Transnational Corporation of Nigeria Plc (Transcorp) has released its financial results for the period ended 30th September 2018. Transcorp grew revenue and profit after tax by 40.71% and 95.03% respectively in Q3’18. The revenue was impacted by improved returns on hospitality, power and corporate centre.
The firm’s finance income increased significantly from interest on loans issued out during the period. Profit margin increased marginally to 19.99% against 14.42% in Q3 ’17. The company has a current ratio of 0.96, an increase (compared to Q3’17). Though there is an improvement, it is still below the standard.
A 17.37kobo EPS representing a 115.51% growth over Q3 2017, implies dividend higher than what was declared in 2017 should be expected.
Brand Spur gathered that the administrative expenses increased in the first nine months of this year to N11.557 billion from N9.395 billion, while the finance cost rose to N7.492 billion from N7.196 billion.