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Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to OCR text and compared cell by cell with the page image; read from the page image) (9 October 2026). Independent review has not yet been carried out, and these pages are not indexed.AI-assisted source check done; independent review pending; not indexed. About the review

Livestock Feeds

LIVESTOCK · Nigerian Exchange · Company statements

On this page
Company details
Legal name
LIVESTOCK FEEDS PLC
Listing
LIVESTOCK on the Nigerian Exchange, active · ISIN NGLIVESTOCK5 (observed 2026-10-08)
Sector
Not classified (our classification from the stated principal activity)
Financial year ends
31 December

Overview

Year ended 31 December 2025 · annual report, signed / final · source

Read with these figures

  • Going-concern uncertainty stated by the directors. Note 39 Going Concern (PDF p116): loss after tax of ₦2.99 billion and current liabilities exceeding current assets by ₦1.30 billion; ₦7.29 billion (81%) of current liabilities is due to the parent, UAC of Nigeria Plc, which 'has confirmed that it will not demand repayment ...
Full wording and sources

  • Going-concern uncertainty stated by the directors

    Note 39 Going Concern (PDF p116): loss after tax of ₦2.99 billion and current liabilities exceeding current assets by ₦1.30 billion; ₦7.29 billion (81%) of current liabilities is due to the parent, UAC of Nigeria Plc, which 'has confirmed that it will not demand repayment ... until such time as the Company is able to settle its obligations'; the directors conclude the going-concern basis is appropriate. The auditor's report has no going-concern paragraph.

    Source: Livestock Feeds Plc 2025 Annual Report & Financial Statements (dated 2026-03-25)

  • Revenue

    NGN 37.8 billion

    37,764,577 NGN thousands · p60

    −9.4% vs 2024

  • Operating profit / (loss)

    NGN 374 million

    373,910 NGN thousands · p60

    −92.1% vs 2024

  • Profit / (loss) for the year

    −NGN 3.00 billion

    (2,996,962) NGN thousands · p60

    Moved from profit to loss (FY2024: 1,934,431 NGN thousands)

  • Total assets

    NGN 10.1 billion

    10,136,484 NGN thousands · p61

    −56.7% vs 2024

  • Total equity

    NGN 388 million

    387,708 NGN thousands · p61

    −88.5% vs 2024

  • Cash from operations

    NGN 15.2 billion

    15,212,403 NGN thousands · p63

    +35921.9% vs 2024

Large amounts are rounded for reading (NGN million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.

Financial statements

Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in NGN thousands unless the row says otherwise; brackets are negative.

† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table

Column sources

  • FY2025 — annual report, signed / final; reported for the year · source
  • FY2024 — annual report, signed / final; comparative in the FY2025 filing · source

Income statement

Income statement, NGN thousands. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filing
Revenue 37,764,577 41,669,570
Cost of sales (35,439,415) (35,242,819)
Gross profit 2,325,162 6,426,751
Other operating income 115,595 449,555
Selling and distribution expenses (397,679) (376,305)
Administrative expenses (1,605,552) (1,795,303)
Impairment loss on trade receivables (63,616) –1
Operating profit 373,910 4,704,698
Finance income 114,569 173,089
Finance costs (3,241,284) (2,030,435)
Net finance cost2 (3,126,715) (1,857,346)
(Loss)/Profit before minimum tax3 (2,752,805) 2,847,352
Minimum tax expense4 (189,974) –5
(Loss)/profit before taxation (2,942,779) 2,847,352
Income tax expense (54,183) (912,921)
(Loss)/profit for the year (2,996,962) 1,934,431
Other comprehensive income –6 –6
Total comprehensive (loss)/income for the year (2,996,962) 1,934,431
Depreciation of property, plant and equipment 256,200 203,033
  1. Printed “-”, read as nil: subtotal_arithmetic: is.operating_profit.
  2. Printed “-”, read as nil: subtotal_arithmetic: is.profit_before_tax.
  3. Printed “-”, read as nil: subtotal_arithmetic: is.total_comprehensive_income.
Notes and alternative reported figures (3)
  1. “Net finance cost” is an issuer-specific line, not mapped to a shared definition: Printed subtotal: finance income less finance costs.
  2. “(Loss)/Profit before minimum tax” is an issuer-specific line, not mapped to a shared definition: Printed subtotal before minimum tax.
  3. “Minimum tax expense” is an issuer-specific line, not mapped to a shared definition: Note 14(iv): minimum tax, printed apart from income tax.

Balance sheet

Balance sheet, NGN thousands. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filing
Property, plant and equipment 1,858,321 1,743,712
Intangible assets 102,033 144,782
Right of use assets 445,192 495,120
Deferred tax assets –1 54,183
Prepayments2 8,252 –1
Total non-current assets 2,413,798 2,437,797
Inventories 6,721,783 19,332,397
Trade and other receivables 113,009 152,620
Refund assets3 8,153 5,616
Prepayments4 228,611 249,671
Other financial assets5 17,283 17,283
Cash and cash equivalents 633,847 1,190,658
Total current assets 7,722,686 20,948,245
Total assets 10,136,484 23,386,042
Issued capital 1,500,000 1,500,000
Share premium 693,344 693,344
(Accumulated deficit)/Retained earnings (1,805,636) 1,191,326
Total equity 387,708 3,384,670
Lease liabilities 213,454 167,415
Employee benefits6 508,380 208,380
Total non-current liabilities 721,834 375,795
Trade and other payables 8,711,934 4,983,851
Refund liabilities7 8,195 6,240
Current tax liabilities 208,464 840,249
Dividend payable 17,384 17,384
Lease liabilities 80,965 63,502
Loans and borrowings –8 13,714,351
Total current liabilities 9,026,942 19,625,577
Total liabilities 9,748,776 20,001,372
Total equity and liabilities 10,136,484 23,386,042
  1. Printed “-”, read as nil: subtotal_arithmetic: bs.non_current_assets.
  2. Printed “-”, read as nil: subtotal_arithmetic: bs.current_liabilities.
Notes and alternative reported figures (6)
  1. “Prepayments” is an issuer-specific line, not mapped to a shared definition: Note 20: prepayments due after one year.
  2. “Refund assets” is an issuer-specific line, not mapped to a shared definition: Note 19: right-of-return (refund) assets.
  3. “Prepayments” is an issuer-specific line, not mapped to a shared definition: Note 20: prepayments due within one year.
  4. “Other financial assets” is an issuer-specific line, not mapped to a shared definition: Note 23: unclaimed dividend funds.
  5. “Employee benefits” is an issuer-specific line, not mapped to a shared definition: Note 34(iv): long-term employee benefit obligation.
  6. “Refund liabilities” is an issuer-specific line, not mapped to a shared definition: Note 25(ii).

Cash flow

Cash flow, NGN thousands. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filing
(Loss)/Profit before tax1 (2,942,779) 2,847,352
Amortisation of intangible assets2 57,597 52,756
Depreciation of right of use assets3 49,928 4,161
Impairment of trade receivables4 63,616 –5
Gain on disposal of property, plant and equipment6 (8,218) (14,917)
Write off of trade receivables7 –5 34,077
Minimum tax8 189,974 –5
Finance cost9 3,241,284 2,030,435
Finance income10 (114,569) (173,089)
Provision for long term employee benefits11 300,000 208,380
Operating cash flow before working capital changes (unlabelled subtotal)12 1,093,033 5,192,188
Decrease/(Increase) in inventories13 12,610,614 (9,733,481)
(Increase)/Decrease in trade and other receivables14 (26,542) 1,489,884
Decrease/(Increase) in prepayments15 12,808 (117,306)
Increase in trade and other payables16 2,344,249 3,459,196
Cash outflow generated from operating activities 16,034,162 290,481
Interest paid on leases –17 (5,173)
Income tax paid (821,759) (243,077)
Net cash flows generated from operating activities 15,212,403 42,231
Interest received 113,262 145,134
Proceeds from disposal of PPE 8,218 14,917
Acquisition of intangible assets (14,848) –18
Purchase of property, plant and equipment (370,811) (795,835)
Net cash flows used in investing activities (264,179) (635,784)
Interest paid (2,224,501) (1,797,192)
Proceeds from borrowings 10,810,146 16,454,939
Repayment of borrowings (24,090,608) (13,205,754)
Repayment of lease liabilities –19 (268,365)
Net cash flows generated from financing activities (15,504,963) 1,183,628
(Decrease)/Increase in cash and cash equivalents (556,739) 590,075
Cash and cash equivalents at 1 January 1,190,658 597,257
Net effects of movement of exchange rates on cash held (72) 3,326
Cash and cash equivalents at 31 December 2025 633,847 1,190,658
  1. Printed “-”, read as nil: subtotal_arithmetic: cf.native.co_b8xdcv9mq47q.cf_before_working_capital.
  2. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_operations.
  3. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
  4. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
Notes and alternative reported figures (15)
  1. “(Loss)/Profit before tax” is an issuer-specific line, not mapped to a shared definition: Opening line of the indirect-method operating section.
  2. “Amortisation of intangible assets” is an issuer-specific line, not mapped to a shared definition: Operating adjustment.
  3. “Depreciation of right of use assets” is an issuer-specific line, not mapped to a shared definition: Operating adjustment.
  4. “Impairment of trade receivables” is an issuer-specific line, not mapped to a shared definition: Operating adjustment.
  5. “Gain on disposal of property, plant and equipment” is an issuer-specific line, not mapped to a shared definition: Operating adjustment.
  6. “Write off of trade receivables” is an issuer-specific line, not mapped to a shared definition: Operating adjustment.
  7. “Minimum tax” is an issuer-specific line, not mapped to a shared definition: Operating adjustment.
  8. “Finance cost” is an issuer-specific line, not mapped to a shared definition: Operating adjustment.
  9. “Finance income” is an issuer-specific line, not mapped to a shared definition: Operating adjustment.
  10. “Provision for long term employee benefits” is an issuer-specific line, not mapped to a shared definition: Operating adjustment.
  11. “Operating cash flow before working capital changes (unlabelled subtotal)” is an issuer-specific line, not mapped to a shared definition: Unlabelled subtotal.
  12. “Decrease/(Increase) in inventories” is an issuer-specific line, not mapped to a shared definition: Working-capital change.
  13. “(Increase)/Decrease in trade and other receivables” is an issuer-specific line, not mapped to a shared definition: Working-capital change.
  14. “Decrease/(Increase) in prepayments” is an issuer-specific line, not mapped to a shared definition: Working-capital change.
  15. “Increase in trade and other payables” is an issuer-specific line, not mapped to a shared definition: Working-capital change.

Per share and shares

Per share and shares. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filing
Earnings / (loss) per share (per share)3 (0.9990)1 0.64482
  1. Printed as (99.90) kobo; value converted to NGN at 100 kobo = 1 NGN.
  2. Printed as 64.48 kobo; value converted to NGN at 100 kobo = 1 NGN.
Notes and alternative reported figures (1)
  1. Earnings / (loss) per share: printed as “Basic earnings for the year attributable to ordinary equity holders”.

Segments

Segment data not yet collected for this company in the pilot.

Dividends

Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.

No dividend statement or amount collected.

Sources

Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.

  • Livestock Feeds Plc 2025 Annual Report & Financial Statements

    Year ended 31 December 2025 · Annual report · signed / final

    Audit: KPMG Professional Services (Chartered Accountants), unmodified opinion · signed

    Auditor's sign-off: Omolara O. Ogun, FCA, for KPMG Professional Services

    Final status: Auditor's report 'Signed:' with a hand signature by Omolara O. Ogun, FCA, FRC/2012/PRO/ICAN/004/00000000412, for KPMG Professional Services, Lagos, dated 25 March 2026, with the ICAN stamp (PDF p58, page image; the report runs p54-58). Statements approved and authorised for issue by the board on 17 March 2026 and signed by the chairman, the managing director and the chief financial officer, hand signatures visible (PDF p61, page image).

    Document date
    25 Mar 2026
    Auditor's report
    25 Mar 2026
    Board approval
    17 Mar 2026
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY2025, FY2024
    Basis
    company statements · NGN thousands (printed “N'000”)
    • Image-only statement pages (no text layer) read through OCR. OCR omitted every printed dash and placed several amounts on the neighbouring row (operating profit 2024; total non-current assets 2024; refund assets and current prepayments, whose labels OCR merged; total non-current liabilities 2024; cash-flow adjustments for disposal gain, write-off, minimum tax, finance cost and their subtotal); those cells were read on the render. Two rows were read wholly on the render because OCR misreads their note reference ('8(ii)' for the printed 8(iii) on administrative expenses; '13()' for 13(i) on amortisation), which stops the reading. 'Cash outflow generated from operating activities' is the printed label for an inflow subtotal.
    • Earnings per share printed in kobo ((99.90); 2024: 64.48), basic and diluted identical (p60); stored in naira with the printed figure and unit kept.
    Technical details
    File
    132 pages, scanned (figures read by OCR and checked against the page image)
    SHA-256
    788c7fac18154cfb6e4f0f640a019fec0e7d2d82fe5efd1ef905c2b9d63397d0
    Entity as printed
    Livestock Feeds Plc (the Company); RC: 3315 (PDF p1)
    Issuer copy
    retrieved 2026-10-08T20:38:35Z

Data notes

No figure-level notes beyond those in the tables.

Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to OCR text and compared cell by cell with the page image; read from the page image) (9 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.

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Figures shown on this page (CSV) — the same selected figures at their exact printed values, each with its source document, SHA-256, page, selection rule and reading. Independent review of these figures is pending.

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