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1. Head Office:
Suite
250,
Federal Palace Hotel,
Ahmadu Bello
Way,
Victoria Island, Lagos.
2. Nature of Business:
Hotels, Catering and Tourism industry in Nigeria
3. Date of Incorporation:
10th April, 1964
4. Date Listed on The Exchange:
3rd September, 2004
5. NSE Classification:
Hotel & Tourism
6. Board of Directors:
Mr. Goodie Minabo Ibru, OON, (Chairman)
Chief J. Akin George, OFR
Olorogun Michael Christopher O. Ibru, OFR
Dr. Obrogun F. O. Ibru
Mr. Y. A. Disu
7. Company Secretary:
IHL Services Limited
8. Auditors:
Akintola Williams Deloitte
(Chartered Accountants)
235, Ikorodu
Road, Lagos.
Tel: 234-01-4931346-8, 7740857-8
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9. Company Registrars:
Union Registrars Limited
2, Burma Road,
Apapa, Lagos.
10. Subsidiaries/Associates:
Nil
11. End of Accounting Year
30th June
12. Capital Structure
i. Authorised:
N1,000,000,000.00
ii. Paid-Up
N569,149,000
.00
13. No of Employees
344
14. Analysis of Shareholdings:
Ikeja Hotels - 53.6%
Oma Investments Limited - 14.7%
Associated Ventures Int’l Limited - 14.7%
TCN Staff Trust Scheme - 14.1%
Others - 17.6%
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FIVE-YEAR FINANCIAL SUMMARY
CAPITAL
EMPLOYED 2006 2005 2004 2003 2002
N‘000 N‘000 N‘000 N‘000 N‘000
Property, plant and
equipment 6,498,284 6,045,735 5,304,738 4,558,325 3,166,626
Net current Liabilities (2,881,844) (2,472,392) (2,017,379) (1,305,379) (317,252)
Long term loans (1,908,150) (1,903,350) (1,549,685) (1,579,150) (1,533,000)
Deferred tax (257,056) (135,200) (135,200) (43,694) (8,308)
Staff Gratuity and
terminal benefits (770,402) (557,345) (400,470) (282,731) (21,244)
———— ———— ———— ———— ———
680,832 977,448 1,202,004 1,347,692 1,286,822
====== ======= ======= ====== ======
CAPITAL AND RESERVES
Share Capital 569,149 569,149 569,149 569,149 569,149
Share premium 519,686 519,686 519,686 519,686 519,686
Revaluation reserve 99,849 99,849 99,849 99,849 99,849
General reserve (507,852) (211,236) 13,320 159,008 98,138
———— ———— ———— ———— ———
Shareholders’ funds 680,832 977,448 1,202,004 1,347,692 1,286,822
====== ======= ======= ====== ======
TURNOVER AND PROFITS:
Turnover 1,230,217 1,030,395 1,042,156 1,003,155 939,467
====== ======= ====== ====== ======
(Loss)/Profit for the
year before tax (169,448) (218,349) (47,177) 110,800 35,451
Taxation (127,168) (6,207) (98,511) (49,930) (14,338)
Sustained loss for the year (296,616) (224,556) (145,688) 60,870 21,113
====== ======= ====== ====== ======
Per Share Data (Kobo)
Loss per ordinary share (k) (26) (20) (13) 5 2
Net assets per ordinary
share (k) 60 86 106 118 113
NOTE:
Loss and net assets per
ordinary share of 50k have been computed respectively for each year on the
(loss)/profit after taxation and on the basis of the number of shares
issued as at 31 December, 2006.
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