LEARN AFRICA : QUARTER 3 - FINANCIAL STATEMENT FOR 2023

Learn Africa Plc

Unaudited Financial Statement

For Third Quarter End 31st December 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 31 December 2022

2021 Q3	2021 Q3			2022 Q3	2022 Q3
APR - DEC	OCT-DEC			APR - DEC	OCT-DEC
N'000	N'000		NOTE	N'000	N'000
2,260,682	1,480,867	Revenue	1	2,859,675		1,510,167
(968,665)	(644,619)	Cost of sales		(1,157,774)		(615,346)
1,292,017	836,248	Gross profit		1,701,901		894,821
24,418	22,000	Other operating income		37,203		4,239
(236,567)	(81,177)	Selling and distribution costs		(254,793)		(80,135)
(637,113)	(207,868)	Administrative expenses		(750,600)		(252,330)
442,755	569,203	Operating Profit		733,711		566,595
(8,775)	(8,775)	Finance costs		(14,226)		(4,007)
60	45	Finance income		3,194		2,837
434,040	560,475	Profit before tax		722,679		565,425
(138,893)	(179,352)	Income tax		(231,257)		(180,936)
295,147	381,123	Profit for the year		491,421		384,489
38.26	49.40	Earning per share		63.70	49.84

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LEARN AFRICA PLC

STATEMENT OF FINANCIAL POSITION

AS AT 31st DECEMBER 2022

		2022	2022
		DECEMBER		MARCH
	NOTE	N'000		N'000
Assets
Non- current assets
Property and equipment	2	419,698	365,161
Investment properties		290,000	290,000
Right of use assets		24,987	6,683
Intangible asset		233	3,995
Deferred tax asset		228,013		228,013
		962,931	893,853
Current assets
Inventories	3	2,387,893	2,029,152
Trade and other receivables	4	1,022,541	1,710,125
Prepayments	5	43,466	36,698
Cash and short- term deposits	6	677,649		274,775
		4,131,549		4,050,750
Total assets		5,094,480	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		1,458,135		1,121,004
Total equity		3,851,777	3,514,646
Current liabilities
Trade and other payables	7	996,020	1,236,338
Income tax payable		246,682	193,619
Total Liabilities		1,242,702		1,429,957
Total equity and Liabilities		5,094,480	4,944,603

The Financial Statements was approved by the Board of Directors on 26 January 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 31 st DECEMBER 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 year						401,582	401,582
Dividend						(115,717)	(115,717)
As at 31st 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						491,421	491,421
Dividend						(154,290)	(154,290)
As at December 2022.	385,725	1,940,214	67,703	1,458,135	3,851,777

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