Transcorp grows profit by 94% in 2018

Transnational Corporation of Nigeria Plc (Transcorp), Nigeria’s leading diversified listed conglomerate, has announced its audited results for the year ended 31st December 2018, with a 94% growth in Profit After Tax (PAT) of ₦20.6bn in 2018 compared to ₦10.6bn in the prior year.
The Firm saw a 29.74% increase in its revenue, driven by an increase in the revenues of two of its major & active subsidiaries, Transcorp Hotels Plc (up 25.87%y/y to ₦17.42bn) & Transcorp Power Limited (up 30.55%y/y to ₦86.74bn) in 2018.

Despite the rise in Cost of Sales and General & Administrative Expenses, Profit Before Tax (PBT) surged by 82.05%y/y to ₦22.40bn while Profit After Tax (PAT)
climbed by 94.46%y/y to ₦20.63bn.
The firms Return on Asset (ROA) and Return on Equity (ROE) both improved significantly to 6.97% and 19.6% respectively in FY 2018 from 3.7% and 11.1% the previous year.

45% of the firm’s PAT (₦9.31bn) goes to the Equity holders in the parent company, while 55% (₦11.31bn) goes to non-controlling interest.
The firm’s EPS for the equity shareholders stands at 23Kobo, a 94.46% increase compared to the preceding year.

A dividend of 3kobo for FY 2018 has been declared to be paid on February 28th, 2019.
Reflecting on the results, the Chairman of Transcorp, Mr. Tony O. Elumelu, CON, stated, “We remain committed to our purpose of improving lives and transforming Nigeria by powering our industries and businesses while providing our local and international guests with unrivalled hospitality services. This is our way of creating sustainable value for all our stakeholders.”

February 18, 2019