

					OTHER
	ISSUED		SHARE		CAPITAL		RETAINED
	CAPITAL		PREMIUM		RESERVES		EARNINGS		TOTAL
	N'000		N'000		N'000		N'000		N'000
As at 1 April 2021	385,725	1,940,214	67,703	835,139	3,228,781
Profit for the period	-	-	-	401,582	401,582
Dividend	-	-	-	(115,717)	(115,717)
As at March 2022	385,725	1,940,214	67,703	1,121,004	3,514,646
As at 1 April 2022	385,725	1,940,214	67,703	1,121,004	3,514,646
Profit for the period	-	-	-	157,254	157,254
Dividend	-	-	-	(154,290)	(154,290)
As at September 2022	385,725	1,940,214	67,703	1,123,968	3,517,610

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