Transcorp records N13.4bn net profit in Q3

Transnational Corporation of Nigeria (Transcorp Plc) has posted a N13.467 billion Profit After Tax (PAT) for third-quarter 2021. The performance represents N11.721bn growth, compared with N1.746bn recorded in the third quarter of 2020. It also showed a 672.1 per cent year-on-year change. The group also said its profit before tax for the quarter of 2021 […]

Transnational Corporation of Nigeria (Transcorp Plc) has posted a N13.467 billion Profit After Tax (PAT) for third-quarter 2021.

The performance represents N11.721bn growth, compared with N1.746bn recorded in the third quarter of 2020. It also showed a 672.1 per cent year-on-year change.

The group also said its profit before tax for the quarter of 2021 stood at N14.127bn, a N12.107bn increase from N2.020bn recorded in the same quarter in 2020, with a 599.5 per cent Y-o-Y change.

The group’s gross earnings and gross profit stood at N85.588bn and N39.366bn, respectively, compared to N54.378bn and N22.723bn recorded as of September 30, 2020.

Speaking during the group financial performance report- Transcorp Q3 2021 Analyst Presentation and Investor Call’, President/Group CEO, Transcorp Plc, Owen Omogiafo said: “Transcorp Plc remains a diversified conglomerate with commanding presence in the power, oil & gas and hospitality sectors. 

“We also have strong financial performance with an aggressive growth agenda.  Our deeply rooted values are the 3Es of execution, enterprise and excellence”