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Unaudited Financial Statements for the second querter ended 30 June 2013
Oando Plc
(Incorporated in Nigeria and registered as an external company in South Africa)
Registration number: RC 6474
(External company registration number: 2005/038824/10)
Share Code on the JSE Limited: OAO
Share Code on the Nigerian Stock Exchange: UNTP
ISIN: NGOANDO00002
("Oando" or "the Company" or "the Group")
Unaudited Financial Statements for the second querter ended 30 June 2013
Shareholders are advised that Oando released unaudited financial statements for the Company for the six months ended
30 June 2013 to the Nigerian Stock Exchange earlier today, Friday, 16 August 2013.
QUOTE
OANDO PLC
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
As of 30 June 2013
30-Jun-13 31-Dec-12
Group Company Group Company
Non-current assets
Property, plant and equipment 143,680,918 2,930,061 130,324,713 3,022,194
Intangible assets 138,754,878 62,848 138,853,809 89,096
Held to maturity investments 1,000 85,380,021 1,000 85,380,020
Non current deferred tax assets 13,984,409 393,194 13,424,518 579,406
Derivative financial instruments 1,040,642 - 986,278 69,645
Finance lease receivables 3,656,385 - 3,206,008 -
Non-current receivables 79,788,802 9,234,762 78,161,044 7,345,639
Restricted cash 4,290,149 324,177 4,053,050 324,000
385,197,183 98,325,063 369,010,420 96,810,000
Current assets
Inventories 22,284,123 7,475 18,110,541 6,733
Trade and other receivables 142,863,171 139,498,202 114,385,620 128,786,885
Available for sale investments 148,701 147,865 148,701 147,865
Deferred tax assets - - - -
Bank and cash balances 19,717,344 5,601,894 13,408,506 1,567,995
185,013,339 145,255,436 146,053,368 130,509,478
Current liabilities
Trade and other payables 139,007,172 52,525,748 86,399,773 51,928,849
Dividend payable 651,058 651,058 651,058 651,058
Deferrred tax liabilities - - - -
Current income tax liabilities 5,215,241 856,694 6,417,980 760,941
Borrowings 145,708,232 31,674,994 213,665,715 68,121,082
290,581,703 85,708,494 307,134,526 121,461,930
Net current (liabilities)/assets (105,568,364) 59,546,942 (161,081,158) 9,047,548
Non-current liabilities
Borrowings 88,678,455 47,335,548 75,221,070 45,760,738
Deferred income tax liabilities 18,209,607 160,610 17,207,614 -
Provision for other liabilities & charges 4,477,016 - 3,562,670 -
Derivative financial liabilities 2,928,463 1,409,858 3,486,456 1,409,651
Retirement benefit obligation 3,388,398 1,542,133 2,802,983 1,232,303
Government Grant 293,941 - 293,941 -
117,975,880 50,448,149 102,574,734 48,402,692
Net Assets 161,652,939 107,423,856 105,354,528 57,454,856
Capital and Reserves attributable to equity holders
Share capital 3,411,177 3,411,177 1,137,058 1,137,058
Share premium account 98,991,434 98,991,434 49,521,186 49,521,186
Retained earnings 41,483,411 2,974,491 37,142,281 4,520,486
Other reserves 14,539,668 2,046,754 14,412,064 2,276,126
158,425,690 107,423,856 102,212,589 57,454,856
Non-Controlling interest 3,227,249 - 3,141,939 -
Total Equity 161,652,939 107,423,856 105,354,528 57,454,856
OANDO PLC
CONSOLIDATED COMPREHENSIVE INCOME STATEMENTS
FOR THE PERIOD ENDED 30 JUNE, 2013
30-Jun-13 30-Jun-12
Group Company Group Company
Turnover 280,327,586 - 350,609,291 3,150,000
Cost of sales (250,093,655) 3 (319,595,118) -
Gross profit 30,233,931 3 31,014,173 3,150,000
Selling and marketing costs (3,614,866) - (4,407,351) -
Administrative expenses (18,397,657) (708,009) (15,134,800) (514,218)
Other operating income 1,467,656 148,756 2,897,674 455,489
Operating profit 9,689,064 (559,250) 14,369,695 3,091,271
Finance income 265,315 3,776,152 1,850,527 2,226,333
Finance costs (3,798,793) (4,587,898) (5,804,916) (857,916)
Net finance (costs)/income (3,533,478) (811,745) (3,954,388) 1,368,418
Profit before taxation 6,155,586 (1,370,996) 10,415,307 4,459,689
Taxation (1,884,021) (175,000) (3,809,115) (150,100)
Profit after taxation 4,271,565 (1,545,996) 6,606,192 4,309,589
Attributable to:
Equity holders of the company 4,019,884 (1,545,996) 6,533,330 4,309,589
Non-Controlling interests 2% 251,681 - 72,862 -
4,271,565 (1,545,996) 6,606,192 4,309,589
Earnings per share for profit attributable to equity holders of the company during
the year:
Basic earnings per share (kobo) 66 282
Adjusted earnings per share (kobo) 66 282
OANDO PL
CONSOLIDATED STATEMENTS OF OTHER COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 30 JUNE, 201
30-Jun-13 30-Jun-12
Group Company Group Company
Profit for the period 4,271,565 (1,545,996) 6,606,192 4,309,589
Other comprehensive income:
Actuarial gains
Currency translation differences (275,994) - - -
Deferred tax on actuarial gains
Other comprehensive income for the year, netof tax (275,994) - - -
Total comprehensive income for the period 3,995,571 (1,545,996) 6,606,192 4,309,589
Attributable to:
Owners of the parent 3,758,233 (1,545,996) 6,533,330 4,309,589
Non controlling interest 237,338 - 72,862 -
3,995,571 (1,545,996) 6,606,192 4,309,589
OANDO PLC
STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 30 JUNE, 2013
30-Jun-13 31-Dec-12
NOTE Group Company Group Company
Cash flows from operating activities
Net cash flow from operating activities before
changes in working capital 19 15,083,594 2,870,168 50,466,168 6,810,021
Net decrease/(increase) in working capital 20 19,369,192 (11,694,453) 2,243,238 (60,700,716)
Income tax paid (2,362,180) - (10,390,255) (475,160)
Staff gratuity paid
Net cash from/(used in) operating activities 32,090,606 (8,824,285) 42,319,151 (54,365,855)
Cash flows from investing activities
Purchase of property plant and equipment (18,885,965) (60,516) (27,063,427) (1,134,918)
Deposit for acquisition of a business - - (67,542,450) -
Acquisition of subsidiary - - 789,373.00 -
Additions to Intangible assets (369,496) - (23,426,952) (89,096)
Proceeds from sale of property plant and equipment - - 2,309,209 62,817
Interest received 265,315 1,850,527 3,521,533 4,527,632
-
Cash used in by investing activities (18,990,146) 1,790,011 (111,412,714) 3,366,435
Cash flows from financing activities
Net Proceeds/(repayments) from long term loans 13,457,386 1,574,810 667,213 (6,000,000)
Share issue expenses (2,834,470) (2,834,470) - -
Proceeds from rights issues 54,578,836 54,578,836 - -
Restricted cash - - (1,710,050) (324,000)
Net Proceeds/(repayments) from long term loans (54,194,312) (27,844,026) 58,185,791 53,419,071
Interest paid (3,798,793) (5,804,916) (16,530,258) (5,647,399)
Net cash from/(used in) financing activities 7,208,647 19,670,235 40,612,696 41,447,672
Net change in cash and cash equivalents 20,309,107 12,635,961 (28,480,867) (9,551,748)
Cash and cash equivalent at the beginning of the year (35,129,478) (7,034,067) (6,657,138) 2,517,681
Exchange difference (237,099) - 8,527 -
Cash and cash equivalents at end of the year (15,057,470) 5,601,894 (35,129,478) (7,034,067)
Cash at year end is analysed as follows:
Cash and bank balance 19,717,344 5,601,894 13,408,506 1,567,995
Bank overdrafts (34,774,814) - (48,537,984) (8,602,062)
(15,057,470) 5,601,894 (35,129,478) (7,034,067)
UNQUOTE
Sandton
16 August 2013
JSE Sponsor
Macquarie First South Capital (Proprietary) Limited
Date: 16/08/2013 11:50:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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