Balance Sheet as at 31st December 2009
Fixed assets
9,975,242
9,056,190
Net Current (liabilities)/ assets
1,301,828
693,748
Non-current liabilities
-3,074,336
1,070,673,439
Share capital
1,891,649
1,891,649
Share premium
45,717
45,717
Reserves
6,265,367
4,744,187
Shareholders interests
8202734
6681553
For the year ended 31 December 2009
Turnover
44481277
37377492
Gross profit
17,388,840
13,016,943
Net operating expenses
1,063,414,031
1,065,197,177
Operating profit
6,497,551
4,472,295
Profit before taxation
5,661,052
4,144,849
Tax expense
1,072,174,594
-1,548,316
Profit after tax and before extraordinary item
4,093,822
2,596,533
Profit for the year
4093822
2596533
Earnings per share (Naira)
1
1
Net assets per share (Naira)
2
2
For the period ended 31 December 2009
Cash flows from operating activities
Cash generated from operations
6,645,350
5,639,113
Tax paid
1,072,796,151
-490,042
Retirement benefits paid
-529,862
-345,894
Net cash generated from operating activities
5169815
4803177
cash flows from investing activities
Purchase of fixed assets
-1,773,176
-1,188,740
Proceeds on disposal of fixed assets
33,034
19,507
Interest income
163,730
117,268
Net cash used in investing activities
-1576412
-1051965
Cash flows from financing activities
Dividends paid
1,071,169,183
1,072,790,605
Interest paid
1,073,110,387
-234,559
Net cash used in financing activities
-3204078
-1185778
Increase cash and cash equivalents
389,325
2,565,434
Movement in cash and cash equivalents
At start of year
91,411
1,071,267,801
At the end of the year
480736
91411
Investment Valuation Ratios
Investment Valuation Ratios
Operating Profit Per Share (Rs)
0
Operating Profit Margin(%)
Profit Before Interest And Tax Margin(%)
-4%
Return On Capital Employed(%)
Liquidity And Solvency Ratios
Cash Flow Indicator Ratios
Earning Retention Ratio
2%