Transcorp records 14% growth in profit for Q1 2017

Triple Gee

Transcorp plc ended the first quarter of the financial year 2017 with NGN15.7 billion revenue compared to NGN13.1 billion recorded in the financial year 2016.

Its costs of sales for the quarter was NGN8.8 billion against NGN7.2 billion recorded in the previous year.

The hotel in the report showed that its gross profit jumped to NGB6.9 billion against NGN5.9 billion recorded in the year 2016. With an operating profit of NGN4.2 billion in contrast to NGN3.2 billion recorded in the fiscal year 2016.

According to the report, Transcorp profit before tax remained at NGN1.7 billion as it were in 2016. After settling its tax for the period, the profit for the period increased by to NGN1.4 billion compared to NGN1.2 billion recorded in the year before.

Transcorp plc said it acquired assets worth NGN244.8 billion against NGN232.1 billion acquired same period 2016. Its total liabilities was NGN156.3 billion versus NGN145.7 billion in 2016.

For more details on the report, click  here>>

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