Transnational Corporation of Nigeria Plc (Transcorp) on the 16th of July, 2018 posted N54.09 turnover for the half year ended June 30, 2018. This is about 58% improvement on its previous reported N34.2billion turnover of 2017 when compared.
The Nigeria’s foremost conglomerate also declared a mouthwatering and alluring 161% bottom-line growth after its profit after tax grew year on year from N4.2billion to about N10.9billion in the corresponding review period.
Consequently, the company’s earnings per share climbed 160% from about 10kobo in 2017 to about 26kobo in the current period under review, with a large outstanding number of shares running to over 40billion. Though, the company reported 11.6kobo in its book which only captured the profit attributed to the owners of the parent company with about 43.4% controlling interest.
As at the point of computation the price earnings ratio stood at 4.54x with N1.17 as the reference price.
The company also have an impressive earnings yield of 22%.
An in-depth look at the results posits that the stellar half year feat recorded by the organization can be attributed to the aggressive revenue drive, as both cost of sales and finance cost grew higher than the corresponding figures recorded same period 2017.
