Transcorp announces group PAT of N1.89 billion

Transcorp Plc has announced a 7.5 percent increase in the Group’s profit after tax (PAT) to N1.89 billion for the six months period ended June 30, 2016 from N1.76 billion declared in the prior six months.

The unaudited consolidated financial statements posted via The Nigerian Stock Exchange official website, showed that the group’s profit before tax also rose by 10.5 percent to N2.7 billion from N2.5 billion recorded in six months ended June 30, 2015.

The group’s revenue for the period stood at N7.6 billion from N7.2 billion posted in the same period of 2015, representing a 5.1 percent increase, operating profit grew by 5.4 percent to N2.3 billion as net finance income added 72.8 percent from N190.2 million to N328.9 million for the period under review.

Emmanuel Nnorom, President/CEO of Transcorp while commenting on the group’s first quarter results had expressed optimisms on the company’s growth trajectory,

“We are working on sustainable supply sources to cushion the effect of the disruption in gas supply. We remain optimistic that our operating platforms will deliver stronger numbers in Q2 2016 as we proactively manage existing headwinds.” he said