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Transcorp post 14% drop in group profits, propose dividends

Research Team by Research Team
April 7, 2015
in Uncategorized
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Transcorp Plc released its 2014 Full year results showing group profits rose 119% to N41.3billion. Profit after tax for the group however dropped 14% YoY to N7.7billion.The drop in profits is attributed to a N1.7billion loss in other income as well as N5.8billion interest expense (up 338% YoY).

The parent company even faired worse as profits attributable to it from the N7.7billion group profits was just N74million representing a 98% drop in profits YoY. Transcorp is proposing a dividend per share of 6kobo and will close its register April 21, 2015.

See summary

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Transcorp Plc   
Group 2014 FY 2013 FY %age Change
 N’mN’m 
Income Statement   
    
Revenue           41,338            18,826 119.58%
Cost of sales         (13,704)           (4,452)207.84%
Gross Profit           27,635            14,374 92.25%
Operating Expenses         (12,281)           (9,213)33.30%
Operating Profit           15,354              5,161 197.49%
Other Income           (1,728)             5,090 -133.95%
Net Finance            (5,894)           (1,218)383.77%
Profit Before Tax             7,732              9,033 -14.40%
Taxation           (4,427)           (2,074)113.45%
Profit after Tax             3,304              6,958 -52.51%
Profit to shareholders                   74              4,030 -98.16%
Tax as a %age of PBT57.3%23.0% 
Parent profit to total profits2.2%57.9% 
Balance Sheet 2014 FY 2013 FY %age Change
Overdraft & Short-term loans                   10,639                        3,657 190.94%
Long Term Loans                   37,139                    10,003 271.26%
Inventories                     1,682                        1,431 17.55%
Trade & Other Receivables                   27,938                        8,446 230.80%
Trade & Other Creditors                   13,769                        6,283 119.15%
Working Capital                     3,744                    11,515 -67.48%
Total Assets                 170,755                  149,464 14.25%
Net Asset of Parent                   56,506                    58,226 -2.95%
Net Assets                   89,755                    86,677 3.55%
Retained Earnings                   30,070                    31,678 -5.08%
Cash & Cash Equivalents                     2,931                        9,195 -68.13%
Cash flow from operations                     7,731                          445 1637.35%
Net Cash Spent on Investments                 (10,767)                     (1,456)639.46%
Indices   
Group EPS (Kobo)                         0.19                        12.17 -98.44%
Total Outstanding Shares             38,721.00              38,721.00 0.00%
Net Asset Per Share                         2.32                          2.24 3.55%
Debt to Equity 0.530.16237.76%
Gross Profit Margin66.8%76.4%-12.45%
Operating Profit Margin37.1%27.4%35.48%
Profit Margin8.0%37.0%-78.37%
SGA as a %age of Gross Profit44.4%64.1%-30.66%
Interest Cost as a percentage of Operating Profit38.4%23.6%62.62%
Asset Turnover %25.8%  
Return on Equity Parent0.1%  
Return on Equity Group3.7%  
Return on Asset9.6%  
ROA Factor0.70  
Net Asset Turnover                         0.47   

 

Tags: Nigerian Company ResultsTranscorp plc
Research Team

Research Team

The Research Team at Nairametrics meticulously monitors, gathers, curates, and administers an extensive repository of both macroeconomic and microeconomic data originating from Nigeria and across Africa. Utilizing a variety of presentation formats—including documents, tables, and charts—our analysts disseminate key findings through the Nairametrics platform. Additionally, we regularly release insightful, research-driven articles that offer in-depth analyses of economic trends and indicators.

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