Business

Transcorp Hotels records 18.46% Pretax Profit growth in 2015

Published

10 years ago

on

March 29, 2016

By

Feyijimi Emmanuel

By Chioma Obinagwam

Transcorp Hotels Plc, the hospitality unit of Nigeria’s conglomerate, Transnational Corporation of Nigeria Plc has said its pre-tax profit for the period ended December 31, 2015 rose 18.46 per cent to N5.38 billion from N4.54 billion declared in the corresponding period of 2014.

Also, Profit After Tax (PAT) grew 8.59 per cent to N3.50 billion from N3.22 billion posted in the same period of 2014.

ALSO SEE: NSE admits Transcorp Hotels N9.76 bn unsecured bonds

Total Equities and Liabilities advanced to N91.34 billion from the N69.62 billion that was achieved in the prior year.

However, Revenue of Transcorp Hotels declined from N15.11 billion in 2014 to N13.98 billion reported in the review period of 2015.

In the same manner, Gross Profit dipped to N10.62 billion from the N11.60 billion posted in the corresponding year.

Related Topics:Transcorp Hotels Plc Transnational Corporation of Nigeria Plc

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Vote-buying remains a major concern One of the strongest warnings from Osun was the continued presence of vote-buying and voter inducement. Yiaga Africa said the results declared by the Independent National Electoral Commission (INEC) were consistent with its independent statistical projections, but cautioned that this did not remove concerns about the integrity of voters' choices amid reports of vote-buying and inducement. The concern is particularly significant ahead of 2027, when political competition will take place nationwide and involve presidential, National Assembly and state-level contests. The International Republican Institute (IRI), following a pre-election assessment mission conducted in August, identified monetised political competition, election-related violence, insecurity and declining public confidence in INEC among the structural challenges facing the 2027 elections. 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