ADVERTISEMENT
  • The Membership Club
  • PT Hausa
  • About Us
  • Advert Rates
  • Careers
  • Contact Us
Sunday, February 28, 2021
Premium Times Nigeria
  • Home
  • COVID-19
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
  • Home
  • COVID-19
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
Premium Times Nigeria
BUA Group Ad BUA Group Ad BUA Group Ad
ADVERTISEMENT
Transcorp-Hillton-Hotel

Transcorp Hillton Hotel Abuja. [Photo credit: Thisday Live]

Transcorp records 158% growth in after tax profit for Third quarter

byIfeoluwa Adeyemo
October 23, 2017
2 min read
ADVERTISEMENT

The Transnational Corporation of Nigeria Plc, Transcorp, recorded a growth in the company’s profit after tax, PAT of 158 per cent Year on Year, YoY, in September 2017.

This was disclosed in a statement sent to PREMIUM TIMES, Sunday, which also announced the financial results for Transcorp’s third quarter, which ended 30th September, 2017.

The group’s Profit after Tax for the third quarter, Q3, of 2017, YoY, stood at N8.2 billion.

PAT, also known as After-tax profit margin is a financial performance ratio, calculated by dividing net profit after taxes by revenue.

A company’s after-tax profit margin is important because it tells investors the percentage of money a company actually earns per dollar of revenue.

According to the statement sent, “the company’s income statement revealed a Q3 2017 revenue of N56.76 billion, significant growth from N41.92 billion, a 35 per cent growth year on year.

“The company’s Gross Profit improved from N19.84 billion in the third quarter 2016 to N25.62 billion resulting in a 45 per cent increase year on year in Q3 2017 along with an Operating Profit of N16.81 billion compared to N11.58 billion reported in Q3 2016.

“Transnational Corporation of Nigeria Plc’s Net Finance Cost for Q3 2017 stood at N7.77 billion, down from N24.37 billion in Q3 2016 while Profit Before Tax was N9.04billion. A significant recovery from reported loss of N12.7billion in Q3 2016.

“Q3 2017 Profit After Tax OF 8.19 billion, a 158% Year on Year growth from loss of 14.21billion in Q3 2016 and Total Comprehensive Income of N10.1billion compared to loss of 13.81billion in Q3 2016 has the conglomerate moving in the right direction for the second consecutive quarter.”

RelatedNews

SSS confirms arrest of Ganduje’s aide sacked for criticising Buhari

ANALYSIS: Omisore’s defection widens Aregbesola, Oyetola’s rift in Osun

ANALYSIS: One year after, five gaps in Nigeria’s management of COVID-19

VIDEO: Nigeria to receive COVID-19 vaccines Tuesday – Official

The statement also revealed that the company total assets grew to N287 billion from N232 billion as at December 31, 2016 while Shareholders Fund grew to N97 billion up from N86 billion in December 2016.

The Chief Executive Officer, Transcorp Plc, Adim Jibunoh, while commenting on the result, said the results were achieved ”largely through improved and sustained production capacity in the power business due to improved gas supply among other initiatives and the positive outlook in their hospitality business.”

“Our power plant has consistently ranked as the number one power producer in the country for Q3 2017 and we are on track for a stronger performance in Q4 2017, as we progress plans to increase our available capacity.

Dangote adbanner 728x90_2 (1)

“In addition, improvements in general economic activity in Abuja (on the back of implementation of FY 2017 budget) and return to operations of newly upgraded room stocks will boost occupancy and top line performance for Transcorp Hotels in Q4 2017,” he said.

Transcorp Plc is a publicly quoted conglomerate with a shareholder base of over 300,000 investors.

  • WhatsApp
  • Tweet
  • Email
  • Print
  • Telegram
  • More
  • Share on Tumblr
  • Pocket

Support PREMIUM TIMES' journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate


TEXT AD: To advertise here . Call Willie +2347088095401...


JOIN THE CONVERSATION

  • Disqus (0)
premiumtimes



PT Mag Campaign AD

Previous Post

215 police officers, others undergo emergency, anti-terrorism training

Next Post

Buhari’s sack of Maina ‘an afterthought’ — Fayose

Ifeoluwa Adeyemo

Ifeoluwa Adeyemo

More News

Members of the board of NASCON.

Salt maker NASCON posts biggest profit jump in three years as cost falls

February 27, 2021
Naira notes used to illustrate market trading

Naira crosses three-month mark in parallel market fall

February 26, 2021
Vice President Yemi Osinbajo speaking at the ministerial retreat[PHOTO CREDIT: @ProfOsinbajo]

Osinbajo opposes cryptocurrency ban

February 26, 2021
Minister of Finance, Zainab Ahmed 1

Unifying Naira’s exchange rate will take time, Nigerian Govt tells World Bank

February 25, 2021
Oando-PLC [Photo Credit: www.oandoplc.com]

SEC speaks on court order nullifying Oando’s AGM ban

February 25, 2021
AMCON

AMCON seizes assets belonging to directors over N1.6bn debt

February 25, 2021
Next Post
Fayose

Buhari’s sack of Maina 'an afterthought' -- Fayose

President Buhari

Buhari to attend ECOWAS conference on common currency in Niger

Discussion about this post

Search

#EndSARS: Latest Updates




Polaris Bank


JAIZ Ad


NITDA Ad





Glo Ad

Subscribe to News via Email

Enter your email address and receive notifications of news by email.

Join 1,626,302 other subscribers.

Advertisement






netherland biz school Advert

Zenith Advert
ADVERTISEMENT

Our Digital Network

  • PT Hausa
  • Election Centre
  • Human Trafficking Investigation
  • Centre for Investigative Journalism
  • National Conference
  • Press Attack Tracker
  • PT Academy
  • Dubawa
  • LeaksNG
  • Campus Reporter

Resources

  • Oil & Gas Facts
  • List of Universities in Nigeria
  • LIST: Federal Unity Colleges in Nigeria
  • NYSC Orientation Camps in Nigeria
  • Nigeria’s Federal/States’ Budgets since 2005
  • Malabu Scandal Thread
  • World Cup 2018
  • Panama Papers Game
  • Our Digital Network
  • About Us
  • Resources
  • Projects
  • Data & Infographics
  • DONATE

All content is Copyrighted © 2020 The Premium Times, Nigeria

No Result
View All Result
  • Home
  • COVID-19
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Health
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • Panama Papers
    • Paradise Papers
    • Parliament Watch
    • AGAHRIN
  • Opinion
  • PT Hausa
  • The Membership Club
  • Dubawa
    • Dubawa NG
  • About Us
  • Advert Rates
  • Careers
  • Contact Us
  • Digital Store
  • DONATE

All content is Copyrighted © 2020 The Premium Times, Nigeria

Our website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.