Transcorp Records N13.36bn Profit.

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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 N62.9bn; 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.

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.


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