Transnational Corporation of Nigeria Plc grew its profit after tax by a record 672.1 per cent year-on-year in the third quarter of the year on the back of what the company described as an aggressive growth plan and efficient cost optimisation strategy.
Its net operating income also rose from N15.54 billion to N27.53 billion, translating to 77 per cent improvement. Transcorp, like many other companies, was in red the same quarter last year owing to the COVID-19 impact. But the impressive performance last quarter suggests that the company has put the ruin of COVID-19 behind with the executive, saying the years ahead hold great prospects for its operations.
Omogiafo said the group was bullish across all areas of operation – power, energy and hospitality. She added that it would continue to improve its cost optimisation strategy, take advantage of growth opportunities and expand market.
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