Transcorp Hotels Says H1 2017 Pretax Profit Down 60.1%

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By InvestAdvocate

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Lagos (INVESTADVOCATE)-Transcorp Hotels Plc, the hospitality unit of Nigeria’s top tier conglomerate, Transnational Corporation of Nigeria Plc on Thursday said its pretax profit for the half-year (H1) period ended June 30, 2017 declined 60.1 percent to N1.09 billion from N2.74 billion recorded a year ago.

Post-tax profit also dipped 59.9 percent to N757.62 million from N1.88 billion posted the corresponding period of 2016.

Revenue of Transcorp Hotels depreciated from N7.60 billion to N6.19 billion declared the review period of 2017; indicating a slump of 18.5 percent, the Hotelier said in a filing with the Nigerian Stock Exchange (NSE).

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