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Transcorp Declares N16b Profit in 9 Months

By Dipo Olowookere

The board of Transnational Corporation of Nigeria (Transcorp) Plc has announced a profit before tax of N17.717 billion for the period ended September 30, 2018. This is contrast to the N9.042 billion achieved as at September 30, 2017.

Transcorp, in its financial statements released on Tuesday and briefly checked by Business Post, declared a profit after tax of N15.962 billion compared with the N8.185 billion achieved in the same period of last year.

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In addition, the revenue generated by the firm grew to N79.861 billion from N56.757 billion, while the gross profit went up to N36.960 billion from N25.622 billion.

Also, the finance income increased to N901.057 million from N577.692 million, while the operating profit for the period under consideration jumped to N25.930 billion from N16.810 billion.

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However, the administrative expenses increased in the first nine months of this year to N11.557 billion from N9.395 billion, while the finance cost rose to N7.492 billion from N7.196 billion.

A look at its earnings per share (EPS) showed that this jumped to 17 kobo from 8 kobo.

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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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