TransCorp’s Q3 2017 advances profitability to N8.2bn

The Transnational Corporation (Transcorp) Nigeria Plc, for the third quarter ended 30 September 2017 showed sustained growth all performance measuring indices, coming out of loss position in 2016 financial year.

The company’s unaudited financial statement for the Q3 period released by the Nigerian Stock Exchange (NSE) recently showed resilience, volume growth and profitability, just as cost of sales and operating expenses remains upbeat.

According to the result, Profit/ (Loss) for the period peaked at N8,185,232billion, a far cry from the loss position of N14,208,128bn posted as at the 30th September, 2016. It will be recalled that Transcorp recorded N4.2bn PAT for the half-year ended 30th of June, 2017. This translated into 134 per cent growth compared to the loss of N12.19bn recorded in the corresponding period in 2016.

Operating profit rose to N16,810,058bn, from N11,583,640bn posted same period I n 2016, Revenue rose to N56,756,794 from N41,921,050 in 2016 Q3.Transcorp’s group’s total assets rose to N277, 528,802bn, as at the end of third quarter, which was against N232, 160,731bn posted in the 31 December 2016. Total liabilities rose to N180, 557,894bn, from N145,712,134bn in December 2016

However, administrative expenses rose to N9, 395,404bn from N8, 966,826bn posted in q3 2016, while finance cost also rose to N7,196,178bn, from N6,702,527 recorded in the preceding Q3 2016.

Cross- section of market analysts have projected of robust growth by the company for the 2017 financial year, and a sustained reward on investment to shareholders through dividend payment.

This may be attributable to the company’s recent gain in equity pricing, ostensibly driven by investors taking position for future pricing and earnings by the firm.

Transnational Corporation of Nigeria Plc, (“the Company” or “Transcorp”), was incorporated on 16 November, 2004, as a private limited liability Company domiciled in Nigeria in accordance with the requirements of the Companies and Allied Matters Act.

Following a successful initial public offer (IPO), the company, was in December 2006, listed on the Nigerian Stock Exchange. The shares of the company have continued to be traded on the floor of the Exchange.