Highlights of the half year 2014 results show that gross revenue stood at N21.21 billion from N7.67 billion recorded inn the same period of 2013; .which represents 177 percent growth; group operating profit for was N9.75 billion, an increase of 145 percent from corresponding period in 2013.
Group profit before tax grew by 122 percent from N3.61 billion to N8.02 billion; total assets for the group grew by 6 percent from N149.64 billion for full year 2013 to N158.18 billion for six months ended
Commenting on the results, the President and Chief Executive Officer, Transcorp, Mr. Obinna Ufudo, said: "Our half year results for 2014 consolidates the significant growth achieved in first quarter 2014 and firmly sets us on course for the attainment of FY 2014 financial targets. We are very pleased with the continued growth in capacity and output at our
"The plant's available capacity and output peaked at 453 MW during the period, up from the 160MW when we took over on
He added, "Overall, we remain focused on achieving our medium term objectives to develop new hotels, expand our available power generation capacity, diversify and increase scale of our agribusiness and exploit opportunities within the oil and gas industry. We expect steeper growth rate for the rest of the year as our turnaround strategies take firmer root".
Meanwhile; Profit takers, who returned to the floor of the Nigerian bourse on Thursday last week, continue their hold on trading activities when both indicators closed in the red. Equities capitalisation closed lower at N14.127 trillion after it depreciated by N35.503 billion as against N14.162 trillion it recorded on Friday; while the All-Share Index dropped 107.52 basis points or 0.25 percent to close at 42,784.30 points as against 42,891.82 points recorded at the weekend.
However, stockbrokers crossed a total of 535.076 million shares which valued at N4.374 billion in 5,862 transactions with the financial services sector accounting for a total of 350.068 million shares; valued at N1.407 billion in 2,735 deals.
Petroleum marketer, Mobil Nigeria, led the gainers' table with a gain of N15.83; followed by
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