Transcorp Hotels records 18.46% Pretax Profit growth in 2015

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.

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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.