Transnational Corporation of Nigeria (Transcorp) has recorded revenue of N13.979 billion for the financial year ended December 31, 2015. The result showed a decline of N1.125 billion or 7.4 per cent compared with N15.104 billion recorded in the preceding year.
The company’s result submitted at Nigerian Stock Exchange showed that gross profit fell from N11.599 billion to N10.617 billion. The profit before tax which stood at N4.540 billion in the preceding year went to N5.377 billion at the end of December 2015 while the operating profit rose from N4.263 billion achieved in the comparable period of 2014 to N4.783 billion. The company said that the profit for the year rose from N3.220 billion reported in the preceding year to N3.497 billion. An analysis of the
company result indicated that total non current assets advanced from N53.727 billion in the corresponding period to N65.366 billion while total current assets surged to N25.974 billion against N15.897 billion made in the preceding year. The total assets also moved up to N91.341 billion from N69.623 billion in the previous year. Total non current liabilities which stood at N7.503 billion in December 2014 went to N26.206 billion at the end of December 2015 while total liabilities grew from N17.871 billion in the previous year to N39.195 billion.
Meanwhile, Transcorp had in its 2015 third-quarter (Q3) financial results posted a profiit before tax of N7.2 billion . Gross earnings of the company increased by N1.15 billion, a 102 per cent year-on-year growth, compared to the N1.12 billion it recorded in 2014. The total asset of the group was N182.98 billion, a seven per cent increase from N170.76 billion in corresponding year, while the company s total assets remained steady at N54.06 billion.
