Transcorp Hotels profit jumps 36 percent
Transcorp Hotels Plc posted revenue gains of 49 percent and pretax profit increases of 36 percent for the nine months that ended on September 30. The hospitality company earned 72.31 billion naira compared with 48.49 billion naira in the same period one year earlier. Net profit reached 14.82 billion naira while earnings per share climbed from 1 naira to 1.45 naira.
Chairman Emmanuel Nnorom said the results demonstrate the firm’s focus on efficient operations and customer service within the hotel sector. Managing Director Uzo Oshogwe noted the company opened a 5,000-seat event center to attract international conferences. The business recently received three recognitions from the Seven Star Luxury Awards for excellence in hospitality and leadership.
