Transcorp recently released its 2013 results showing Revenue: Third Quarter September 2013 Group N11781m Company N1694m Full Year 2012 Group N13245m Company N2326m. Profit After Tax: Third Quarter September 2013 Group N3581m Company N1671m Full Year 2012 Group N2528m Company N2539m. The President of the Conglomerate, Mr. Obinna Ufudo was interviewed at ABN Digital today where he defended their results and the successes of their 5 year Turn Around Plan for the company which is in its second year.
During the interview Mr Ufudo was asked a range of questions regarding their results and the outlook for the company. Here are the key responses
- “Our revenue for last year was N13billion, In terms of revenue “we expect that next year with the addition of the power plant we will do much more than twice that number in terms of revenues”.
- As per profits “Profits will double in the very least”
- We will always double revenues and profits and will do this by adding new assets to out portfolio
- They plan to invest in new hospitality business and open new hotels in Ikoyi, Lagos and the country in general
- New Investments in Food Processing
- Juice concentrate plants in Kogi State has obtained Iso 9000 and and they can now produce
- Fix turbines within three years to increase generation from 300 to 1000 and increase to 1,700
Thats a lot of promises and one hopes these are achievable
See video here for full interview