LEARN AFRICA : YEAR END - FINANCIAL STATEMENT FOR 2023

Learn Africa Plc

Unaudited Financial Statement

For Fourth Quarter End 31st March 2023

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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 Year ended 31 March 2023

2021/22 Q4	2021/22 Q4			2022/23 Q4	2022/23 Q4
APR - MAR	JAN - MAR			APR - MAR	JAN - MAR
N'000	N'000		NOTE	N'000	N'000
3,698,162	1,437,480	Revenue	1	3,472,592	612,917
(1,964,344)	(995,679)	Cost of sales		(1,570,345)	(412,571)
1,733,818	441,801	Gross profit		1,902,247	200,346
59,909	35,491	Other operating income		44,535	7,332
(480,376)	(243,809)	Selling and distribution costs		(409,909)	(105,116)
(725,862)	(88,749)	Administrative expenses		(874,297)	(173,698)
587,489	144,734	Operating Profit/ (Loss)		662,576	(71,136)
(13,451)	(4,676)	Finance costs		(14,226)	-
198	138	Finance income		10,746	7,552
574,236	140,196	Profit/(Loss) before tax		659,096	(63,584)
(172,654)	(44,863)	Income tax		(210,911)	20,347
401,582	95,333	Profit/(Loss) for the year		448,185	(43,237)
52.06		Earnings per share		58.10

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LEARN AFRICA PLC

STATEMENT OF FINANCIAL POSITION

AS AT 31st MARCH 2023

		2023	2022
		MARCH		MARCH
	NOTE	N'000		N'000
Assets
Non- current assets
Property and equipment	2	457,170	365,162
Investment properties		305,000	290,000
Right of use assets		32,576	6,683
Intangible asset		-	3,995
Deferred tax asset		228,013		228,013
		1,022,761	893,853
Current assets
Inventories	3	2,220,423	2,029,152
Trade and other receivables	4	738,984	1,710,125
Prepayments	5	24,103	36,698
Cash and short- term deposits	6	1,031,999		274,775
		4,015,509		4,050,750
Total assets		5,038,270	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		1,414,899		1,121,004
Total equity		3,808,541	3,514,646
Current liabilities
Trade and other payables	7	1,018,818	1,236,338
Income tax payable		210,911	193,619
Total Liabilities		1,229,729		1,429,957
Total equity and Liabilities		5,038,270	4,944,603

The Financial Statements were approved by the Board of Directors on 27 April 2023 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 MARCH 2023

					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						448,185	448,185
Dividend						(154,290)	(154,290)
As at 31st March 2023	385,725	1,940,214	67,703	1,414,899	3,808,541

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