Transnational Corporation Plc (Transcorp) has posted an impressive 132% growth in profit before tax (PBT), surging to N136.7 billion for the year ending December 2024, up from N58.8 billion in the previous year.
The company’s audited financial results revealed a 107% rise in revenue, reaching N408 billion compared to N197 billion in 2023. Similarly, profit after tax skyrocketed by 188% to N94.1 billion, while operating income grew 83% to N149 billion from N81.4 billion in the previous year.
Transcorp’s total assets expanded by 42%, climbing from N529.9 billion in 2023 to N751.6 billion at the end of 2024. Shareholders’ funds also increased 45%, rising from N187.3 billion to N271.7 billion, driven by strong profit retention. The company declared a N10.1 billion full-year dividend, translating to N1.00 per share.
Speaking on the remarkable performance, Dr. (Mrs.) Owen D. Omogiafo, President/Group CEO of Transcorp, attributed the success to the company’s strategic investments, operational efficiency, and unwavering commitment to value creation despite economic challenges.
“As we look ahead, we are committed to deepening our growth trajectory by seizing emerging opportunities in Nigeria’s power, hospitality, and energy sectors while exploring new avenues that align with our mission of improving lives and transforming Africa,” Omogiafo stated.
Transcorp’s strong financial performance solidifies its position as a leading player in Nigeria’s business landscape, with a clear focus on sustainable expansion and shareholder value.
