Transcorp Hotels Reports N3.93 Billion Pretax Profit for Nine Months Ended 30 September


By InvestAdvocate

Lagos (INVESTADVOCATE)- Transcorp Hotels Plc, the hospitality unit of Nigeria’s top tier conglomerate, Transnational Corporation of Nigeria Plc on Friday said its pretax profit for the nine months period ended September 30, 2016 rose 14.7 percent to N3.93 billion from N3.42 billion recorded a year ago.

Post-tax profit grew 13.9 percent to N2.67 billion from N2.34 billion declared the same period of last year.

Revenue of the hotelier rose from N10.46 billion in 2015 nine months period to N11.47 billion in the review period of 2016; indicating a rise of 9.65 percent, Transcorp Hotels said in a filing with the Nigerian Stock Exchange (NSE)

Shares of the conglomerate TRANSCORP at the close of the session on the Nigerian equities market declined 1.01 percent to 0.98 kobo from 0.99 kobo traded the previous day; losing 0.01 kobo per share.

Click here to download unaudited consolidated financial statements for the period ended September 30, 2016