TRANSNATIONAL CORPORATION OF NIGERIA Plc. (Transcorp), a conglomerate with subsidiaries in the hospitality and Power sector, released its FY 2018 results for the period ended December 31st, 2018 to the market on February 18th, 2019.

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.

SOURCE: https://brandspurng.com/2019/02/18/transcorp-grows-profit-by-94-in-2018/