| Fri 28 Apr 2006, 16:21 | | Oando Plc - Posting Of Annual Report And Slight Ch |
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OAO
UNTP
Oando Plc - Posting Of Annual Report And Slight Change Statement
Oando Plc
(Incorporated in Nigeria and registered as
an external company in South Africa)
Registration number RC6474
(External company registration number 2005/038824/10)
Share code on the JSE Limited: OAO
Share code on the Nigerian Stock Exchange: UNTP
("Oando" or "the Company")
ISIN: NG00000UNTP0
POSTING OF ANNUAL REPORT AND SLIGHT CHANGE STATEMENT
Shareholders are advised that the annual financial statements of Oando for the
year ended 31 December 2005 were dispatched to shareholders today and contain
slight modifications to the reviewed provisional results which were published on
31 March 2006. The modifications to the financial results are as a result of the
re-classification and treatment of certain items in the income statement.
Set out below are the differences between the provisional results released on 31
March 2006 and the audited results contained in the Company annual financial
statements sent to shareholders.
Provisional Results Audited Results
$"000 $"000
SALES 1,486,208 1,381,200
Cost of Sales (1,371,165) (1,249,369)
Gross Profit 115,043 131,831
Selling & marketing costs (47,517) (50,734)
Administrative Expenses (56,263) (54,550)
Interest Received 2,439 2,440
Other Operating Income 19,571 3,930
Operating Profit 33,273 32,917
Finance Costs (9,110) (10,019)
Profit before Tax 24,164 22,898
Income Tax expense (6,405) (6,405)
Profit after taxation 17,759 16,493
Minority interest 1,952 1,952
Equity Holders of the Company15,807 14,493
Apart from the income statement items listed above, the following modifications
have been made to the balance sheet:
Trade and Other Payables 183,729 138,224
Borrowings 225,897 277,172
The annual report will be available online at www.oandoplc.com from May 5 2006.
The Company"s auditors, PricewaterhouseCoopers, have audited the annual
financial statements. Their unqualified report is available for inspection at
the Company"s registered office.
A notice of the annual general meeting is included in the annual report. The
annual general meeting will be held at The Cultural Centre, Mokola Hills,
Ibadan, Oyo State, Nigeria, on Tuesday, May 30, 2006 at 10.00 a.m.
Johannesburg
28 April 2006
Sponsor
Deutsche Securities (SA) (Pty) Ltd
Date: 28/04/2006 04:22:03 PM Produced by the JSE SENS Department
