Leading conglomerate, Transnational Corporation Plc also known as Transcop has disclosed that it recorded N13.36bn profit before tax in the first six months of 2022.
In a statement disclosing its half year results for the year ended June 30th, 2022, Transcorp 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 N62.9bn, representing a growth of 18 per cent when compared to N53.3bn recorded in the same period under review in 2021.
“Its operating income grew by 25 per cent from N16.3bn in 2021 to N20.5bn in the same period.
“Its half-year un-audited results released to the Nigerian Stock Exchange also showed that profit before tax grew by 90 per cent, from N7.1bn to 13.3bn in the period under review , while profit after tax stood at 12.0bn, representing an 85 per cent increase from N6.5bn from the previous year. The Group’s Shareholders’ funds also grew by eight per cenet from N146.3bn to N157.5bn in the same period.”
