Evans Medical Plc

[billions]

EVANS MEDICAL PLC
UNAUDITED RESULT FOR 1ST QUARTER ENDED 31-03-2008
2008 2007
TURNOVER N1.160b N746.900m
PROFIT BEFORE TAXATION N163.200m (N21.000m)
TAXATION (N52.200m) NIL
PROFIT AFTER TAXATION N111.000m (N21.000m)

[BLUEMONEY]

Originally Posted by billions

EVANS MEDICAL PLC
UNAUDITED RESULT FOR 1ST QUARTER ENDED 31-03-2008
2008 2007
TURNOVER N1.160b N746.900m
PROFIT BEFORE TAXATION N163.200m (N21.000m)
TAXATION (N52.200m) NIL
PROFIT AFTER TAXATION N111.000m (N21.000m)

Very Impressive. I Hope they can sustain the Tempo.

[whobethat]

Pls what was the result for the FYE and the dividend and/or bonus declared

[hispy99]

Originally Posted by whobethat

Pls what was the result for the FYE and the dividend and/or bonus declared

I don't think they announced any bonus/dividend for FYE. Loss After Tax for FYE Dec 2007 was N317M

[billions]

EVANS MEDICAL PLC
AUDITED RESULT FOR YEAR ENDED 31-12-2007
2007 2006
TURNOVER N3.151b N2.908b
PROFIT BEFORE TAXATION (N373.436m) N186.613m
TAXATION N56.417m (N54.409m)
PROFIT AFTER TAXATION (N317.019m) N132.204m
CLOSURE OF REGISTER SEPTEMBER 8TH TO 15TH
SEPTEMBER 2008 PAYMENT DATE NIL

[hispy99]

http://nigerianbulletin.com/nigeria-...20102008/2319/

[BLUEMONEY]

Originally Posted by hispy99

Evans Medical to raise funds from stock exchange
By Our correspondent
Published: Monday, 20 Oct 2008
Evans Medical Plc has indicated plans from the Nigerian Stock Exchange in the near future.

The Chairman of the company, Mr. Saifiudeen Edu, who gave the indication, said that the funds raised by the company, would be used to develop existing projects that the company had embarked upon, and to establish future projects that would ensure profitability.

Speaking at the company’s Annual General Meeting, held in Lagos on Friday, he said, “Based on the shareholders’ resolution, passed at the 2007 AGM, authorising the directors to increase the authorised share capital and raise funds from the capital market, I am happy to report that the exercise has reached an advanced stage, and would be completed before the end of the current year.

“The proceeds of the offer are intended to be used for the completion of the factory modernisation projects and enhancement of working capital, to meet the expansion needs of the business.”

The chairman stated that the company had made huge capital investments in its factory modernisation programme, since its commencement in 2004.

This, he said, was through upgrading of the factory, development and introduction of new products, with the aim of satisfying the World Health Organisation certification requirements for global participation and competitive increase in its market share.

I Hope the Right Issue Comes Cheap Enough now that the PO would soon hit the market as Stated by the Chairman of the Company.

[billions]

Evans Medical Plc released its un-audited third quarter result for the period ended September 30th, 2008. Turnover increased by 18.56% to N2.932 billion, PBT grew by 9394% to N158 million while PAT surged by 6335% to N106 million as against a loss of N1.7 million in the corresponding period of 2007.

[hispy99]

Originally Posted by billions

Evans Medical Plc released its un-audited third quarter result for the period ended September 30th, 2008. Turnover increased by 18.56% to N2.932 billion, PBT grew by 9394% to N158 million while PAT surged by 6335% to N106 million as against a loss of N1.7 million in the corresponding period of 2007.

PAT was N111M in Q1, dropped to N76M in Q2 and back up to N106M in Q3. What happened in Q2?

[mosbe]

Originally Posted by hispy99

PAT was N111M in Q1, dropped to N76M in Q2 and back up to N106M in Q3. What happened in Q2?

The Financial Books of Evans Medical should be scrutinized properly. I suspect they are trying to "cook up" their account for their proposed PO.

[knightofdelta]

Originally Posted by mosbe

The Financial Books of Evans Medical should be scrutinized properly. I suspect they are trying to "cook up" their account for their proposed PO.

I agree with you. Are people buying more paracetamol than before? I don't think so. This sudden jump in profitability needs to be reassessed.

[mosbe]

Originally Posted by knightofdelta

I agree with you. Are people buying more paracetamol than before? I don't think so. This sudden jump in profitability needs to be reassessed.

Any Recent News Abt Their Proposed Po & Rights Issue?

[BLUEMONEY]

Originally Posted by mosbe

Any Recent News Abt Their Proposed Po & Rights Issue?

From the look of things, the PO Would be next year.

[mosbe]

Firms present scorecards to NSE
By Helen Oji

Unaudited result of Evans Medical Plc for the third quarter ended September 30, 2008 showed a turnover of N29.3 billion, as against N2.5 million in the comparable period of 2007. The company's profit after tax stood at N106.0 million, compared with loss after tax of N1.7 million in 2007.

This result keeps baffling me...I have been wondering how much PAT they would end their year with.

[utuocha]

Notice: Evans Medical Plc



Evans Medical Plc has in response to The Exchange’s inquiry reported that its 2008 Annual Reports & Accounts could not be submitted as at when due because of an “Exceptional Item” amounting to N549,886,000.00 that is now the subject of forensic investigation by Pricewaterhouse Coopers, Ghana. An admission of the Exceptional Item would result in a loss before tax of N490,769,000.00 by the Company and a loss before tax of N387,824,000.00 by the Group.



Following the initiation of the forensic audit, the Group Managing Director, Dr. Kiran Virat, and the Finance Director, Alhaji J. B. Alli-Oluwafuyi, were directed by the Board to proceed on leave until after the submission of the final report by the Forensic Auditors and a final decision is taken on the matter.



The Exchange today met with the Board of the company and was informed that the directors will meet on 15th April, 2010 to consider the final report of the forensic auditors.

[hispy99]

Updates on Evans Medical Plc - Proshare

[123.rado]

EVANS MEDICAL PLC
26 May 2010
Audited Year Ended (October) 2008

Profit and Loss Information
Turnover 08 N4.465b 07 N3.151b
PBT And Extraordinary Items 08 N162.062m 07 (N373.436m) Exceptional Items 08 (N549.886m) 07 Nil
PBT 08 (N387.824m) 07 (N373.436m)
Taxation 08 (N122.274m) 07 N56.417m
PAT 08 (N510.098m) 07 (N317.019m)

Balance Sheet Information
Fixed Assets 31-12-08 N1.735b 31-12-07 N1.598b
Stock 08 N1.460b 07 N1.707b
Trade Debtors 08 N748.457m 07 N602.154m
Cash And Bank Balances 08 N493.777m 07 N387.643m
Other Debit Balances 08 N259.018m 07 N52.301m
Trade Creditors 08 N462.912m 07 N168.103m
Short Term Borrowings 08 N467.128m 07 N1.284b
Other Credit Balances 08 N2.943b 07 N1.570b
Working Capital 08 (N533.064m) 07 N35.557m
Net Assets 08 N823.784m 07 N1.323b

[pumping]

Originally Posted by 123.rado

EVANS MEDICAL PLC
26 May 2010
Audited Year Ended (October) 2008

Profit and Loss Information
Turnover 08 N4.465b 07 N3.151b
PBT And Extraordinary Items 08 N162.062m 07 (N373.436m) Exceptional Items 08 (N549.886m) 07 Nil
PBT 08 (N387.824m) 07 (N373.436m)
Taxation 08 (N122.274m) 07 N56.417m
PAT 08 (N510.098m) 07 (N317.019m)

Balance Sheet Information
Fixed Assets 31-12-08 N1.735b 31-12-07 N1.598b
Stock 08 N1.460b 07 N1.707b
Trade Debtors 08 N748.457m 07 N602.154m
Cash And Bank Balances 08 N493.777m 07 N387.643m
Other Debit Balances 08 N259.018m 07 N52.301m
Trade Creditors 08 N462.912m 07 N168.103m
Short Term Borrowings 08 N467.128m 07 N1.284b
Other Credit Balances 08 N2.943b 07 N1.570b
Working Capital 08 (N533.064m) 07 N35.557m
Net Assets 08 N823.784m 07 N1.323b

Wow! one third of the balance sheet wiped out. This is for 2008? Well, let's see what 2009 will look like..

[hispy99]

Originally Posted by pumping

Wow! one third of the balance sheet wiped out. This is for 2008? Well, let's see what 2009 will look like..

Another case of inventory manipulation

[hispy99]

Vanguard News Online-SEC queries Evans Medicals, suspends MD, finance director