The Transnational Corporation of Nigeria Plc (Transcorp), has released its half year results, showing significant rise on all financial parameters, mirroring an improving economy.
The group announced a profit after tax of N4.29 billion compared with a loss after tax of N798.7 million it recorded in the corresponding period of 2016, as total revenue increased 38 percent from N24.8bn to N34.2bn
The financial results for first half ended June 30, 2017, showed Gross Profit was up 30 per cent from N11.5 billion to N14.9 billion while operating Profit soared 57 percent to N9.5 billion from N6.1 billion
Transcorp group Net Finance cost stood at N4.98bn compared to N17.3bn in H1 2016; Tax was moderated to 368.5million compared to N984mn in H1 2016, and Profit Before Tax settled at N4.5bn compared to a loss of N11.2 billion in H12016;
Balance Sheet showed Total Assets stood at N264.3bn up 14 per cent from N232.2bn as at 31 December 2016 and Shareholders Fund was N92.7bn up 7.2 per cent from N86bn as at December 2016.
