Thursday, May 29, 2025
  • Share your story
  • About
  • Contact
Economy FootPrint
  • Home
  • News & Politics
  • Opinion
  • Finance & Economy
  • Aviation
  • Editorial
  • Transport & Blue Economy
  • Features | Analysis
  • Health | Environment
Economy FootPrint
Home Brands

Transcorp Group’s 2024 Revenue Grows107% to N408bn

EconomyFoot Print by EconomyFoot Print
March 11, 2025
in Brands, Industry | Trade | Commerce, Top News
Reading Time: 2 mins read
0
Share on FacebookShare on Twitter

*Profit before tax peaks at 132%

By Chris Agabi

Transnational Corporation Plc (Transcorp Group), Nigeria’s conglomerate has announced its financial results for the year ended December 31, 2024 with an impressive performance.

In its audited results, Transcorp reported significant year-on-year growth, with a revenue of N408 billion as at December 31, 2024, representing a 107% increase over the revenue of N197 billion in the previous year.

This is consistent with its results track record.

The Group sustained its strong growth trajectory across its financial indicators, reinforcing its market leadership and strategic positioning.

Highlights of Transcorp Group results shows:

Financial Year 2024 Revenue increased by 107%, rising to N408 billion from N197billion of 2023.

Profit before Tax grew by 132% to N136.7 billion, compared to N58.8 billion in the previous year.
 Profit after Tax improved 188% year-on-year to N94.1 billion in 2024, from N32.6 billion in the same period last year.

Operating Income grew by 83%, to N149.0 billion in 2024, up from N81.4 billion in the corresponding period in 2023.

Operating Expenses saw an increase of 105% year on year, to N62.8 billion in 2024, reflecting the impact of inflation and strategic investments in operational capacity.

Net Finance Cost decreased by 45% to N12.4 billion, owing to the complete repayment of foreign currency loans.

The Group’s Gearing Ratio reduced to 21% from 32% showing positive financial leverage.

Earnings per share of the Group were N1.45 compared to N0.40 in 2023.
 Total assets expanded by 42%, increasing from N529.9billion in December 2023 to N751.6 billion at the end of 2024.

Shareholders’ Funds grew by 45%, from N187.3 billion in December 2023 to N271.7 billion by year-end, supported by profit accretion to retained earnings.

Declared N10.1 billion full year dividend, representing N1.00 per ordinary share in 2024.
Speaking on the results, Dr. (Mrs) Owen D. Omogiafo, President/Group Chief Executive Officer of Transcorp, commented, “Our 2024 financial performance reflects the sustainable value creation strategy of Transcorp Group. We have been able to consistently record impressive growth across all indices year on year, despite the challenging macroeconomic environment. In the sectors we operate, we have delivered consistent growth by leveraging operational efficiency, strategic investments, and an uncompromising focus on value creation for our shareholders. Looking ahead, we will deepen our growth trajectory by seizing emerging opportunities, and strengthen our position across Nigeria’s power, hospitality, and energy sectors, even as we consider more sectors that take us closer to our purpose of improving lives and transforming Africa.”

Transcorp is dedicated to its transformation agenda, emphasizing sustained growth and a relentless pursuit of long-term value for shareholders.

Related posts

Nigeria’s Economy Requires More Than Short-term Interventions – Elumelu

Tony Elumelu Foundation lifted 2.1 million Africans out of poverty in 15 Years

May 27, 2025

UBA Launches *919# Advance Top-Up Feature to Provide Instant Access to Customers

May 26, 2025
Previous Post

Excitement as CBN Appoints 35% Women as Directors

Next Post

Transcorp Group’s 2024 Revenue Grows107% to N408bn

Next Post

Transcorp Group's 2024 Revenue Grows107% to N408bn

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Matawalle Commends Military For Taking Out Bandit Leaders

8 months ago

Troops Eliminate 481 Terrorists, Declares 9 others Wanted

7 months ago

WHY NIGERIA NEEDS INTEGRATED MULTIMODAL LOGISTICS SYSTEM: THE $70 BILLION DOLLARS (USD) TRADE TRANSPORTATION CORRIDOR INITIATIVE

9 months ago

Video Showing Soldier Molesting Civilian Fake – Gen.  Nwachuckwu

10 months ago

FOLLOW US

  • 86.2k Followers

BROWSE BY CATEGORIES

  • Aviation
  • Brands
  • Crime
  • Editorial
  • Features | Analysis
  • Finance | Insurance | Pension
  • Health | Environment
  • Industry | Trade | Commerce
  • International
  • Interview | Profile
  • News
  • Opinion
  • Politics
  • Small Business
  • Sports
  • Top News
  • Transport & Blue Economy
  • Uncategorized

BROWSE BY TOPICS

2023 Benue Budget Abuja-Kaduna Rail Access Corporation Access pension airports concession Aviation Ayu Benue Budget Benue Community Buhari Business CBN Central Bank Dana Air Economy FGPL Herdsmen Herdsmen attacks insecurity insurance Maritime Min of Transport MSMEs NAICOM NCAA Nigeria Nigeria -Cameroon Border Post Nigeria Air NRac Onne Port ooh Orrom Ortom PDP PenCom pension Railway Sambo Jaji Transcorp Transcorp Group Transcorp Hotels Plc UBA Ukohol Wike Wildon Ideva

BROWSE BY CATEGORIES

  • Aviation
  • Brands
  • Crime
  • Editorial
  • Features | Analysis
  • Finance | Insurance | Pension
  • Health | Environment
  • Industry | Trade | Commerce
  • International
  • Interview | Profile
  • News
  • Opinion
  • Politics
  • Small Business
  • Sports
  • Top News
  • Transport & Blue Economy
  • Uncategorized

Economy Footprint

The EconomyFootprint is published by Ideas Tent Communications Ltd®. All Rights Reserved.

Follow us on social media:

Recent News

  • STAFF OF BIPC BREAD, WATER CELEBRATE ONE-YEAR ANNIVERSARY WITH GMD ASEMAKAHA
  • TIMBUKTOO MEDIA SERVICES LAUDS BIPC’S INDUSTRIAL REVOLUTION, JOB CREATION
  • BIPC Sells 10 million Loaves of Bread, 20 million Water Sachets In One Year – GMD

Category

  • Aviation
  • Brands
  • Crime
  • Editorial
  • Features | Analysis
  • Finance | Insurance | Pension
  • Health | Environment
  • Industry | Trade | Commerce
  • International
  • Interview | Profile
  • News
  • Opinion
  • Politics
  • Small Business
  • Sports
  • Top News
  • Transport & Blue Economy
  • Uncategorized

Recent News

STAFF OF BIPC BREAD, WATER CELEBRATE ONE-YEAR ANNIVERSARY WITH GMD ASEMAKAHA

STAFF OF BIPC BREAD, WATER CELEBRATE ONE-YEAR ANNIVERSARY WITH GMD ASEMAKAHA

May 29, 2025
TIMBUKTOO MEDIA SERVICES LAUDS BIPC’S INDUSTRIAL REVOLUTION, JOB CREATION

TIMBUKTOO MEDIA SERVICES LAUDS BIPC’S INDUSTRIAL REVOLUTION, JOB CREATION

May 29, 2025
No Result
View All Result
  • Home
  • Politics
  • News
  • Sports
  • Opinion