|Jun 21||Transcorp Holds 7th Annual General Meeting|
|Apr 30||Transcorp Holds Completion Board Meeting|
|Mar 28||Transcorp holds Extraordinary General Meeting|
|Jan 30||Transcorp holds Extraordinary General Meeting|
|May 04||6th Annual General Meeting to hold May 4, 2012|
Transcorp is a diversified conglomerate with core interests in three sectors:
Transcorp's business model is built on:
- Equity investments in assets with high recovery margins
- Quick-term-to-profit horizon limit
- Significant owner control to permit strategic flexibility
- Partnerships with globally respected sector operators to manage assets
- Optimal capital structure to maximize shareholder returns
- Carefully designed turnaround programs which enhance the business sustainability of acquired assets
- Rigorous analysis of market entry mode with in-depth consideration of the opportunities of acquisitions versus Greenfield investments.
Transcorp is one of the most experienced operating asset buyout investors in Nigeria and has built unrivalled in-house expertise in the transformation of these companies.
Transcorp shares are traded on the Nigerian Stock Exchange under the ticker symbol TRANSCORP. The company's Reuters symbol is TCNP.LG.
Latest Results Highlights
Transnational Corporation of Nigeria PLC has published its unaudited financial statement for the 9-month period ended September 30, 2013.
Commenting on the latest results, Obinna Ufudo, President/CEO, said that:
We are pleased to present our third quarter results which follow our now established trend of steady improvement.
- Gross earnings for the Group stood at N16.1bn which represents 102% of full year 2012 earnings of N15.8bn
- Group PBT for the period was N5.1bn representing 30% increase over PBT for full year 2012 of N3.9bn
- Total assets for the Group grew by 53% from N75.6bn for full year 2012 to N115.8bn as at the third quarter ended September 2013.
Overall, our financial results till date reflect the effective execution of several strategic initiatives and the restructuring of our businesses. We are pleased with the stable and positive growth of our earnings, and are already working out plans to further improve on it.
We expect to consolidate on our strong financial results in the near term as we take over the ownership and operations of the 1000mw capacity Ughelli Power Plant and commence refurbishment and upgrade of our existing hospitality assets as well as development of new hotels.
Furthermore, we are poised to exploit identified opportunities in the oil and gas and agriculture sectors to add new assets to our existing portfolio of investments. Overall, we believe that our expanding portfolio of investments will deliver a platform for strong growth and sustainable value in the years ahead.
The abridged financial results are shown in the table below. It may be downloaded here.