Balance Sheet as at 31st December 2010
Fixed assets
15,742,539
16,696,409
Investment in Subsidiary
972,337
968,125
Stocks
15,960,376
14,094,044
Trade Debtors
5,958,702
5,946,265
Other debtors and prepayment
1,370,879
790,347
Amount due from related companies
16,048,892
16,040,286
Cash at bank and in hand
6,240,527
22,878,380
Trade creditors
9,794,006
14,003,672
Other creditors
2,283,300
3,586,800
Amount due to related companies
2,188,240
1,037,866
Due to related parties
4,980,105
15,117,202
Net current (liabilities) / assets
26,333,455
26,003,782
Total assets less current liabilities
43,048,331
43,668,316
Defered taxation
-1,661,572
1,072,288,895
Employees Gratuity
-491,722
-602,590
Net assets
40895037
41612797
Share capital
6,000,000
6,000,000
Share premium
6,320,524
6,320,524
Revenue reserve
28,574,513
29,292,273
For the year ended 31 December 2009
Cost of sales
1,001,858,648
1,012,106,273
Gross profit
18,098,323
20,760,161
Administrative expenses
-3,498,016
1,068,815,291
Other income
1,548,569
3,753,795
Operating profit
16,148,876
19,587,423
Interest paybale and Similar charges
-1,946
-491
Profit before taxation
16,146,930
19,586,932
Taxation
1,068,877,134
1,067,340,491
Profit after taxation transfer to revenue reserve
11,282,240
13,185,599
Basic earnings per share (Naira)
94
110
For the period ended 31 December 2009
Cash flows from operating activities
Cash received from customers
90,063,970
81,860,199
Cash payments to suppliers and employees
994,443,571
1,001,105,140
VAT paid
1,072,301,249
1,072,669,637
Tax Paid
1,058,948,680
-50,128
Net cash flow from operating activities
-5468002
8101200
Cash flows from investing activities
Investment in Subsidiary
-4,212
-93,870
Purchase of fixed assests
-616,624
-4,510,976
Proceeds on disposal of fixed assets
3,117
Interest received
1,452,661
3,744,621
Net cash used in investing activities
831825
-857108
Cash flows from financing activities
Net cash outflow from financing activities
-12001946
-4200491
Increase/(decrease) in cash and cash equivalents
1,057,103,701
3,043,601
Cash and cash equivalents at 1 january
22,878,380
19,834,779
Cash and cash equivalents, end of year
-6240257
-22878380
Investment Valuation Ratios
Operating Profit Per Share (Rs)
Operating Profit Margin(%)
0.18%
Gross Profit Margin(%)
0.20%
Return On Capital Employed(%)
0.38%
Return On Net Worth(%)(ROE)
0.00%
Cash Flow Indicator Ratios
Gross Profit Margin (%)
0.20%
Liquidity And Solvency Ratios
Working Capital
26,333,455