Transcorp hotels plc post NGN4 billion profit for Q4 2016

Dupe Olusola Transcorp

Transcorp hotels in its financial reported a gross profit of NGN11.4 billion for Q4 2016 compared to NGN10.6 billion posted same period 2015, which represents 7% increase on a year to year comparison.

The company recorded NGN4.0 billion as profit for the year against NGN3.9 billion it recorded in financial year 2015.

Transcorp hotels plc posted operating expenses of NGN4.6 billion for 4 2016 compared to NGN4.7  billion it recorded in fiscal year 205.

The company acquired total assets of NGN90.7 billion in the year in review compared to NGN91.3 billion recorded same period 2015. Transcorp Hotels plc posted total liabilities of NGN37.5 billion in fourth quarter 2016 compared to NGN39.1 billion posted same period 2015.

Corporate information
Transnational Hotels Plc is the hospitality subsidiary of Transnational Corporation of Nigeria Plc (Transcorp), a diversified conglomerate with interests in the Power, Hospitality, Agriculture and Oil and Gas sectors. The company is focused on consolidating all hospitality businesses of the Transcorp Group and providing strategic management to drive the execution of its strategy.

Transcorp Hotels Plc aims to build Africa’s choice hospitality assets, starting from Nigeria but building a strong footprint in high population cities across the West Africa region. With an award-winning property in Abuja; the Transcorp Hilton Hotel Abuja, a destination hotel in Calabar; Transcorp Hotels Calabar, and planned properties in Lagos and Port Harcourt, Transcorp Hotels Plc continues to achieve excellence within the hospitality industry and develop strategies in the medium to long term that position the company as a key industry player on the continent.