ASHAKACEM PLC. NINE MONTHS (SEPTEMBER) 2015 INTERIM REPORT. STATEMENT .... 13,052,748. 13,338,818. (2.1)%. Net foreign e
ASHAKACEM PLC NINE MONTHS (SEPTEMBER) 2015 INTERIM REPORT
STATEMENT OF COMPREHENSIVE INCOME Continuing operations Revenue Cost of sales Gross income Selling and marketing expenses Administrative Expenses Current Operating Income
9mths 2015 (UNAUDITED)
9mths 2014 (UNAUDITED)
NGN'000
NGN'000
14,548,865 (9,328,961) 5,219,904 (187,412) (1,482,329) 3,550,163
17,286,724 (10,107,413) 7,179,311 (149,875) (1,884,109) 5,145,327
(15.8)% (7.7)% (27.2)% 25.0% (39.3)% (21.3)%
141,418 3,691,581 967,198
2,674 5,148,001 923,399
n.m. (28.2)% 4.7%
(211,566) 755,632
(384,429) 538,970
(44.9)% 40.1%
4,447,213 (748,287) 3,698,926
5,686,971 (1,321,301) 4,365,669
(21,8)% (43.4)% (15.3)%
3,698,926
4,365,669
(15.3)%
% CHANGE
Other gains/(losses) Other operating income / (expenses) Operating income Investment income Finance income Finance expenses Net finance costs Share of net income (loss) of associates Income before tax Tax expense Net Income from continuing operations Net income (loss) from discontinued operations NET INCOME of which attributable to: Owners of the parent Company(82.4)% Non- controlling interests (Minority Interest) (17.6)%
3,047,915
3,047,915
82.4%
651,011
651,011
17.6%
3,698,926
4,365,669
(15.3)%
0
0
0
0
0
0
3,698,926
4,365,669
(15.3)%
Non- controlling interests (Minority Interest) Basic earnings per share
165
195
(15.3)%
Diluted earnings per share
165
195
(15.3)%
NET INCOME Other comprehensive income/(losses) that will not reverse to P&L Acturial gains /(losses) on retirement benefit obligation remeasurement Tax on acturial gains /(losses) on retirement benefit obligation remeasurement Total comprehensive loss for the period of which attributable to: Owners of the parent Company
STATEMENT OF FINANCIAL POSITION
9mths 2015
FY 2014
Notes
NGN'000
NGN'000
3
49,643,854
49,747,587
% CHANGE
ASSETS
Property, plant and equipment
(0.2)%
Intangible assets
4
NON-CURRENT ASSETS
71,269
86,028
(17.2)%
49,715,123
49,833,615
(0.2)%
3,464,059
27.1%
23,165
20.5%
Inventories
5
4,320,943
Trade receivables
6
27,923
Other receivables
7
9,200,713
5,153,284
78.5%
Cash and cash equivalents
8
9,090,262
13,052,745
(30.3)%
22,639,841
21,693,256
4.4%
72,354,964
71,526,871
1.2%
1,119,727
1,119,727
0
Retained Earnings
52,833,763
50,141,905
5.4%
EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT COMPANY
53,953,490
51,261,632
5,3%
53,953,490
51,261,632
5,3%
CURRENT ASSETS Non-current Assets held for Sale TOTAL ASSETS EQUITY Share capital Share premium
Non controlling interest TOTAL EQUITY Deferred tax
9
9,639,329
9,739,781
(2.7)%
Retirement benefits obligation
10
1,344,213
2,396,845
(43.9)%
10,983,546
12,136,628
(9.5)%
NON-CURRENT LIABILITIES Trade payables
11
1,928,637
1,460,087
Other payables
12
4,435,574
5,915,909
Current tax payable
13
1,053,717
752,617
40.0%
7,417,928
8,128,613
(8.7)%
72,354,964
71,526,871
1.2%
9mths 2015 NGN'000
9mths 2014 NGN'000
% CHANGE
3,698,926
4,365,669
(15.3)%
3,698,926
4,365,669
(15.3)%
1,303,071 14,759 83,882 26,018 211,,566
1,292,144 13,442 154,710 (2,674) 384,429
0.8% 9.8% (45.7)% (1,073.0)% (44.7)%
(967,198)
(923,399)
4.7%
CURRENT LIABILITIES
32.1% (8.1)%
Liab. assoc with assets held for sale TOTAL EQUITY AND LIABILITIES STATEMENT OF CASH FLOW Income from continuing operations Net Income from discontinued operations Profit After Tax Adjustment to reconcile net income to net cash from operating activities: Depreciation Amortisation of Intangible Assets Retirement benefit obligation service cost Loss/(Gains) on disposals Finance cost Impact of reclassification to asset held for sale Investment income Income taxes
748,287
(43.3)% 1,321,302
Others Cash payment for financial expenses Change in operating working capital items, excluding financial expenses and income taxes
(1,296,614) (51,462)
(735,121) (69,631)
(6,166,241)
(3,765,156)
Net cash used in operating activities before impacts of financial expenses and tax Cash payments for financial expenses Income taxes paid
(2,777,928)
1,779,759
(256.1)%
(191,461)
(255,956)
(25.2)%
NET CASH GENERATED FROM OPERATING ACTIVITES
(2,586,467)
1,799,759
(243.7)%
Purchase/expenditure on items of PPE Advance on fixed asset suppliers Interest income Net cash outflow on acqusition of subsidiaries Investment income Proceed from disposal of Assets
(1,149,572)
(368,265)
(728,147)
106.7%
(1,007,754)
(940,570)
7.1%
(1,007,754)
(940,570)
7.1%
INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS
(3,692,488)
111,042
(3,425.3)%
Cash and cash equivalents at beginning of year Net foreign exchange difference
13,052,748
13,338,818
(2.1)%
CASH AND CASH EQUIVALENTS AT END OF THE PERIOD
9,090,262
13,449,860
(32.4)%
Interest paid Dividend paid Trasaction cost on shares issued Repayment of borrowings NET CASH PROVIDED (USED IN) BY FINANCING ACTIVITES
Balance as at January 1, 2014
63.7%
781,307
NET CASH PROVIDED (USED IN) BY INVESTING ACTIVITES
STATEMENT OF CHANGES IN EQUITY
76.3%. (26.9)%
Share capital
Share premium
Retained earnings
Other reserves
NGN'000
NGN'000
NGN'000
NGN'000
1,119,727
Net income for the period
Other Comprehensive income / (loss) - Revaluation surplus
Dividends paid
Total equity
NGN'000
46,042,313
47,162,040
4,566,667
4,566,667
473,495
473,495
(940,570)
(940,570)
Other Comprehensive income / (loss) Balance as at 31st December, 2014
1,119,727
-
50,141,905
-
51,261,632
Balance as at January 1, 2015
1,119,727
Net income for the period
Other Comprehensive income / (loss)
50,141,905
51,261,632
3,698,926
3,698,926
0
Dividends paid
0
(1,007,754)
(1,007,754)
52,833,077
53,952,804
Acqusition of subsidiaries using pooling of interest method
Others Balance as at 30th September, 2015
1,119,727
