[upme_private]Transcorp Plc Released its first quarter 2013 results posting a revenue of N475million. The results did not include a corresponding 2012 Q1 results making comparison impossible. However, the results showed Pre-tax profits of N400million. Earnings per share was N0.44 (4.39kobo per share) and diluted eps was N0.14 (1.39kobo per share).
I also observed the company has finally set off its share premium against its negative reserves which has now moved from a negative N22.2billion as at December 2012 to a positive N3.8billion. With a positive revenue reserve Transcorp is now able to pay dividends which it hitherto could not. Debt to equity ratio for Transcorp still remained stubbornly high at 80% as the company continues to finance new investments. In addition the the N7.3billion it spent in 2012 on purchasing new investments it spent an additional N3.8billion in 2013. Transcorp just concluded a Rights Issue where it plans to raise N13billion in equity which it could use to repay the debts immediately.
Transcorp as a group posted revenues of N3.5billion for the quarter and pre-tax profits of N833.7million. Apart from its Hotel division, the others are still yet to contribute significantly to bottom line. Earnings per share for the group this quarter was N0.14 (1.36kobo per share).
Transcorp Plc 2013 Q1 results can be found on the website of the NSE[/upme_private]