The Conglomerate with strategic investments in the Power,
Hospitality, and Energy sectors, recorded a profit after tax of N6.5bn, rising
by 713% up from N0.8bn recorded in June of the previous year. Other key
highlights of the result include the following:
- Revenue rose by 53%, from N35.0bn in June 2020 to N53.3bn in the period under consideration.
- Gross profit grew by 60%, from N14.7bn in June 2020 to N23.5bn in June 2021.
- Profit before tax rose by 689% from N0.9bn in June 2020 to N7.1b in June 2021.
Commenting on the performance, Transcorp’s President/Group
CEO, Mrs. Owen Omogiafo, reiterated the Conglomerate’s commitment towards
producing long-term value and sustainable impact. “We are pleased to see the
sustained growth in our group performance, which was achieved as a result of
the improved performance across all the sectors we operate in. The revenue
achieved in our power business grew by 48%, as a result of improved gas supply
and increased generation capacity”, she stated.
Commenting on the hospitality sector, Omogiafo stated that
the company’s strategic actions have resulted in a growth in revenue of up to
84%, despite the ongoing impact of the COVID-19 epidemic on the Nigerian and
global hospitality industries. She expressed confidence in the company’s
recovery strategies, citing the recent official launch of Aura, the company’s
digital hospitality platform, as a testament to that confidence.
On the Group’s capacity to sustain its performance, Omogiafo
said, “We do not plan to rest on our oars. We will continue to sweat our
existing assets and explore new frontiers, as we continue to deliver on our
purpose of Improving Lives and Transforming Nigeria.”
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