Transcorp Hotels To Pay N717m Dividends After N16.2bn Profit



Transcorp Hotels Plc yesterday said it would pay N717 million to shareholders as its audited financial statements for 2021 showed it recorded N16.23 billion gross profit which rose from N6.67bn in 2020.

Its revenue grew by 114 per cent to N21.74bn from N10.16bn in 2020, while the gross profit rose by 143%.

“We are very pleased with the incredibly strong operating performance of our businesses, as most segments improved in 2021,” said Mrs Dupe Olusola, Managing Director/Chief Executive Officer of Transcorp Hotels Plc.

The chairman of Transcorp Hotels Plc, Mr Emmanuel Nnorom, expected the hospitality industry to continue to recover in 2022. “As the domestic leisure, business and the bleisure segment — corporate travellers which also add leisure activities into their stay – continue to expand, even as international guests return, we expect the hospitality industry to continue its recovery,” Nnorom said.

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Meanwhile, the equities market closed negative on Wednesday with the market decreasing by 0.26% due to profit taking in some large cap stocks.

The NGX ASI (All Share Index) and the Market Capitalisation both decreased by 0.26% each to close at 47,360.79 points and N25.52 trillion, respectively. The year-to-date (YTD) return decreased to 10.87% from 11.16%.

TRANSCORP shares were the most actively traded with 29.20 million units; UCAP was next with 28.34m units and ACCESS had 17.65m units. SEPLAT led the value chart with N826m, AIRTELAFRI trailed with N491m and ZENITH BANK with N470m.

ROYALEX topped the gainers list at 10%; SEPLAT was 9.33% and MULTIVERSE gained 9.09%. However, NIGERINS led the losers’ chart depreciating by 10%; INTBREW trailed with 9.73% loss and RTBRISCOE with 9.09%.

Experts said given the lacklustre trading pattern observed yesterday, negative sentiments are expected to drive activities at today’s trading session, even as investors continue to take profit.

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