UNAUDITED SUMMARY CONSOLIDATED STATEMENT | UNAUDITED SUMMARY CONSOLIDATED STATEMENT OF FINANCIAL | |
OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME | POSITION AS AT 30 JUNE 2022 | |
FOR THE PERIOD ENDED 30 JUNE 2022 | ||
All figures in Ksh'000 | 30 June 2022 30 June 2021 | |
GroupM has released the second wave of Audience Origin data in Kenya, Tanzania, Uganda, Ethiopia, Ghana, Ivory Coast, Cameroon, and Nigeria. The data, which is locally focused, highlights unique consumer attitudes, preferences and behaviours that shape buying decisions.
All figures in Ksh'000 | H1 2022 | H1 2021 | |||
Gross profit | 1,040,261 | 1,107,677 | |||
Interest income (net of expense) | 100,352 | 99,155 | |||
Other income | 428 | 8,572 | |||
Operating and administrative expenses | (1,147,628) | (1,099,218) | |||
Allowance for expected credit loss | (49,261) | (25,362) | |||
Foreign exchange gains/(loss) | 65,469 | (8,332) | |||
Profit before tax | 9,621 | 82,492 | |||
Tax charge | (56,690) | (51,073) | |||
(Loss)/profit for the period | (47,069) | 31,419 | |||
Exchange difference on translating foreign operations | (33,121) | 7,846 | |||
Total comprehensive (loss)/income for the period | (80,190) | 39,265 | |||
(Loss)/profit attributable to: | |||||
Shareholders of the holding company | (48,106) | 41,515 | |||
Non-controlling interests | 1,037 | (10,096) | |||
(47,069) | 31,419 | ||||
Total comprehensive (loss)/income attributable to: | |||||
Shareholders of the holding company | (76,316) | 50,511 | |||
Non-controlling interests | (3,874) | (11,246) | |||
(80,190) | 39,265 | ||||
Basic and diluted (loss)/earnings per share (Sh) | (0.11) | 0.10 | |||
Number of shares (in thousands) | 432,156 | 432,156 |
ASSETS | |||
Non-current assets | 890,450 | 962,083 | |
Other current assets | 4,646,793 | 4,156,762 | |
Cash, bank and deposit balances | 3,517,001 | 3,645,229 | |
TOTAL ASSETS | 9,054,244 | 8,764,074 | |
EQUITY AND LIABILITIES | |||
Capital and reserves | |||
Share capital | 432,156 | 432,156 | |
Share premium | 4,436,532 | 9,155,166 | |
Merger reserve | 1,457,248 | - | |
Accumulated deficit | (832,236) | (3,984,629) | |
Translation deficit | (371,225) | (326,403) | |
Equity attributable to shareholders of the holding company | 5,122,475 | 5,276,290 | |
Non-controlling interests | (2,268) | 20,650 | |
Total equity | |||
5,120,207 | 5,296,940 | ||
Non-current liabilities | 87,704 | 138,019 | |
Current liabilities | 3,846,333 | 3,329,115 | |
TOTAL EQUITY AND LIABILITIES | |||
9,054,244 | 8,764,074 |
This follows an announcement of the expansion of the proprietary Audience Origin data service in Africa in response to a growing need from clients for better quality of consumer data and consumer led insights.
Available in over 60 markets worldwide, Audience Origin has a unique combination of panel-based data, digital data, and client data for deep audience understanding and activation.
It features a globally consistent Core Survey at its centre, which feeds global and local planning tools while delivering audience insights,
including niche audiences. Further, it uses a scaled and flexible approach,
allowing clients to access the data they need while also linking to their own data.
OPTIMUS
Proudly built in Africa, it's a marketing automation tool that drives customer acquisitions & grows customer life time value at scale and speed. Optimus is a programmatic ad serving platform that uses data to contextually target online ads to drive high volume and quality leads
that filter through our lead management system to get real time
analytics and dashboards to measure and improve sales.
It also has ability to automate lifecycle and cross sell through data driven relevant communication to our customers.
It is currently deployed in 2 large Financial Institutions (Africa wide and In East Africa).
UNAUDITED SUMMARY CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED 30 JUNE 2022
All figures in Ksh'000 | Share | Share | Merger | Accumulated | Translation | Non-controlling | Total |
capital | premium | reserve | deficit | deficit | interests | ||
At 1 January 2021 | 432,156 | 9,155,166 | - | (4,026,144) | (335,399) | 41,742 | 5,267,521 |
Profit/(loss) for the period | - | - | - | 41,515 | - | (10,096) | 31,419 |
Other comprehensive income/(loss) | - | - | - | - | 8,996 | (1,150) | 7,846 |
Dividend declared - 2021 | - | - | - | - | - | (9,846) | (9,846) |
At 30 June 2021 | 432,156 | 9,155,166 | - | (3,984,629) | (326,403) | 20,650 | 5,296,940 |
At 1 January 2022 | 432,156 | 4,436,532 | 1,457,248 | (784,130) | (343,015) | 1,606 | 5,200,397 |
Profit/(loss) for the period | - | - | - | (48,106) | - | 1,037 | (47,069) |
Other comprehensive loss | - | - | - | - | (28,210) | (4,911) | (33,121) |
At 30 June 2022 | 432,156 | 4,436,532 | 1,457,248 | (832,236) | (371,225) | (2,268) | 5,120,207 |
UNAUDITED SUMMARY CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 30 JUNE 2022
All figures in Ksh'000 | H1 2022 | H1 2021 | ||
Cash used in operating activities | (345,108) | (180,493) | ||
Tax paid on operating income | (106,874) | (98,247) | ||
Net cash used in operating activities | (451,982) | (278,740) | ||
Net cash generated from investing activities | 2,403,570 | 1,650,751 | ||
Net cash used in financing activities | (39,237) | (37,559) | ||
Net increase in cash and cash equivalents | 1,912,351 | 1,334,452 | ||
Cash and cash equivalents at the beginning of the period | 1,334,344 | 1,854,860 | ||
Net increase during the period | 1,912,351 | 1,334,452 | ||
Effect of flactuations in exchange rates | (22,844) | 4,251 | ||
Cash and cash equivaents at the end of the period | 3,223,851 | 3,193,563 |
A real-time social commerce engine, proudly made in Africa.
Ogilvy Africa recently announced the launch of FEED 2.0 initiative for brands and businesses in Africa.
FEED 2.0 enables marketers to put data at the heart of digital, and impact user journeys, from content to commerce. Marketers can now harness the power of data and machine learning to:
- Develop Data-aided customer journeys
- Create Data-informed content
- Customize content at scale, in real-time using automation
- Drive action through its performance marketing engine
We call this "Social that sells"
MANAGEMENT OBSERVATIONS
The Board of Directors hereby announce the unaudited results of the Group for the six month period ended 30 June 2022.
RESULTS
The business focused on rebuilding a strong foundation to support future growth, investing ahead in talent and technology to support clients' future needs. A tough economic environment tempered marketing expenditure by key clients even with the efforts made to recover from the pandemic. This had an impact on our gross profit, driving a decline of 6% to Kshs 1,040 million over prior period. The investments in all the markets we operate in, coupled with resumption of normal business activities post Covid increased operating and administrative expenses by 4%, with the expectation that these
investments would start to bear fruit in the second half of the year. Net interest income remained at the same level as of prior period. Depreciation in the Kenya shilling during the current period led to a higher exchange gain of Kshs 65million compared to a loss of kshs 8 million in prior period.
The Gross Profit before tax reduced by Kshs 73million for the 6 months ended 30 June as a result of the reduced topline and the increased operating expenses highlighted. The high tax charge in the current period is mainly due to expenses not deductible for tax purposes.
ACCOUNTING POLICIES
The accounting policies used in preparing these financials statements are consistent with those used for the Group's 2021 annual financial statements.
DIVIDENDS
The Board of Directors do not recommend an interim dividend.
OUTLOOK FOR THE REST OF THE YEAR
Stability in the Kenyan market and conversion of investments made in our other markets will be key to the delivery of a stronger second half.
By order of the Board
Winniefred Jumba
Company Secretary
19 August 2022
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WPP-Scangroup Ltd. published this content on 19 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 September 2022 19:39:00 UTC.