Transcorp Hotels Plc recently reported that its first quarter (Q1), which ended March 31, 2024, unaudited financial statements posted on the Nigerian Exchange Limited (NGX) floor reflect its continued excellent financial results.
In Q1 2024, Transnational Corporation Plc (Transcorp Group), one of the biggest listed African conglomerates, reported N13.8 billion in revenue, a 72% increase from the N8 billion reported in Q1 2023. This is the hospitality subsidiary of Transcorp Group.
Transcorp Hotels Plc's profit before taxes for Transcorp Hotels ended Q1 2024 at N6 billion, up 568% from N911.6 million in Q1 2023.
According to the report, the company's profit after tax rose to N5 billion in Q1 2024, an 844% increase from N531 million in the same period the previous year.
Commenting on the report, Dupe Olusola, the Managing Director/CEO of Transcorp Hotels, said, "Our excellent first quarter performance marks the beginning of another great year for our company. We broke our monthly revenue record in March, demonstrating our commitment to excellence and superior performance."
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