TOTALENERGIES MARKETING NIGERIA PLC- QUARTER 3 - FINANCIAL STATEMENT FOR 2021

10/28/2021 | 10:28pm EDT

TOTALENERGIES MARKETING NIGERIA PLC

UNAUDITED FINANCIAL STATEMENT

30 September, 2021

Contents	Page
Results at a glance	1
Statement of financial position	2
Statement of profit or loss and other comprehensive income	3
Statement of changes in equity	4
Statement of cash flows	5
Notes to the financial statements	6

TOTALENERGIES MARKETING NIGERIA PLC

RESULTS AT A GLANCE
FOR THE PERIOD ENDED	30 September		30 September
	2021		2020		Change
	₦'000		₦'000	%
Revenue	242,224,249	151,707,143	60
Profit before minimum and income taxation	19,723,246	912,886	2,061
Profit for the year	13,386,101	500,119	2,577
Share capital	169,761	169,761	-
Shareholders' funds	38,141,687	26,544,166	44
Total dividend	1,358,087	-
Interim dividend - proposed	1,358,087	-

	30 September		30 September
	2021		2020		Change
PER SHARE DATA:				%
Based on 339,521,837 ordinary
shares of 50 kobo each:
Earnings per 50 kobo share (Naira) - basic	39.43	1.47	2,577
Dividend per 50 kobo share (Naira) 1	4.00	0.00	-
Dividend cover (times)	9.86	0.00	-
Stock exchange quotation (Naira)	192.00	97.50	97

Number of staff	434	439	(1)

TOTALENERGIES MARKETING NIGERIA PLC

STATEMENT OF FINANCIAL POSITION
AS AT		30 September		31 December
		2021	2020
	Notes	₦'000		₦'000
Non-current assets
Property, plant and equipment	16	33,013,902	36,207,654
Right-of-use assets	17 (i)	7,476,314	8,189,839
Intangible assets	15	135,531	142,420
Witholding tax receivables	11.2.1	433,774	433,774
Trade and other receivables	19.1	1,978,780		2,326,547
Total non-current assets		43,038,301	47,300,234
Current Assets
Inventories	18	29,640,047	21,619,936
Witholding tax receivables	11.2.1	762,915	1,212,223
Trade and other receivables	19	62,752,562	41,335,763
Prepayments	20	949,629	1,130,452
Cash and cash equivalents	24	60,668,585		31,014,277
Total current assets		154,773,738		96,312,651
Total assets		197,812,039	143,612,885
Equity

Share capital	23	169,761	169,761
Retained earnings		37,971,926		27,981,218
Total equity		38,141,687	28,150,979
Non-current liabilities
Deferred tax liabilities	11.3	4,563,432	4,503,670
Lease liabilities	21 (ii)	311,172	498,810
Employee benefits	12	662,125		641,174
Total non-current liabilities		5,536,729	5,643,654
Current liabilities
Current tax liabilities	11.2	5,732,381	438,797
Loans and borrowings	21 (i)	32,279,010	32,614,323
Employee benefits	12	67,159	67,159
Trade and other payables	22	112,764,845	73,485,400
Deferred income	22.2	2,969,408	2,698,297
Lease liabilities	21 (ii)	320,820		514,276
Total current liabilities		154,133,624		109,818,252
Total liabilities		159,670,352		115,461,906
Total equity and liabilities		197,812,039	143,612,885

These financial statements were approved by the Board of Directors of the Company on 28 October 2021 and signed on behalf of the Board by:

Lesley Green - Executive Director

FRC/2020/003/00000020680

Additionally certified by:

Samson Eghwerehe - Head of Finance

FRC/2018/ICAN/00000018952

The notes form an integral part of these financial statements.

TOTALENERGIES MARKETING NIGERIA PLC

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

FOR THE PERIOD ENDED

		For the three months ended		For the nine months ended
		30 September		30 September		30 September	30 September
		2021	2020	2021	2020
	Notes	₦'000		₦'000		₦'000	₦'000
Revenue	6	90,891,011	45,002,199	242,224,249	151,707,143
Cost of sales	10	(75,809,473)		(36,372,724)		(201,639,024)	(130,677,602)
Gross profit		15,081,538	8,629,475	40,585,225	21,029,541
Other income	9.1	1,179,774	372,902	3,653,580	1,152,300
Other expenses	9.2	-	(59,909)	-	(301,609)
Selling & distribution costs	10	(827,487)	(734,833)	(2,433,791)	(2,407,489)
Administrative expenses	10	(7,264,514)	(6,042,452)	(21,042,117)	(17,890,237)
Impairment loss on trade receivables	27 (iv)	(43,898)		(166,883)		(111,515)	(301,018)
Operating profit		8,125,413		1,998,300		20,651,382	1,281,488
Finance income	8	251,574	49,654	346,181	2,197,238
Finance costs	8	(432,307)		(611,170)		(1,274,317)	(2,565,841)
Net finance costs		(180,733)		(561,516)		(928,136)	(368,603)
Profit before minimum taxation		7,944,679	1,436,784	19,723,246	912,886
Minimum taxation	11.1.3	-		108,476		-	(164,546)
Profit before income taxation		7,944,679	1,545,260	19,723,246	748,340
Income taxation	11.1.1	(2,624,169)		(507,953)		(6,337,145)	(248,221)
Profit for the year		5,320,510	1,037,307	13,386,101	500,119
Other comprehensive income		-		-		-	-
Total comprehensive income for the year		5,320,510	1,037,307	13,386,101	500,119
Earnings per share

Basic and diluted earnings per share	14	15.67	3.06	39.43	1.47

The notes form an integral part of these financial statements.

This is an excerpt of the original content. To continue reading it, access the original document here.

Attachments

Disclaimer

Total Nigeria plc published this content on 29 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 October 2021 02:27:04 UTC.

TOTALENERGIES MARKETING NIGERIA PLC

TOTALENERGIES MARKETING NIGERIA PLC- QUARTER 3 - FINANCIAL STATEMENT FOR 2021

Send by mail :