{"id":53637,"date":"2021-11-04T14:40:12","date_gmt":"2021-11-04T13:40:12","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=53637"},"modified":"2021-11-04T14:42:28","modified_gmt":"2021-11-04T13:42:28","slug":"transcorp-delivers-robust-q3-results","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/transcorp-delivers-robust-q3-results\/","title":{"rendered":"Transcorp Delivers Robust Q3 Results"},"content":{"rendered":"<ul type=\"square\">\n<li class=\"yiv0017584703MsoNoSpacing\"><span lang=\"EN-US\">Records accelerated PBT growth of 671%<\/span><\/li>\n<\/ul>\n<ul>\n<li><span lang=\"EN-US\">Hospitality subsidiary, Transcorp Hotels, returns to profitability amidst the Covid-19 pandemic<\/span><\/li>\n<\/ul>\n<p>Nigeria\u2019s leading and largest listed diversified conglomerate, Transnational Corporation of Nigeria Plc (Transcorp) has\u00a0<span lang=\"EN-US\">released<\/span> its unaudited results for the third quarter ended September 30,<span lang=\"EN-US\"> 20b21,<\/span>\u00a0indicating\u00a0<span lang=\"EN-US\">sustained growth in<\/span>\u00a0202<span lang=\"EN-US\">1 as seen in the first two quarters of year.<\/span><\/p>\n<p class=\"yiv0017584703MsoNormal\"><span lang=\"EN-US\">With\u00a0<\/span>strategic investments in the Power, Hospitality, and Energy sectors,\u00a0<span lang=\"EN-US\">the conglomerate\u00a0<\/span>recorded a profit after tax of N<span lang=\"EN-US\">13<\/span>.5bn<span lang=\"EN-US\">,<\/span>\u00a0rising by\u00a0<span lang=\"EN-US\">617<\/span>% up from N<span lang=\"EN-US\">1.75bn<\/span>\u00a0recorded\u00a0<span lang=\"EN-US\">in the\u00a0<\/span>previous<span lang=\"EN-US\">\u00a0year.<\/span><b><\/b><\/p>\n<p class=\"yiv0017584703MsoNormal\"><b><span lang=\"EN-US\">Other key highlights of the result include the following:<\/span><\/b><b><\/b><\/p>\n<ul type=\"disc\">\n<li class=\"yiv0017584703xmsolistparagraph\"><span lang=\"EN-US\">Revenue<\/span>\u00a0rose by 5<span lang=\"EN-US\">7<\/span>%<span lang=\"EN-US\">,<\/span>\u00a0from N<span lang=\"EN-US\">54<\/span>.<span lang=\"EN-US\">4<\/span>bn in\u00a0<span lang=\"EN-US\">Q3<\/span><span lang=\"EN-US\">\u00a0<\/span>2020 to N<span lang=\"EN-US\">85<\/span>.<span lang=\"EN-US\">6<\/span>bn in the period under consideration<span lang=\"EN-US\">.<\/span><\/li>\n<li class=\"yiv0017584703xmsolistparagraph\"><span lang=\"EN-US\">G<\/span>ross profit grew by\u00a0<span lang=\"EN-US\">74<\/span>%<span lang=\"EN-US\">,<\/span>\u00a0from N<span lang=\"EN-US\">22.<\/span>7bn<span lang=\"EN-US\">\u00a0in Q3 2020<\/span>\u00a0to N<span lang=\"EN-US\">39<\/span>.<span lang=\"EN-US\">4<\/span>bn in\u00a0<span lang=\"EN-US\">Q3<\/span>\u00a02021.<\/li>\n<li class=\"yiv0017584703xmsolistparagraph\">Profit before tax\u00a0<span lang=\"EN-US\">accelerated by 671% from\u00a0<\/span>N<span lang=\"EN-US\">1.75bn<\/span>\u00a0in\u00a0<span lang=\"EN-US\">Q3<\/span>\u00a02020<span lang=\"EN-US\">\u00a0to a significant N13.5b in Q3 2021<\/span>.<\/li>\n<\/ul>\n<p class=\"yiv0017584703MsoNormal\">Mrs. Owen Omogiafo, President\/Group CEO of Transcorp, c<span lang=\"EN-US\">ommenting\u00a0<\/span>on the performance<span lang=\"EN-US\">\u00a0said<\/span>\u00a0&#8220;<span lang=\"EN-US\">the<\/span>\u00a0results reflect the\u00a0<span lang=\"EN-US\">continued commitment<\/span>\u00a0by the group to improve performance across all the\u00a0<span lang=\"EN-US\">sectors<\/span>\u00a0in which we operate. Our power business increased by 49<span lang=\"EN-US\">%<\/span>\u00a0year on year, while our hospitality business increased by 115<span lang=\"EN-US\">%<\/span>.\u201d<\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div>\n<p class=\"yiv0017584703MsoNormal\"><span lang=\"EN-US\">Omogiafo indicated that the company intends to complete the year with another quarter of excellent year-over-year growth, thanks to its scalability and sustainability strategy.<\/span><\/p>\n<p class=\"yiv0017584703MsoNormal\">Omogiafo said,\u00a0\u201c<span lang=\"EN-US\">Our outlook for the rest of the year remains positive despite some macro-economic issues. We are particularly excited by the performance of our Hospitality business and its recovery following the impact of the Covid pandemic. We have remained on track regarding our capacity recovery plan in our Power business and despite the systemic challenges in the Power sector, Transcorp remains a strong contributor to the power generated in the country. We will continue to drive operational efficiency and focused on delivering value to all stakeholders as we work towards building a long-lasting institution that would deliver on our purpose of Improving Lives and Transforming Nigeria.<\/span>\u201d<\/p>\n<p class=\"yiv0017584703MsoNormal\">\n<\/p><!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Nigeria\u2019s leading and largest listed diversified conglomerate, Transnational Corporation of Nigeria Plc (Transcorp) has\u00a0released its unaudited results for the third quarter ended September 30,\u00a02021,\u00a0indicating\u00a0sustained growth in\u00a02021 as seen in the first two quarters of year.<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[1512],"coauthors":[2391],"class_list":["post-53637","post","type-post","status-publish","format-standard","","category-business","category-news","tag-transcorp"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Transcorp Delivers Robust Q3 Results - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/transcorp-delivers-robust-q3-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Transcorp Delivers Robust Q3 Results - National Wire\" \/>\n<meta property=\"og:description\" content=\"Nigeria\u2019s leading and largest listed diversified conglomerate, Transnational Corporation of Nigeria Plc (Transcorp) has\u00a0released its unaudited results for the third quarter ended September 30,\u00a02021,\u00a0indicating\u00a0sustained growth in\u00a02021 as seen in the first two quarters of year.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nationalwire.com.ng\/sub\/transcorp-delivers-robust-q3-results\/\" \/>\n<meta property=\"og:site_name\" content=\"National Wire\" \/>\n<meta property=\"article:published_time\" content=\"2021-11-04T13:40:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-11-04T13:42:28+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Friday Ekeoba\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/\",\"name\":\"National Wire\",\"description\":\"About Nigerians, Nigerian Business and Other Stories\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/transcorp-delivers-robust-q3-results\/#webpage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/transcorp-delivers-robust-q3-results\/\",\"name\":\"Transcorp Delivers Robust Q3 Results - National Wire\",\"isPartOf\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\"},\"datePublished\":\"2021-11-04T13:40:12+00:00\",\"dateModified\":\"2021-11-04T13:42:28+00:00\",\"author\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927\"},\"breadcrumb\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/transcorp-delivers-robust-q3-results\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/nationalwire.com.ng\/sub\/transcorp-delivers-robust-q3-results\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/transcorp-delivers-robust-q3-results\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/nationalwire.com.ng\/sub\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Transcorp Delivers Robust Q3 Results\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927\",\"name\":\"Friday Ekeoba\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/author\/friday\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Transcorp Delivers Robust Q3 Results - National Wire","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/nationalwire.com.ng\/sub\/transcorp-delivers-robust-q3-results\/","og_locale":"en_US","og_type":"article","og_title":"Transcorp Delivers Robust Q3 Results - National Wire","og_description":"Nigeria\u2019s leading and largest listed diversified conglomerate, Transnational Corporation of Nigeria Plc (Transcorp) has\u00a0released its unaudited results for the third quarter ended September 30,\u00a02021,\u00a0indicating\u00a0sustained growth in\u00a02021 as seen in the first two quarters of year.","og_url":"https:\/\/nationalwire.com.ng\/sub\/transcorp-delivers-robust-q3-results\/","og_site_name":"National Wire","article_published_time":"2021-11-04T13:40:12+00:00","article_modified_time":"2021-11-04T13:42:28+00:00","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Friday Ekeoba","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/nationalwire.com.ng\/sub\/#website","url":"https:\/\/nationalwire.com.ng\/sub\/","name":"National Wire","description":"About Nigerians, Nigerian Business and Other Stories","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/nationalwire.com.ng\/sub\/transcorp-delivers-robust-q3-results\/#webpage","url":"https:\/\/nationalwire.com.ng\/sub\/transcorp-delivers-robust-q3-results\/","name":"Transcorp Delivers Robust Q3 Results - National Wire","isPartOf":{"@id":"https:\/\/nationalwire.com.ng\/sub\/#website"},"datePublished":"2021-11-04T13:40:12+00:00","dateModified":"2021-11-04T13:42:28+00:00","author":{"@id":"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927"},"breadcrumb":{"@id":"https:\/\/nationalwire.com.ng\/sub\/transcorp-delivers-robust-q3-results\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/nationalwire.com.ng\/sub\/transcorp-delivers-robust-q3-results\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/nationalwire.com.ng\/sub\/transcorp-delivers-robust-q3-results\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/nationalwire.com.ng\/sub\/"},{"@type":"ListItem","position":2,"name":"Transcorp Delivers Robust Q3 Results"}]},{"@type":"Person","@id":"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927","name":"Friday Ekeoba","url":"https:\/\/nationalwire.com.ng\/sub\/author\/friday\/"}]}},"_links":{"self":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/53637","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/comments?post=53637"}],"version-history":[{"count":2,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/53637\/revisions"}],"predecessor-version":[{"id":53642,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/53637\/revisions\/53642"}],"wp:attachment":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/media?parent=53637"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/categories?post=53637"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/tags?post=53637"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/coauthors?post=53637"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}