Trans-nationwide express plc, also known as Tranex is turning in one of the smallest profit for a company quoted on the Nigerian Stock Exchange.
Trans-nationwide express ended the year with revenue of NGN803.7 million compared to NGN798.5 million recorded in 2015.
Its direct cost for its operations rose to NGN360.2 million compared to NGN310.7 million recorded in 2015.
The company posted a gross profit of NGN443.4 million in the financial report for fourth quarter 2016 compared to NGN487.8 million recorded in the same period 2015.
The company’s profit before taxation was NGN30.2 million compared to NGN75.6 million recorded in the previous year. The profit for the year in review fell by 60% to NGN20. 1 million from NGN50.9 million recorded in the financial year 2015.
Trannex’s total asset was NGN564.5 million in 2016 compared to NGN656.2 million acquired in 2015. It’s total liabilities for the period was NGN137.1 million compared to NGN228.2million recorded in 2015.
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