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investor centre |
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| Profit & Loss Account |
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| For the year ended 31st December 2004 |
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Group |
Company |
| |
2004 |
2003 |
2004 |
2003 |
| |
N'000 |
N'000 |
N'000 |
N'000 |
|
|
| Turnover |
25,116,384 |
20,947,146 |
17,374,954 |
14,848,011 |
| Cost of sales |
(18,911,456) |
(15,676,497) |
(13,362,357) |
(11,164,986) |
| Gross profit |
________
6,204,928
|
________
5,270,649
|
________
4,012,597
|
________
3,683,025 |
|
|
Other income |
148,462 |
130,096 |
200,381 |
612,170 |
| Selling and distribution expenses |
(417,575) |
(388,175) |
(108,846) |
(126,368) |
| Administration expenses |
(3,531,353) |
(2,816,707) |
(2,148,651) |
(1,950,359) |
| Operating profit from continuing operations |
2,404,462 |
2,195,863 |
1,955,481 |
2,218,468 |
| Loss from discontinuing operations |
- |
(24,957) |
- |
(24,957) |
| |
________
2,404,462
|
________
2,170,906
|
________
1,955,481
|
________
2,193,511 |
| Share of profit of associated companies |
352,365 |
534,577 |
352,365 |
534,577 |
| Finance charges |
(854,714) |
(1,157,353) |
(609,279) |
(935,462) |
| Net operating profit |
________
1,902,113 |
________
1,548,130 |
________
1,698,567 |
_________ 1,792,626 |
| Profit from disposal of certain assets |
716,704 |
1,422,742 |
701,906 |
1,401,778 |
| Provision for unfunded retirement benefits |
(200,000) |
(298,605) |
(200,000) |
(298,605) |
| Profit before taxation & minority interest |
_________
2,418,817 |
________
2,672,267 |
________
2,200,473 |
________
2,895,779 |
| Taxation |
(768,646) |
(481,033) |
(601,906) |
(312,978) |
| Profit after taxation but before minority interest |
1,650,171 |
2,191,234 |
1,598,567 |
2,582,821 |
| Minority interest |
(80,000) |
(6,642) |
- |
- |
| Profit after taxation & minority interest |
________
1,570,143 |
________
2,184,592 |
________
1,598,567 |
________
2,582,821 |
| Proposed dividend |
(970,984) |
(545,181) |
(970,984) |
(545,181) |
| Profit of the year retained |
_______
599,159 |
________
1,639,411 |
_______
627,583 |
________
2,037,640 |
| Retained by the company |
627,583 |
2,037,640 |
627,583 |
2,037,640 |
Retained by subsidiaries |
(28,425) |
(398,229) |
- |
- |
| Profit of the year retained |
______
599,159 |
________
1,639,411 |
_______
627,583 |
________
2,037,640 |
| Earnings per share (kobo) |
137 |
240 |
140 |
284 |
| Earnings per share (kobo) adjusted |
137 |
191 |
140 |
226 |
| Dividend per share (kobo) |
85 |
60 |
85 |
60 |
| Dividend per share (kobo) adjusted |
85 |
48 |
85 |
48 |
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