Balance Sheet as at 30 April, 2010
Fixed assets
9,164,486
5,201,652
Long term investment
53,094
152,108
Goodwill
2,318,436
2,318,436
Stocks and work in progress
3,762,485
5,876,043
Trade receivables and prepayments
9,104,211
8,670,230
Due from related parties
5,372
5,220
Cash at bank and in hand
1,866,091
1,287,880
Trade and other payables
4,400,335
3,201,839
Short term borrowings
10,399,164
9,424,606
Due to related parties
31,364
Net current (liabilities) / assets
1,072,931,305
2,771,584
Total assets less current liabilities
10,725,497
10,443,780
Long term borrowings
713,266
Provision for gratuity
65,112
49,194
Deferred tax liability
81,937
188,793
Net assets
10578448
9492527
Share capital
2,200,000
2,200,000
Share premium
6,069,652
6,069,652
Revaluation reserve
316,022
316,022
Retained earnings
1,399,071
642,684
Foreign exchange translation reserve
17,077
-12,137
Non controlling interest
576,626
276,306
Capital employed
10,578,448
9,492,527
For the year ended 30 April 2010
Cost of sales
1,060,635,069
1,064,698,163
Gross profit
4,141,147
2,296,725
Administrative expenses
-1,986,856
1,072,835,535
Operating profit
2,154,291
1,390,436
Finance cost
1,072,343,973
-451,162
Other income
17,927
487,161
Provision for impairment on investments
-99,014
Profit before taxation
675,353
1,426,435
Profit after taxation before extra ordinary item
553,707
1,047,718
Extra ordinary Item (net of associated taxes)
661,606
Profit after taxation and extra ordinary item
1,215,313
1,047,718
Non controlling interest
-238,926
-259,080
Profit attributable to members
976,387
788,638
Basic earnings per share (Naira)
0
0
For the period ended 30 April 2010
Net cash inflow / (outflow) from operating activities
5501766
-6908941
Cash flow from investing activities:
Purchase of fixed assets
1,067,963,086
1,068,889,101
Proceed from the sale of investments
18,724
Purchase of subsidiary undertakings
1,071,169,731
Proceeds from sale of land
2,160,347
550
Proceeds from sale of other fixed assets
180
Interest received
20,003
463,806
Net cash outflow from investing activities
-3598208
-6941736
Cash flow from financing activities
Payments from related party
31,212
945,870
Loan from banks
974,558
7,396,184
Issue of share capital (net of expenses)
7,151,052
Interest paid
1,072,343,973
-451,162
Net cash (outflow)/inflow from financing activities
-1325347
15041944
Cash and cash equivalents
Increase/(decrease) in cash and cash equivalents
578,211
1,191,267
Cash and cash equivalents brought forward
1,287,880
96,613
Cash and cash equivalents carried forward
1866091
1287880
Cash and cash equivalents comprise:
Cash at bank and in hand
1,866,091
1,287,880
Investment Valuation Ratios
Operating Profit Per Share (Rs)
0
Operating Profit Margin(%)
Gross Profit Margin(%)
0.24%
Return On Capital Employed(%)
-0.17%
Return On Net Worth(%)
0.11%
Liquidity And Solvency Ratios
Working Capital
1,072,931,305