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DN Meyer Plc 3Q 2013 results

DN Meyer Plc 3Q 2013 results

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  • 1. DN MEYER PLC CONSOLIDATED UNAUDITED CONDENSED INTERIM FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30TH SEPTEMBER, 2013. 1
  • 2. DN MEYER PLC UNAUDITED CONDENSED INTERIM FINANCIAL STATEMENTS STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE THREE (3) MONTHS ENDED 30TH SEPTEMBER, 2013 Note Continuing operations Revenue Cost of sales 5 Gross profit Operating expenses 364,909 (228,654) 353,419 (218,661) COMPANY Three (3) Three Months Months Ended Ended 30/09/2013 30/09/2012 N'000 N'000 360,209 (224,548) 353,419 (218,661) 136,255 134,758 135,662 134,758 (122,264) Operating profit Investment income Other gains and losses Finance costs Profit/(Loss) before tax Taxation GROUP Three (3) Three (3) Months Months Ended Ended 30/09/2013 30/09/2012 N'000 N'000 (129,301) (121,408) (129,301) 13,991 7 8 5,457 14,253 5,457 2,489 1,692 (30,643) 4,883 (5,803) (33,075) (28,539) (12,209) (28,539) (1,313) (1,059) (1,313) (1,059) (13,784) (29,598) (13,522) (29,598) (13,784) (29,598) (13,522) (29,598) (13,773) (10) (13,784) Profit/(Loss) for the period 4,883 (5,803) (33,075) (12,471) 9.1 2,489 1,692 (30,643) (28,414) (28,414) (12,981) (12,981) (28,414) (13,773) (10) (13,784) (29,598) (29,598) (13,522) (13,522) (29,598) (3.99) (8.74) Other comprehensive income, net of income tax Defined benefit plan actuarial gain Total comprehensive income for the year Loss for the year attributable to: Owners of the Company Non-controlling interests Total comprehensive income for the year attributable to: Owners of the Company Non-controlling interests (28,414) (29,598) There is no other comprehensive income for the period, hence the profit for the year is equal to the total comprehensive income. Earnings per share Basic and diluted earnings per share 12 (4.24) (8.74)
  • 3. DN MEYER PLC UNAUDITED CONDENSED INTERIM FINANCIAL STATEMENTS STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE PERIOD ENDED 30TH SEPTEMBER, 2013 Note Continuing operations Revenue Cost of sales 5 Gross profit Operating expenses 1,085,543 (692,424) 1,048,034 (640,606) COMPANY 30/09/2013 30/09/2012 N'000 N'000 1,080,843 (688,318) 1,048,034 (640,606) 393,119 407,428 392,525 407,428 (368,209) Operating profit Investment income Other gains and losses Finance costs Profit/(Loss) before tax Taxation GROUP 30/09/2013 30/09/2012 N'000 N'000 (355,440) (364,750) (355,440) 24,910 7 8 24,951 88,377 (91,695) 51,988 11,735 20,714 (100,180) 27,775 24,951 88,377 (91,695) 51,988 11,735 20,714 (100,180) 46,543 49,408 (15,743) (3,177) (3,495) (3,177) (18,920) 45,914 (18,920) 43,048 (18,920) 45,914 (18,920) 43,163 (115) 43,048 Profit/(Loss) for the period (15,743) (3,495) 43,048 9.1 (18,163) (18,163) 44,077 44,077 (18,163) 43,163 (115) 43,048 (18,920) (18,920) 45,914 45,914 (18,920) 14.13 (5.82) Other comprehensive income, net of income tax Defined benefit plan actuarial gain Total comprehensive income for the year Loss for the year attributable to: Owners of the Company Non-controlling interests Total comprehensive income for the year attributable to: Owners of the Company Non-controlling interests (18,163) (18,920) There is no other comprehensive income for the period, hence the profit for the year is equal to the total comprehensive income. Earnings per share Basic and diluted earnings per share 12 13.25 (5.82)
  • 4. DN MEYER PLC UNAUDITED CONDENSED INTERIM FINANCIAL STATEMENTS STATEMENT OF FINANCIAL POSITION AS AT 30TH SEPTEMBER, 2013 Note GROUP 30/09/2013 31/12/2012 N'000 N'000 COMPANY 30/09/2013 31/12/2012 N'000 N'000 Non-current assets Property, plant and equipment Deferred tax asset 13 20 1,759,965 160,888 1,799,413 160,888 1,755,716 160,888 1,793,748 160,888 1,920,853 1,960,301 1,926,204 1,964,236 326,341 180,474 6,205 186,257 331,140 242,279 5,126 166,100 248,784 218,927 6,205 185,638 699,277 620,718 659,554 613,437 2,620,130 2,581,019 2,585,759 2,577,674 20 21 22.2 431,590 675,147 929 26,984 1,134,650 431,590 759,313 1,441 20,262 1,212,605 431,590 675,147 929 26,984 1,134,650 431,590 759,313 1,441 20,262 1,212,605 Trade and other payables Current tax liabilities 23 10.2 583,739 10,283 533,043 9,970 543,513 10,283 526,708 9,970 Short term borrowings Finance Lease Obligation 24 197,216 170,721 197,216 170,721 22.3 1,195 4,681 1,195 4,681 792,433 718,415 752,207 712,080 1,927,083 1,931,021 1,886,857 1,924,685 Total non-current assets Current assets Inventories Trade and other receivables Other assets Cash and cash equivalents 16 17 18 19 Total current assets Total assets Non-Current Liabilities Deferred taxation Borrowings Finance Lease Obligation Employment benefits 118,352 200,633 5,126 165,399 Current liabilities Total current liabilities Total liabilities Equity Share capital Share premium account Retained earnings 25 26 27 162,500 10,485 477,133 650,118 (120) 162,500 10,485 525,917 698,901 162,500 10,485 480,003 652,988 Non-controlling interest 162,500 10,485 520,296 693,281 (234) Total equity 693,046 649,998 698,901 652,988 2,620,130 2,581,019 2,585,759 2,577,673 Total equity attributable to owners of the company Total equity and Liabilities The condensed interim financial statements were approved by the board of directors and authorised for issue. They were signed on its behalf by:the Strategy, Finance and General Purpose Committee ADEOLA OMOSEBI - Director
  • 5. DN MEYER PLC UNAUDITED CONDENSED INTERIM FINANCIAL STATEMENTS CASHFLOW STATEMENT FOR THE PERIOD ENDED 30 SEPTEMBER, 2013 AS AT 30TH SEPTEMBER, 2013 Note GROUP 30/09/2013 31/12/2012 N'000 N'000 COMPANY 30/09/2013 31/12/2012 N'000 N'000 Cashflow from operating activities Cash receipt from customers Cash paid to suppliers and employees Cash generated from operations Net value added tax paid Income taxes paid 9 1,110,719 (947,341) 163,378 (7,785) 0 Net cash generated by operating activities 30 155,594 (54,673) 155,676 (63,872) (11,022) 24,951 - (24,172) 18,359 3,437 (11,022) 24,951 - (15,674) 18,359 3,437 Cashflow from investing activities Purchase of property, plant and equipment Interest received Proceeds from sale of Property, plant and equipment Net cash generated by investing activities 1,479,821 (1,500,666) (20,845) (29,592) (4,236) 1,149,847 (986,386) 163,460 (7,785) 0 1,372,885 (1,402,929) (30,044) (29,592) (4,236) 13,929 (2,376) 13,929 6,122 Cashflow from financing activities Dividends paid - - - - Net cash generated by financing activities - - - - Effect of exchange rates on cash - - - - Cashflow from financing activities Finance cost (91,695) (24,438) (41,257) 28,795 (20,771) Net cash generated by financing activities (115,559) 103,067 (83,322) (149,366) Longterm loan Longterm paid Working capital loan Working capital loan paid (115,559) 103,067 (83,322) 32,875 (91,695) (24,438) (41,257) 28,795 (20,771) (62,939) (149,366) (62,939) 32,875 Net increase/(decrease) in cash and cash equivalents 20,157 (119,988) 20,239 (120,689) Cash and cash equivalents at beginning of the year 166,100 286,088 165,399 286,088 186,257 166,100 185,638 165,399 Cash and cash equivalents at end of the period 19
  • 6. DN MEYER PLC UNAUDITED CONDENSED INTERIM FINANCIAL STATEMENTS STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED 30TH SEPTEMBER, 2013 The Group Share capital N Balance at 1 January 2011 IFRS 1 adjustment IFRS 1 adjustment (see Note 5.2) Restated balance 162,500 Share premium N 20,133 Revenue reserves N 162,500 - (20,133) Balance at 31 December 2011 Share of capital Loss for the period Non controlling interest N Total N 10,485 - 1,532,502 (1,138,236) 587,384 (1,532,502) 1,552,635 152,963 152,963 567,362 740,347 (64,093) 2,842 - Profit for the year Other comprehensive income Total comprehensive income Retained earnings N (64,093) 2,842 - 10,485 Capital reserves N 162,500 - - - (61,251) 10,485 - - - 506,111 (61,251) 679,096 - - (31,129) 2,151 (120) Other comprehensive income for the period (31,249) 2,151 Total comprehensive income - - (28,978) (120) (29,098) 10,485 477,133 (120) 649,998 43,163 (115) 43,048 - Balance at 31 December 2012 162,500 Loss for the period Other comprehensive income for the period Total comprehensive income Balance at 30 September 2013 162,500 - - - 43,163 (115) 43,048 10,485 - - 520,296 (235) 693,046 Capital reserves N Revenue reserves N The Company Share capital N Balance at 1 January 2011 IFRS 1 adjustment IFRS 1 adjustment (see Note 5.2) Restated balance 162,500 Share premium N 20,133 162,500 - (20,133) Balance at 31 December 2011 Share of capital Loss for the period Total N 10,485 - 1,532,502 (1,138,236) 587,384 (1,532,502) 1,552,635 152,963 152,963 567,362 740,347 (64,093) 2,842 - Profit for the year Other comprehensive income Total comprehensive income Non controlling interest N (64,093) 2,842 - 10,485 Retained earnings N 162,500 - - - (61,251) 10,485 - - - 506,111 (61,251) 679,096 - (28,259) 2,151 - Other comprehensive income for the period - (28,259) 2,151 Total comprehensive income - - (26,108) - (26,108) 10,485 480,003 - 652,988 45,914 - 45,914 - Balance at 31 December 2012 162,500 Loss for the period Other comprehensive income for the period Total comprehensive income Balance at 30 September 2013 162,500 - - - 45,914 - 45,914 10,485 - - 525,917 - 698,902