Alumaco PLC
13-11-2009 ALUMACO PLC
AUDITED FINANCIAL REPORT FOR THE YEAR ENDED 31ST DECEMBER 2008
2008 2007
TURNOVER N664.907m N417.833m
PROVISION FOR DIMUNITION IN
VALUE OF INVESTMENT (N10.484m) NILL
PROFIT/LOSS BEFORE TAX (N111.380m) (N38.353m)
TAXATION (N21.583m) (N618,000)
PROFIT/LOSS AFTER TAXATION(N132.963m) (N38.971m)
FIXED ASSETS N699.500m N665.449m
STOCK N199.741m N172.078m
TRADE DEBTORS N97.037m N77.335m
CASH AND BANK BALANCES N2.216m N104.930m
OTHER DEBIT BALANCES N88.381m N99.916m
TRADE CREDITS N55.122m N40.140m
SHORT TERM BORROWINGS N80.809m N42.798m
OTHER CREDIT BALANCES N417.301m N370.164m
WORKING CAPITAL (N160.348m) (N3.275m)
NET ASSETS N533.643m N666.606m
EMPHASIS OF MATTER: THE AUDITOR DREW ATTENTION TO THE ACCUMULATED LOSES
WORKING CAPITAL DEFICIENCY AND THE NEGATIVE CASHFLOW, HOWEVER THEIR
OPINION IS NOT QUALIFIED IN RESPECT OF THIS MATTER
__________________
Enjoy.
Pumping.
Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You can't buy what is popular and do well.
-Warren Buffet-
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hispy99
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