Transcorp Hotels Plc released its 2014 Full year results showing revenues remained relatively flat year on year to N15.1billion. However, operating expenses rose 14.3% to N7.4billion pushing pre-tax profits to N4.5billion (2013 FY: N5.7billion).
Profit after tax dropped 27% to N3.2billion compared to N4.4billion reported in 2013. Earnings per share for the period was 59kobo (2013 FY: 81kobo).
Transcorp had in its IPO prospectus forecasted a N16.8billion revenues for 2014 (actual N15.1billion). Profit after tax forecasted was N5billion (Actual N3.2billion). It is important to note that the Ebola Virus breakout in Nigeria, insecurity etc. could have had a negative impact on 2014 results.
Transcorp earlier proposed a dividend per share of 37kobo.