Tourist Company of Nigeria (Federal Palace Hotels) Post Q3 2013, N52million Pre-tax Loss

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Tourist Company of Nigeria owners of the Federal Palace Hotel released its Q3 2013 results with revenues rising 19% to N942million when compared against the same period last year. The company has been bogged down by operating expenses which was N528million in the period under review. Finance Cost was N100.2million.

The company will go on to post a pre-tax loss of N52.8million compared to N147million loss in the prior year.

Tourist Company of Nigeria 2013 Q3 result was posted on the website of the NSE