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Ayrton Drug Manufacturing Limited HY 2014 financial results
 

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Ayrton Drug Manufacturing Limited HY 2014 financial results

Ayrton Drug Manufacturing Limited HY 2014 financial results

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Ayrton Drug Manufacturing Limited HY 2014 financial results Document Transcript

  • 1. Ayrton Drug Manufacturing Limited 2014 2013 Notes GH¢ GH¢ Revenue 13,801,449 11,864,936 Cost of Sales 2.1 (8,028,642) (7,125,602) Gross Profit 5,772,808 4,739,334 Other income 2.11 31,426 17,146 Administration and general expenses 2.2 (2,981,085) (1,776,583) Selling and distribution expenses 2.3 (2,176,446) (1,457,486) Operating Profit 646,703 1,522,411 Finance cost 2.4 (93,568) (17,684) Finance income 2.11 39,272 58,136 Profit before taxation 592,408 1,562,863 Income tax expense 2.5 (178,256) (413,964) Profit for the period 414,151 1,148,899 Earnings per share 0.0019 0.0053 UN-audited Statement of Comprehensive Income For the Second Quarter Ended 31st March, 2014
  • 2. Ayrton Drug Manufacturing Limited UN-audited Statement of Financial Position As at 31st March, 2014 2014 2013 Notes GH¢ GH¢ Non current assets Property, plant and equipment 2.6 6,814,644 5,630,092 Intangible assets 2.7 155,954 145,007 Investment in subsidiary 17,500 17,500 6,988,098 5,792,599 Current Assets - Inventories 2.8 10,329,723 7,020,969 Trade and other receivables 2.9 9,196,869 9,090,971 Income Tax Receivable 69,288 - Amounts due from related parties 2.9a 170,908 136,933 Cash and short term deposits 210 476,767 1,221,852 Total Current Assets 20,243,555 17,470,725 Total assets 27,231,653 23,263,324 Equity and liabilities Equity attributable to equity holders Stated capital 2.13 4,475,000 4,475,000 Other capital reserves 1,739,436 1,739,436 Income surplus 13,495,483 14,158,172 Total equity 19,709,919 20,372,608 Current liabilities - Trade and other payables 2.11 5,589,056 2,134,015 Amounts due to related parties 976,316 370,412 Income tax payable 2.5 - 261,266 Bank Overdraft 740,248 51,669 Total current liabilities 7,305,620 2,817,362 Non-current liabilities - Deferred tax liability 216,114 73,354 Total Liabilities 7,521,734 2,890,716 Total Equity and Liabilities 27,231,653 23,263,324 Signed Signed Director Director Daniel Apeagyei Kissi Richard Adu-Poku The financial statements do not contain untrue statements, misleading facts or omit material facts to the best of our knowledge
  • 3. Ayrton Drug Manufacturing Limited Statement of Changes in Equity For the Second Quarter Ended 31st March, 2014 Issued Capital Income surplus Other reserves Total GH¢ GH¢ GH¢ GH¢ 1st October 2014 4,475,000 13,081,332 1,739,436 19,295,768 Total recognized income and expense 414,151 414,151 Balance as at 31st December 4,475,000 13,495,483 1,739,436 19,709,919 Issued Capital Income surplus Other reserves Total GH¢ GH¢ GH¢ GH¢ 1st October 2013 4,475,000 13,009,273 1,739,436 19,223,709 Total recognized income and expense 1,148,899 1,148,899 4,475,000 14,158,172 1,739,436 20,372,608
  • 4. Ayrton Drug Manufacturing Limited UN-audited Cash Flow Statement For the Second Quarter Ended 31st March, 2014 2014 2013 GH¢ GH¢ Operating activities Profit before tax 592,408 1,562,863 Adjustment - - Adjustment to reconcile profit before tax to net cash flows: Depreciation of property, plant and equipment 350,218 316,854 Amortization 24,659 17,491 Loss on disposal of assets - - Operating profit before working capital changes 967,285 1,897,208 Working capital adjustments: Increase in inventory (3,312,789) (199,760) Increase/decrease in trade and other receivables (892,611) (1,099,077) Increase in amounts due from related parties (25,490) (8,436) Increase in amounts due to related parties 109,905 353,870 Increase/decrease in trade and other payables 2,717,660 500,515 Income tax paid (337,146) (637,670) Net cash flow from operating activities (773,185) 806,650 Investing activities Investment in Sierra Leone - - Proceeds from sale of property, plant and equipment - - Purchase of property, plant and equipment (512,697) (707,273) Purchase of intangible asset - Net cash flows from investing activities (512,697) (707,273) Financing activities Dividends paid to equity holders - - Fixed deposit redeemed - - - - Net (decrease)/increase in cash and cash equivalent (1,285,882) 99,376 Cash and cash equivalent at 1 October, 2013 1,022,402 1,070,807 Cash and cash equivalent at 31st March, 2014 (263,480) 1,170,183