Nigeria’s leading and largest listed diversified conglomerate, Transnational Corporation of Nigeria Plc (Transcorp) has released its unaudited results for the third quarter ended September 30, 2021, indicating sustained growth in 2021 as seen in the first two quarters of year.
Mrs. Owen Omogiafo, President/Group CEO of Transcorp, commenting on the performance said “the results reflect the continued commitment by the group to improve performance across all the sectors in which we operate. Our power business increased by 49% year on year, while our hospitality business increased by 115%.”
Omogiafo indicated that the company intends to complete the year with another quarter of excellent year-over-year growth, thanks to its scalability and sustainability strategy.
Omogiafo said, “Our outlook for the rest of the year remains positive despite some macro-economic issues. We are particularly excited by the performance of our Hospitality business and its recovery following the impact of the Covid pandemic. We have remained on track regarding our capacity recovery plan in our Power business and despite the systemic challenges in the Power sector, Transcorp remains a strong contributor to the power generated in the country. We will continue to drive operational efficiency and focused on delivering value to all stakeholders as we work towards building a long-lasting institution that would deliver on our purpose of Improving Lives and Transforming Nigeria.”
Transnational Corporation of Nigeria Plc (Transcorp) is a publicly quoted conglomerate, with a diversified shareholder base of over 300,000. Our portfolio comprises strategic investments in the power, hospitality, and oil and gas sectors. Our businesses include Transcorp Hilton Abuja, Transcorp Hotels Calabar, Transcorp Power, Trans Afam Limited and Transcorp Energy.
