UAC of Nigeria PLC
Unaudited Condensed Consolidated Financial Statements for the 9 months period ended 30 September 2023
UAC of Nigeria PLC
Unaudited condensed consolidated financial statements for the 9 months period ended 30 September 2023
Content | Page |
Investor relations statement | 1 |
Unaudited financial statements | |
Condensed consolidated statement of profit or loss and other comprehensive income | 2 |
Condensed consolidated statement of financial position | 3 |
Condensed consolidated statement of changes in equity | 4 |
Condensed consolidated statement of cash flows | 5 |
Notes to the condensed consolidated financial statements | 6 |
Shareholding structure/free float status | 30 |
UAC of Nigeria PLC
Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income for the 9 months period ended 30 September 2023
3 months to | 9 months to | 3 months to | 9 months to | ||
September 2023 | September 2023 | September 2022 | September 2022 | ||
Notes | N'000 | N'000 | N'000 | N' 000 | |
Continuing operations | |||||
Revenue | 3 | 28,657,364 | 81,527,499 | 25,762,697 | 77,804,835 |
Cost of sales | 7 | (23,138,377) | (67,389,937) | (22,380,971) | (65,485,755) |
Gross profit | 5,518,987 | 14,137,562 | 3,381,726 | 12,319,080 | |
Dividend income | 4 | - | 17,125 | - | 8,325 |
Other operating income | 5 | 8,114,958 | 8,550,593 | 511,818 | 1,167,925 |
Impairment loss on assets | 6 | (1,344,272) | (1,415,689) | (27,545) | (57,937) |
Selling and distribution expenses | 7 | (2,367,406) | (6,544,827) | (2,426,033) | (6,196,472) |
Administrative expenses | 7 | (2,787,980) | (7,645,719) | (2,292,279) | (6,482,463) |
Operating (loss)/profit | 7,134,286 | 7,099,045 | (852,313) | 758,458 | |
Finance income | 8 | 29,724 | 4,390,571 | 444,493 | 569,032 |
Finance cost | 8 | (867,553) | (2,511,454) | (719,750) | (2,384,403) |
Net finance (cost)/income | (837,829) | 1,879,117 | (275,257) | (1,815,371) | |
Share of profit/(loss) from associates using the equity method | 15 | 144,046 | 625,026 | 20,086 | (38,225) |
Profit/(Loss) before tax | 6,440,504 | 9,603,188 | (1,107,484) | (1,095,138) | |
Income tax expense | 9 | (958,338) | (2,893,271) | (197,837) | (887,621) |
Profit/(Loss) after tax for the period from continuing operations | 5,482,166 | 6,709,917 | (1,305,321) | (1,982,759) | |
Discontinued operations | |||||
Loss after tax for the period from discontinued operations | - | - | 12,731 | (25,820) | |
Profit/(Loss) for the period | 5,482,166 | 6,709,917 | (1,292,590) | (2,008,579) |
Other comprehensive income:
Items not to be subsequently recycled to profit or loss
Net changes in fair value of financial assets
Share of other comprehensive income/(loss) of associates using the equity method
14 | (6,250) | 63,000 | (7,875) | (51,000) |
15 | 8,575 | 51,451 | (28,579) | (77,176) |
Other comprehensive income/(loss) for the period net of tax | 2,325 | 114,451 | (36,454) | (128,176) | |
Total comprehensive income/(loss) for the period net of tax | 5,484,491 | 6,824,368 | (1,329,044) | (2,136,755) | |
Profit/(Loss) attributable to: | |||||
Equity holders of the parent | 5,650,758 | 7,199,538 | (830,035) | (1,356,782) | |
Non controlling interests | (168,592) | (489,621) | (462,555) | (651,797) | |
5,482,166 | 6,709,917 | (1,292,590) | (2,008,579) | ||
Total comprehensive income/(loss) attributable to: | |||||
Equity holders of the parent | 5,653,083 | 7,313,989 | (866,489) | (1,484,958) | |
Non controlling interests | (168,592) | (489,621) | (462,555) | (651,797) | |
5,484,491 | 6,824,368 | (1,329,044) | (2,136,755) | ||
Earnings per share attributable to owners of the parent during the period | |||||
(expressed in Kobo per share): | |||||
Basic earnings per share | |||||
From continuing operations (Kobo) | 10 | 193 | 246 | (29) | (46) |
From discontinued operations (Kobo) | 10 | - | - | 0 | (1) |
From profit/(loss) for the period (Kobo) | 193 | 246 | (29) | (47) | |
Diluted earnings per share | |||||
From continuing operations (Kobo) | 10 | 193 | 246 | (29) | (46) |
From discontinued operations (Kobo) | 10 | - | - | 0 | (1) |
From profit/(loss) for the period (Kobo) | 193 | 246 | (29) | (47) |
2
UAC of Nigeria PLC
Condensed Consolidated Statement of Financial Position
As at 30 September 2023
30 September 2023 | 31 December 2022 | ||
Notes | N' 000 | N' 000 | |
Assets | |||
Non-current assets | |||
Property, plant and equipment | 11 | 26,699,350 | 25,043,411 |
Intangible assets and goodwill | 12 | 3,322,854 | 3,626,747 |
Investment properties | 13 | 1,628,727 | 2,435,360 |
Equity instrument at fair value through other comprehensive income | 14 | 218,750 | 514,965 |
Investments in associates | 15 | 9,188,473 | 8,511,997 |
Debt instrument at amortised cost | 16 | 3,403,121 | 2,232,103 |
Right of use assets | 18 | 1,391,290 | 1,471,771 |
Trade and other receivables | 20 | 2,146,881 | 2,146,881 |
Finance lease receivable | 20.1 | 10,372 | 10,372 |
Total non-current assets | 48,009,819 | 45,993,607 | |
Current assets | |||
Right of return assets | 17 | 4,683 | 4,683 |
Inventories | 19 | 27,281,333 | 24,396,400 |
Trade and other receivables | 20 | 7,316,997 | 6,693,502 |
Finance lease receivable | 20.1 | - | 600 |
Cash and cash equivalents | 21 | 22,031,002 | 16,196,969 |
Total current assets | 56,634,016 | 47,292,154 | |
Non-current assets held for sale | 32 | 541,850 | 541,850 |
Total assets | 105,185,685 | 93,827,611 | |
Equity and Liabilities | |||
Ordinary share capital | 30 | 1,463,065 | 1,463,065 |
Share premium | 14,647,616 | 14,647,616 | |
Fair value reserve | 182,266 | 67,815 | |
Equity settled share based payment reserve | 525,825 | 342,870 | |
Other reserve | 91,923 | 91,923 | |
Retained earnings | 31,889,009 | 25,350,422 | |
Equity attributable to equity holders of the Parent | 48,799,704 | 41,963,711 | |
Non controlling interests | 2,274,953 | 3,316,500 | |
Total equity | 51,074,657 | 45,280,211 | |
Liabilities | |||
Non-current liabilities | |||
Lease liability | 18 | 685,191 | 569,940 |
Borrowings | 22 | 2,671,423 | 2,467,290 |
Government grant | 25 | 132,052 | 132,052 |
Deferred tax liabilities | 23 | 3,339,828 | 2,708,129 |
Employee benefits | 29 | 75,960 | 68,122 |
Provisions | 28 | 34,080 | 34,080 |
Total non-current liabilities | 6,938,534 | 5,979,613 | |
Current liabilities | |||
Current income tax liabilities | 9 | 4,751,225 | 3,997,168 |
Refund liabilities | 17 | 4,572 | 4,924 |
Lease liability | 18 | 746,790 | 789,007 |
Current portion of borrowings | 22 | 17,244,581 | 16,537,153 |
Trade and other payables | 24 | 17,411,070 | 13,352,005 |
Contract liabilities | 26 | 1,511,948 | 2,311,875 |
Dividend payable | 27 | 5,475,272 | 5,451,070 |
Government grant | 25 | 20,489 | 92,167 |
Provisions | 28 | 6,548 | 32,418 |
Total current liabilities | 47,172,494 | 42,567,787 | |
Total liabilities | 54,111,028 | 48,547,400 | |
Total equity and liabilities | 105,185,685 | 93,827,611 | |
The financial statements and the notes on pages 6 to 30 were approved and authorised before issue by the board of directors on 27 October 2023 and were signed on its behalf by:
Mr. Dan Agbor | Mr. Folasope Aiyesimoju | Mrs. Funke Ijaiya-Oladipo |
Chairman | Group Managing Director | Group Finance Director |
FRC/2013/NBA/00000001748 | FRC/2019/IODN/00000019806 | FRC/2021/001/00000022822 |
3
UAC of Nigeria PLC
Condensed Consolidated Statement of Changes in Equity
for the 9 months period ended 30 September 2023 | - | ||||||||||
Attributable to owners of the Company | |||||||||||
Equity Settled | |||||||||||
Share-based | |||||||||||
Share | Share | Contingency | Fair value | Other | Payment | Retained | Non controlling | ||||
Notes | Capital | Premium | Reserve | Reserve | Reserve | Reserve | Earnings | Total | Interests | Total | |
N'000 | N'000 | N'000 | N'000 | N'000 | N'000 | N'000 | N'000 | N'000 | N'000 | ||
Total equity at 1 January 2023 | 1,463,065 | 14,647,616 | - | 67,815 | 91,923 | 342,870 | 25,350,422 | 41,963,711 | 3,316,500 | 45,280,211 | |
Profit/(Loss) for the period | - | - | - | - | - | - | 7,199,538 | 7,199,538 | (489,621) | 6,709,917 | |
Other comprehensive income | - | - | - | 114,451 | - | - | - | 114,451 | - | 114,451 | |
Net changes in equity settled share-based payment | - | - | - | - | - | 182,955 | - | 182,955 | - | 182,955 | |
Transaction with Equity holders | |||||||||||
Net Impact of UFL merger | 27 | 33,865 | 33,865 | (33,865) | - | ||||||
Purchase of NCI shares on account of UFL merger | 27 | - | 798 | 798 | (37,630) | (36,832) | |||||
Changes in ownership due to UFL merger with SWAN | 27 | - | - | - | - | - | (51,846) | (51,846) | 51,846 | - | |
Share issue cost in respect of UFL merger | - | (20) | (20) | - | (20) | ||||||
Dividend declared | 27 | - | - | - | - | - | (643,749) | (643,749) | (532,276) | (1,176,025) | |
Balance at 30 September 2023 | 1,463,065 | 14,647,616 | - | 182,266 | 91,923 | 525,825 | 31,889,009 | 48,799,704 | 2,274,953 | 51,074,657 | |
Total equity at 1 January 2022 | 1,440,648 | 14,174,606 | 69,571 | 215,845 | 91,923 | 98,931 | 29,889,951 | 45,981,475 | 4,856,831 | 50,838,306 | |
Loss for the period | - | - | - | - | - | (1,356,782) | (1,356,782) | (651,797) | (2,008,579) | ||
Other comprehensive loss | - | - | - | (128,176) | - | - | - | (128,176) | - | (128,176) | |
Net changes in equity settled share-based payment | - | - | 182,954 | - | 182,954 | - | 182,954 | ||||
Transactions with Equity holders | |||||||||||
Scrip issue subscription by owners of parent | 22,417 | 473,010 | - | - | - | 495,427 | 495,427 | ||||
Scrip issue subscription by non controlling interest | 16,431 | 16,431 | |||||||||
Payment to non controlling interest by UNICO | (8,481) | (8,481) | |||||||||
Dividend declared | 27 | - | - | - | - | - | (1,872,842) | (1,872,842) | (536,687) | (2,409,529) | |
Changes in NCI due to scrip issue by CAP | 27 | - | - | - | - | - | 63,490 | 63,490 | (63,490) | - | |
Balance at 30 September 2022 | 1,463,065 | 14,647,616 | 69,571 | 87,669 | 91,923 | 281,885 | 26,723,817 | 43,365,546 | 3,612,807 | 46,978,353 | |
- | - |
4
UAC of Nigeria PLC
Condensed Consolidated Statement of Cash Flows for the 9 months period ended 30 September 2023
The Group | |||
30 September 2023 | 30 September 2022 | ||
Notes | N' 000 | N'000 | |
Cash flows from operating activities | |||
Cash generated used in operations | 31 | 5,764,502 | 4,268,706 |
Corporate tax paid | 9 | (1,483,021) | (1,078,594) |
Net cash flows generated/(used in) operating activities | 4,281,481 | 3,190,112 | |
Cash flows from investing activities | |||
Purchase of property, plant and equipment | 11 | (4,160,966) | (4,804,655) |
Purchase of intangible assets | 12 | (51,721) | (328,093) |
Proceeds from sale of property, plant and equipment | 7,828,887 | 30,867 | |
Proceeds from sale of Intangible asset | 6,440 | - | |
Proceeds from disposal of investment properties | 564,415 | 460,000 | |
Investment in equity instruments measured at fair value through other | |||
comprehensive income | 14 | (91,929) | (137,862) |
Refund from investment measured at fair value through other | |||
comprehensive income | 14 | - | 497 |
Investment in debt instrument | 16 | - | (297,834) |
Proceeds from matured debt instrument | 16 | 183,936 | 216,009 |
Lease prepayment | 18 | - | (180,430) |
Dividend received | 17,125 | 8,325 | |
Interest received | 1,143,516 | 696,530 | |
Net cash flows generated/(used in) investing activities | 5,439,703 | (4,336,646) | |
Cash flows from financing activities | |||
Repayment of lease liability principal | 18 | (339,073) | (410,451) |
Proceeds from borrowings | 22 | 22,355,875 | 58,668,096 |
Repayment of borrowings | 22 | (22,378,977) | (53,976,133) |
Interest paid on loans | 22 | (1,657,552) | (1,194,127) |
Dividend refund to registrar | 27 | - | (206,981) |
Dividends paid to non-controlling interests | 27 | (532,276) | (520,159) |
Dividends paid to Company shareholders | 27 | (643,749) | (1,377,415) |
UFL Merger share issue cost | (20) | ||
Payment to non-controlling interest by UNICO | - | (8,481) | |
Purchase of NCI shares | 27 | (12,629) | - |
Net cash flows used in financing activities | (3,208,401) | 974,349 | |
Cash & cash equivalents at the beginning of the year | 16,197,688 | 11,410,812 | |
Net increase in cash & cash equivalents | 6,512,783 | (172,185) | |
Cash & cash equivalents at the end of the period | 21 | 22,710,471 | 11,238,627 |
5
UAC of Nigeria Plc
Notes to the condensed consolidated financial statements for the 9 months period ended 30 September 2023
1. General information
UAC of Nigeria PLC (the "Company") is a company incorporated and domiciled in Nigeria. The Company is a public limited company listed on The Nigerian Exchange Limited and its registered office is at 1-5 Odunlami Street, Marina, Lagos.
UAC of Nigeria PLC and its subsidiaries (together "the Group") is a diversified business with activities in the following principal sectors: Animal Feeds and Other Edibles, Paints, Packaged Food and Beverages, Quick Service Restaurants, Logistics and Real Estate.
2. Summary of Significant Accounting Policies 2.1 Basis of Preparation
This condensed consolidated financial statement for the period ended 30 September 2023 has been prepared in accordance with IAS 34 Interim Financial Reporting. The financial statements have been prepared on a historical cost basis except for investment property measured at fair value and financial instruments measured at fair value through other comprehensive income.
2.2 Accounting Policies
The accounting policies adopted are consistent with those for the period ended 31 December 2022.
2.3 Estimates
The preparation of interim financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expense. Actual results may differ from these estimates.
In preparing these condensed consolidated financial statements, the significant judgements made by management in applying the Group's accounting policies and the key sources of estimation uncertainty were the same as those that applied to the consolidated financial statements for the year ended 31 December 2022.
2.4 Financial Risk Management
The Group's activities expose it to a variety of financial risks: market risk (including currency risk, fair value interest rate risk, cash flow interest rate risk and price risk), credit risk and liquidity risk. The Group's overall risk management programme focuses on the unpredictability of financial markets and seeks to minimise potential adverse effects on the Group's financial performance.
This condensed consolidated financial statements do not include all financial risk management information and disclosures required in the annual financial statements; they should be read in conjunction with the company's annual financial statements as at 31 December 2022. There have been no changes in the risk management structure since year end or in any risk management policy.
2.5 Securities Trading Policy
In compliance with Rule 17.15 Disclosure of Dealings in Issuers' Shares, Rulebook of the Exchange 2015 (Issuers Rule) UAC of Nigeria PLC maintains an effective Security Trading Policy which guides Directors, Audit Committee members, employees and all individuals categorized as insiders as to their dealing in the Company's shares. The Policy is regularly reviewed and updated by the Board. The Company has made specific inquiries of all the directors and other insiders and is not aware of any infringement of the policy during the period.
2.6 Management Assessment of Internal Control
The management of UAC of Nigeria PLC and its subsidiary companies are responsible for establishing and maintaining adequate internal control over financial reporting. The group's internal control system was designed to provide reasonable assurance to the Board of Directors regarding the preparation and fair representation of published financial statements. The Group's internal controls were assessed within the reporting period and were deemed to be effective as of 30 September 2023.
2.7 New standards, interpretations and amendments adopted by the Group
The accounting policies adopted in the preparation of the condensed consolidated financial statements are consistent with those followed in the preparation of the Group's annual consolidated financial statements for the year ended 31 December 2022, except for the adoption of new standards effective as of 1 January 2023. The Group has not early adopted any standard, interpretation or amendment that has been issued but is not yet effective. Several amendments apply for the first time in 2023, but do not have an impact on the condensed consolidated financial statements of the Group.
6
UAC of Nigeria PLC
Notes to the condensed consolidated financial statements for the 9 months period ended 30 September 2023
3. Segment Analysis
The Group
The chief operating decision-maker has been identified as the Executive Committee (EXCO), made up of the management of the Company. The EXCO reviews the Group's internal reporting in order to assess performance and allocate resources.
Management has determined the operating segments based on these reports.
The Group has identified the following as segments:
Animal Feeds & Other Edibles- Made up of business units involved in the manufacturing and sale of livestock feeds and edible oil.
Paints - Made up of a business unit involved in the manufacturing and sale of decorative and protective paints.
Packaged Food & Beverages - Made up of a business unit involved in the manufacturing and sale of bottled water, snacks and ice-cream.
QSR (Quick Service Restaurants) - Made up of a business unit involved in the making and sale of snacks and meals.
Others - This is a non-reportable segment made up of the corporate head office.
The following measures are reviewed by Exco; with Profit Before Tax taken as the segment profit. - Revenue from third parties
- Operating profit - Profit before tax
- Property, plant and equipment - Net assets
Animal Feeds & | Paints | Packaged Food | QSR | Others | Total | |
Other Edibles | & Beverages | |||||
30 September 2023 | N' 000 | N' 000 | N' 000 | N' 000 | N' 000 | N' 000 |
Revenue from contracts with customers | 45,991,539 | 15,263,368 | 19,560,977 | 2,777,440 | 675,333 | 84,268,657 |
Rental income | - | - | - | - | 96,329 | 96,329 |
Total Revenue | 45,991,539 | 15,263,368 | 19,560,977 | 2,777,440 | 771,662 | 84,364,986 |
Intergroup revenue | (2,109,011) | - | (124,778) | - | (603,698) | (2,837,487) |
Revenue from third parties | 43,882,528 | 15,263,368 | 19,436,199 | 2,777,440 | 167,964 | 81,527,499 |
Operating profit/(loss) | (1,221,362) | 1,664,744 | 1,083,172 | (457,673) | 6,030,164 | 7,099,045 |
Profit/(loss) before tax | (2,776,633) | 2,326,333 | 1,764,755 | (692,538) | 8,981,272 | 9,603,188 |
Profit/(Loss) after tax for the year from discontinued operations | - | - | - | - | - | - |
Property, plant and equipment | 12,500,819 | 2,331,172 | 9,975,631 | 1,058,676 | 833,053 | 26,699,350 |
Net assets | 9,562,102 | 6,895,386 | 9,444,177 | (1,678,662) | 26,851,655 | 51,074,657 |
7
UAC of Nigeria PLC
Notes to the condensed consolidated financial statements for the 9 months period ended 30 September 2023
Animal Feeds & | Paints | Packaged Food | QSR | Others | Total | |
Other Edibles | & Beverages | |||||
30 September 2022 | N' 000 | N' 000 | N' 000 | N' 000 | N' 000 | N' 000 |
Revenue from contracts with customers | 45,481,764 | 13,060,626 | 18,215,533 | 2,144,044 | 479,165 | 79,381,132 |
Rental income | - | - | - | - | 158,492 | 158,492 |
Total Revenue | 45,481,764 | 13,060,626 | 18,215,533 | 2,144,044 | 637,657 | 79,539,624 |
Intergroup revenue | (1,197,387) | (1,072) | (107,372) | - | (428,958) | (1,734,789) |
Revenue from third parties | 44,284,377 | 13,059,554 | 18,108,161 | 2,144,044 | 208,699 | 77,804,835 |
Operating profit/(loss) | (1,708,197) | 1,880,505 | 535,349 | (435,309) | 486,110 | 758,458 |
Profit / (Loss) before tax | (3,369,863) | 1,952,478 | 477,272 | (547,198) | 392,173 | (1,095,138) |
Loss after tax for the year from discontinued operations | - | - | - | - | (25,820) | (25,820) |
Property, plant and equipment | 12,672,884 | 2,118,340 | 8,453,282 | 947,227 | 937,424 | 25,129,157 |
Net assets | 14,357,429 | 5,270,318 | 8,732,235 | (707,490) | 19,325,861 | 46,978,353 |
Entity wide information | ||||||
30 September | 30 September | |||||
2023 | 2022 | |||||
Analysis of revenue by category: | N'000 | N'000 | ||||
Revenue from contracts with customers | 81,440,907 | 77,653,806 | ||||
Rental income | 86,592 | 151,029 | ||||
81,527,499 | 77,804,835 | |||||
30 September | 30 September | |||||
2023 | 2022 | |||||
Analysis of revenue by geographical location: | N'000 | N'000 | ||||
Nigeria | 81,527,499 | 77,804,835 | ||||
Others | - | - | ||||
81,527,499 | 77,804,835 |
Concentration risk
The Group is not exposed to any concentration risk, as there is no single customer with a contribution to total revenue of more than 10%.
8
UAC of Nigeria PLC
Notes to the condensed consolidated financial statements for the 9 months period ended 30 September 2023
Disaggregated Revenue
Group
For the period ended 30 September 2023 | ||||||
Segments | Animal Feeds & | Paints | Packaged Food & | QSR | Others | Total |
Other Edibles | Beverages | |||||
N'000 | N'000 | N'000 | N'000 | N'000 | N'000 | |
Revenue from contracts with customers | ||||||
Sale of goods | 43,882,528 | 15,252,008 | 19,436,199 | 2,777,440 | - | 81,348,175 |
Rendering of service | - | 11,360 | - | - | 167,964 | 179,324 |
------------- | ------------- | ------------- | ------------- | ------------- | ------------- | |
Total | 43,882,528 | 15,263,368 | 19,436,199 | 2,777,440 | 167,964 | 81,527,499 |
======= | ======= | ======= | ======= | ======= | ======= | |
Geographical Markets | ||||||
Nigeria | 43,882,528 | 15,263,368 | 19,436,199 | 2,777,440 | 167,964 | 81,527,499 |
Outside Nigeria | - | - | - | - | - | - |
------------- | ------------- | ------------- | ------------- | ------------- | ------------- | |
Total | 43,882,528 | 15,263,368 | 19,436,199 | 2,777,440 | 167,964 | 81,527,499 |
======= | ======= | ======= | ======= | ======= | ======= | |
Timing of revenue | ||||||
Goods transferred at a point in time | 43,882,528 | 15,252,008 | 19,436,199 | 2,777,440 | - | 81,348,175 |
Services transferred over time | - | 11,360 | - | - | 167,964 | 179,324 |
------------- | ------------- | ------------- | ------------- | ------------- | ------------- | |
43,882,528 | 15,263,368 | 19,436,199 | 2,777,440 | 167,964 | 81,527,499 | |
======= | ======= | ======= | ======= | ======= | ======= | |
For the period ended 30 September 2022 | ||||||
Segments | Animal Feeds & | Paints | Packaged Food & | QSR | Others | Total |
Other Edibles | Beverages | |||||
N'000 | N'000 | N'000 | N'000 | N'000 | N'000 | |
Revenue from contracts with customers | ||||||
Sale of goods | 44,284,377 | 12,998,708 | 18,108,161 | 2,144,044 | - | 77,535,290 |
Rendering of service | - | 60,846 | - | - | 208,699 | 269,545 |
------------- | ------------- | ------------- | ------------- | ------------- | ------------- | |
Total | 44,284,377 | 13,059,554 | 18,108,161 | 2,144,044 | 208,699 | 77,804,835 |
======= | ======= | ======= | ======= | ======= | ======= | |
Geographical Markets | ||||||
Nigeria | 44,284,377 | 13,059,554 | 18,108,161 | 2,144,044 | 208,699 | 77,804,835 |
Outside Nigeria | - | - | - | - | - | - |
------------- | ------------- | ------------- | ------------- | ------------- | ------------- | |
Total | 44,284,377 | 13,059,554 | 18,108,161 | 2,144,044 | 208,699 | 77,804,835 |
======= | ======= | ======= | ======= | ======= | ======= | |
Timing of revenue | ||||||
Goods transferred at a point in time | 44,284,377 | 12,998,708 | 18,108,161 | 2,144,044 | - | 77,535,290 |
Services transferred over time | - | 60,846 | - | - | 208,699 | 269,545 |
------------- | ------------- | ------------- | ------------- | ------------- | ------------- | |
44,284,377 | 13,059,554 | 18,108,161 | 2,144,044 | 208,699 | 77,804,835 | |
======= | ======= | ======= | ======= | ======= | ======= |
9
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UAC of Nigeria plc published this content on 27 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 October 2023 19:51:18 UTC.