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TRANSCORP HOTELS
news and stories about transcorp hotels
This piece examines the SWOOTs on the Nigerian Exchange that have gained more than 20% so far this year.
Transcorp Hotels Plc (“Transcorp Hotels” or the “Company”), the hospitality subsidiary of Transcorp Group, has announced an impressive financial performance for the 2024 fiscal year, reinforcing its position as a market leader in the industry.
Transcorp Hotels Plc has reported a profit before tax (PBT) of N22.613 billion for the year ended December 31, 2024, marking an impressive 138.48% year-on-year (YoY) growth.
Transcorp Plc has once again drawn significant attention with its strong performance in the first half of 2024, showcasing impressive growth and reinforcing market confidence.
Dangote Cement Plc, the most capitalized stock on the Nigerian Exchange (NGX), recorded a 9.99% decline on the NGX today, resulting in a N1.12 trillion loss in its market value.
Transcorp Hotel recorded a net profit of N1.6 billion, marking a 22% YoY decline from the N2.04 billion posted in Q2 2023.
Airtel Africa Plc posted a 4.76% gain, representing a N376 billion equity gain to boost the NGX to a 0.47% gain today.
The Nigerian Exchange (NGX) on July 4 recorded a slight decline, as the All-Share Index closed at 100,063.32 points, from the opening 100,299.48 points.
The All-Share Index (ASI) of the Nigerian Exchange has crossed the 100,000 mark for the first time since April 16, 2024.
Shareholders of Transcorp Hotels Plc have endorsed the recommendation of the board of directors for a dividend of N2.05 billion for the financial year ending December 31, 2023.
Since the start of April 2024, the NGX has been a bearish run, with the All-Share Index declining by 6.16%, and the market capitalization declining by N3.63 trillion within the same period.
The company also targets to complete a 315-key 5-star hotel with features of relaxation and lifestyle center, located in the heart of Ikoyi, Lagos by 2027