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1. Head Office:
45, Eric
Moore Road
Iganmu, Lagos,
P.o.Box 589
Apapa, Lagos.
Tel: 234-01-5801650-6
Fax: 234-01-5831464, 5831533
2. Nature of Business:
Manufacturing of Bag.
3. Date of Incorporation:
4th February, 1964
4. Date Listed on The Exchange:
9th April, 2008
5. NSE Classification:
Packaging
6. Board of Directors:
J. G Coumantaros, (Chairman)
Chief E.A Ukpabi, (Exec. Vice Chairman)
Peter S. Low, (MD/CEO)
P. Barraclough
P. Murphy
A. S. Ogunkoya
Y. Katsaounis
E. David Rainton
Alhaji Y. Olalekan Saliu
J. K. Elebiyo
J. Hoyle
T. Mazarakis
7. Company Secretary:
Alhaji Yoa Salie
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8. Auditors:
Akintola Williams Deloitte
(Chartered Accountants)
235, Ikorodu
Road, Ilupeju
P. O. Box 965,
Lagos.
Tel: 234-01-4930720-4,
Fax: 234-01-4970023
Website: www.deloitte.com
9. Company Registrars
The Flour Mills Registrar Limited,
45, Eric
Moore Road, Iganmu,
P. O. Box
341, Apapa
10. Subsidiaries/Associates:
Northern Bag Manufacturing Company Ltd
11. End of Accounting Year
31 March
12. Number of Employees
951
13. Capital Structure
i. Authorised: N 3,150,000,000.00
ii. Paid-Up
N 3,107,500,000.00
14. Analysis of Shareholding
NIL
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FIVE-YEAR FINANCIAL SUMMARY
ASSETS
EMPLOYED 2008 2007 2006 2005 2004
N‘000 N‘000 N‘000 N‘000 N‘000
Fixed assets 8,023,767 8,138,115 6,821,805 4,568,795 2,026,362
Net current assets/(liabilities) 3,802,982 (2,248,631) (1,307,056) (1,745,541) (705,625)
———— ———— ———— ———— ————
TOTAL ASSETS:
LESS CURRENT LIBBILITIES: 11,826,749 5,889,484 5,514,749 2,823,254 1,320,737
Long term liabilities (2,450,420) (4,292,829) (4,964,133) (3,286,513) (1,834,227)
———— ———— ———— ———— ————
9,376,329 1,596,655 550,616 (463,259) (513,490)
======= ======= ====== ====== ======
CAPITAL AND RESERVES:
Share capital 3,107,500 125,000 125,000 125,000 125,000
Share premium 5,768,623 - - - -
Revaluation surplus 2,391 2,391 2,391 2,391 2,391
Capital reserve 432 432 432 432 432
General reserve 497,388 1,468,832 422,793 (591,082) (641,313)
———— ———— ———— ———— ————
SHAREHOLDERS’ FUNDS: 9,376,329 1,596,655 550,616 (643,259) (513,490)
====== ====== ====== ====== =====
TURNOVER AND PROFIT:
Turnover 11,811,798 11,002,609 9,901,556 6,296,989 5,713,445
Profit before taxation 920,144 1,206,597 1,074,400 89,188 25,217
Profit after taxation 303,551 1,056,039 1,013,875 50,231 2,118
====== ====== ====== ====== =====
Dividend - 25,000 10,000 - -
====== ====== ====== ====== =====
PER SHARE DATA (KOBO):
Earnings - Basic 4.9 422.4 405.6 20.1 0.8
Dividend - Basic - 10 4 - -
Net Assets/(liabilities) 151 639 220 (185) (205)
=== ==== ==== ==== ===
NOTE:
Basic earnings per share are
based on profit after tax and issued and fully paid ordinary shares at the
end of each financial year. Net assets per share are based on net assets
and issued and fully paid ordinary shares at the end of each financial
year.
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