2019
2018
Revenue
28,433,361
28,264,711
Cost of sales
(23,661,338)
(27,476,274)
Gross Profit
4,772,023
788,437
Other income
983,548
825,880
Selling and distribution cost
(265,996)
(441,622)
General and admin expenses
(4,811,357)
(4,462,336)
Impairment loss on trade and receivables
(418,860)
(164,745)
Operating profit/(loss)
259,358
(3,454,386)
Finance income
6,060
52,495
Finance cost
(4,573,435)
(3,813,211)
Loss before tax
(4,308,017)
(7,215,102)
Income tax expense
945,908
(4,796,545)
Loss of the year
(3,362,109)
(12,011,647)
Other comprehensive income
Revaluation of PPE
19,470,901
-
Remeasurements of defined benefit liability
(1,374,562)
89,638
Related tax
(3,216,132)
119,050
14,880,207
208,688
Total comprehensive income
11,518,098
(11,802,959)
Assets
Property, plant and equipment
126,804,747
108,383,558
Non-curent Assets
Inventories
8,228,910
5,643,060
Current tax assets
6,283
3,263
Trade and other receivables
9,811,571
10,098,018
Cash and cash equivalents
1,072,774
283,697
Total Curent assets
19,119,538
16,028,038
Total Assets
145,924,285
124,411,596
Equity
Share capital
26,071,630
Revaluation reserve
56,508,182
43,168,101
Fair value reserve
6,293,536
Retained earnings
(111,272,741)
(109,450,758)
Total Equity
(22,399,393)
(33,917,491)
Liabilities
Loans and Borrowing
14,507,042
30,857,327
Employee benefit obligations
3,199,963
1,375,888
Deferred tax liabilities
20,687,331
18,417,106
Trade and other payables
55,547,794
Non- current liabilities
93,942,130
106,198,115
Bank overdraft
955,704
1,516,386
26,086,341
24,099,410
Loans and borrowing
47,339,503
26,515,176
Current liabilities
74,381,548
52,130,972
Total liabilities
168,323,678
158,329,087
Total equity and liabilities
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