Federal Palace Reports N1.4billion In Revenues From Its Gaming Section (2014 Results)

Federal Palace Hotels the hotel brand owned by Tourist Company of Nigeria posted a revenue of N3.6billion for the year ended June 2014 (2013: N3.7billion). The company also posted a loss after tax of N602.5million (2013: N125million).

The company has two major business segments  hotel and gaming. The hotel segment (net inter segment revenues) contributed N1.9billion (N2billion)  in revenue during the year whilst the gaming section contributed N1.4billion (2013: N1.4billion).

Tourist Company is trading at a price of N3.51 and has a negative return 14%. Sun International South Africa owns 49% of Tourist Company of Nigeria.