Abuja, Nigeria – Transnational Company Plc, extensively referred to as Transcorp, has delivered a stellar monetary efficiency for the 12 months ended December 31, 2024, recording a complete income of N408bn—a 107% bounce from N197bn in 2023. The spectacular figures underscore the group’s strategic positioning and market management amid a difficult macroeconomic setting.
A major driver of this progress was the electrical vitality and capability section, which generated N338bn in income, accounting for 82.84% of the group’s whole earnings. This section alone skilled a exceptional 116.67% surge from N156bn in 2023.
The audited monetary outcomes additionally revealed sturdy profitability throughout the board. Revenue earlier than tax soared by 132% to N136.7bn from N58.8bn within the earlier 12 months, whereas revenue after tax climbed 188% to N94.1bn, up from N32.6bn. Working revenue elevated by 83% to N149.0bn in comparison with N81.4bn, whilst working bills rose 105% to N62.8bn—reflecting each inflationary pressures and strategic investments to bolster operational capability.
Transcorp additionally recorded a forty five% discount in internet finance value, which fell to N12.4bn, attributed largely to the entire reimbursement of overseas forex loans. Earnings per share improved markedly from N0.40 in 2023 to N1.45 in 2024, whereas the group’s whole belongings expanded by 42%, reaching N751.6bn from N529.9bn on the finish of 2023.
In an extra increase to shareholder worth, Transcorp declared a full-year dividend of N10.1bn, equating to N1.00 per odd share.
Talking on the outcomes, Dr Owen Omogiafo, President/Group Chief Govt Officer of Transcorp, mentioned, “Our 2024 monetary efficiency displays the sustainable worth creation technique of Transcorp Group. We’ve been in a position to constantly report spectacular progress throughout all indices 12 months on 12 months, regardless of the difficult macroeconomic setting.
“Within the sectors we function, we’ve delivered constant progress by leveraging operational effectivity, strategic investments, and an uncompromising concentrate on worth creation for our shareholders. Wanting forward, we’ll deepen our progress trajectory by seizing rising alternatives and strengthen our place throughout Nigeria’s energy, hospitality and vitality sectors whilst we think about extra sectors that take us nearer to our objective of enhancing lives and reworking Africa.”
With this sturdy efficiency, Transcorp is poised to construct on its successes in 2024 and proceed its upward trajectory, reinforcing its position as a serious participant in Nigeria’s dynamic enterprise panorama.
