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
| Transcorp Plc | |||
| Group | 2014 FY | 2013 FY | %age Change |
| N’m | N’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 PBT | 57.3% | 23.0% | |
| Parent profit to total profits | 2.2% | 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 | 0.53 | 0.16 | 237.76% |
| Gross Profit Margin | 66.8% | 76.4% | -12.45% |
| Operating Profit Margin | 37.1% | 27.4% | 35.48% |
| Profit Margin | 8.0% | 37.0% | -78.37% |
| SGA as a %age of Gross Profit | 44.4% | 64.1% | -30.66% |
| Interest Cost as a percentage of Operating Profit | 38.4% | 23.6% | 62.62% |
| Asset Turnover % | 25.8% | ||
| Return on Equity Parent | 0.1% | ||
| Return on Equity Group | 3.7% | ||
| Return on Asset | 9.6% | ||
| ROA Factor | 0.70 | ||
| Net Asset Turnover | 0.47 |