Transcorp

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Mar 31 Transcorp to Hold 8th Annual General Meeting
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

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About Transcorp

Transcorp is a diversified conglomerate with core interests in three sectors:

  • Agribusiness
  • Hospitality
  • Energy

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


TRANSCORP RECORDS PBT OF N9 BILLION
 
Recommends historic payment of N1.9bn dividend to shareholders
 
Lagos, Nigeria, March 3, 2014 – Transnational Corporation of Nigeria Plc (Transcorp) has announced it will pay a dividend for the first time in its history. This announcement is contained in the Group's audited and consolidated financial statements for the year ended December 31, 2013. The Directors recommended a dividend of N1.93bn to be paid to shareholders on the basis of 5 kobo per share.
 
The Group also announced  a strong increase in  turnover, of N18.8 billion, representing a 42% rise over the N13.2 billion recorded in the corresponding period in 2012. Profits before tax rose by 129% from N3.9 billion in 2012 to N9.0 billion in 2013.
 
President and Group Chief Executive Officer, Mr. Obinna Ufudo stated:

Our full year audited accounts reflect our commitment to our long term strategic plan, translating into strong and sustainable growth. We are excited about the achievements we recorded across our businesses within the past year. Our entry into the power sector has been a significant driver and we are already running ahead of our 2014 estimates. We expect significantly better results this year, as our diversification and growth strategies continue to gain momentum.
 
According to Transcorp Chairman Tony O. Elumelu:
 
We are particularly pleased to be able to recommend a dividend to shareholders for the first time in the company’s history. This is the beginning of a very bright future for all our patient and loyal shareholders. With the tremendous progress we have already recorded in our power business – taking the Ughelli plant’s power output from 160mw when we took over on November 1, 2013 to 360mw within 3 months – 2014 promises to be a very rewarding year for the company and our 300,000 shareholders.
 
The company also announced that its Annual General Meeting will be held on March 31, 2014 at the Lagos Oriental Hotel, Victoria Island, Lagos.