Punch Newspapers punchng.com 01 Aug, 2022 04:15 am

Transcorp records N13.36bn profit

Transcorp records N13.36bn profit
Transnational Corporation Plc has said it recorded N13.36bn profit before tax in the first six months of 2022.

A statement from the conglomerate with investments in hospitality, power, and oil & gas sectors, on its half-year results for the year ended June 30th, 2022, showed an improved performance across all its major investment lines.It stated, “The conglomerate with strategic investments in power, hospitality and oil & gas recorded a revenue of N62.2bn in 2021 Energy, our biggest operational cost, says Transcorp Transcorp appoints new independent non-executive director Commenting on the performance, Transcorp’s President/Group Chief Executive Officer, Mrs Owen Omogiafo, attributed the Group’s continued strong performance to growth in its power and hospitality businesses, which continued to perform excellently despite the tough operating environment.36bn profit before tax in the first six months of 2022.

“Its half-year un-audited results released to the Nigerian Stock Exchange also showed that profit before tax grew by 90 per cent, from N7.3bn in the period under review , while profit after tax stood at 12.

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