Transcorp Plc posted a revenue of N1.13b down 39.5% from the N1.87b posted in the same period last year. This followed the 36% drop posted at the end of the first half of the year compared to last year as well. The result also fails to beat the company’s forecast of N2.6b in income for the period. Operating profit dropped 32% to N753m for the period. However, the company has continued to reign in on cost churning an operating profit margin of 66% compared to 58% posted same period last year. Being a Holding company, much of Transcorp’s revenue come from dividend and investment income in companies and securities respectively. The company continued to rely on net interest income to boost pre-tax earnings posting N1.6b at the end of the period.
Transcorp Plc Q3 2012 Unaudited Accounts is posted on the website of the NSE