Page 19 - Learn Africa 2021 Annual Report

Learn Africa Plc
Directors’ Report

For the year ended 31 March 2021

he Directors have pleasure in presenting their report on the
affairs of the company together with the audited financial
Tstatements and other national disclosures of Learn Africa
Plc (‘the Company’) for the year ended 31 March 2021.

Legal form
The Company was incorporated in Nigeria under the Companies
and Allied Matters Act as a Private Limited Liability Company
in Nigeria in 1961. It also commenced business operations that
same year. The Company was converted to a Public Limited
Liability Company on 28 May 1991 and its shares listed on the
Nigerian Stock Exchange on 23 July 1996.

Principal activities
The principal activities of the Company are publishing and distribution of educational materials for
all levels of learning – nursery, primary, secondary and tertiary.

There was no change in the principal activities of the Company in the year under review.

Operating results

The following is the summary of the Company’s operating result as at 31 March, 2021.

Profit results for the year, after taxation, are as follows:

31 March 2021 31 March 2020
$’000 $’000
Revenue 2,390,000 2,869,410
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Profit before taxation 282,088 223,900
lncome tax expense (121,006) (143,908)
Profit after taxation 161,082 79,992
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