The Tourist Company of Nigeria Plc, in its 2018 Full year financial results submitted and released to the public by the regulatory body (Nigeria Stock Exchange) on the 23rd, 2019 showed that the Hotels, Catering and Tourism Company’s PAT improved by 57.14% from N3.218 billion deficit of FY’17 to the current period deficit of N1.379 billion in 2018.
The company’s financial results also disclosed a 26.50% decline in topline figures of N4.9 billion recorded in the same period the previous year to N3.6 billion in the current period under review.
The earnings per share appreciated by over 57% from N1.43 recorded in 2017 to N0.61 of the current period, both in deficit.
The current period’s PE Ratio as computed stands at -5.70x and the earnings yield at -17.54%.
The Tourist Company of Nigeria Plc is engaged in the operation of gaming and hospitality businesses in Victoria Island, Lagos. The Company operates through two segments: Gaming and Hospitality. The Gaming segment includes the provision of tables and slots gaming facilities. The Hospitality segment is engaged in the sale of hotel room accommodation, sale of food and beverages in the Company’s restaurants and bars, as well as venue hire, pool club subscriptions and entrance fees, parking and laundry charges, and other miscellaneous. The Company is a subsidiary of Sun International Limited.