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Home Business News

Transcorp Plc exits Juice Business, Terragro

Onome Ohwovoriole by Onome Ohwovoriole
July 31, 2018
in Business News, Company News
Transcorp
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Transcorp Plc has exited its juice business Terragro. Terragro was the operator of a 26,500 metric tonne capacity benfruit plant located in Benue State.

Managment disclosed this during the company’s investor conference held today. The firm adduced the decision to imported concentrate being cheaper than local concentrate. Terragro produced pineapple, mango and orange concentrate.

Transcorp Plc is currently trading at N1.27 in today’s trading session.

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Results for the half year ended June 2018 show revenue increased from N34.1 billion in 2017 to N54 billion in 2018. Profit before tax jumped from N4.5 billion in 2017 to N11.9 billion in 2018. Profit after tax also surged from N4.1 billion in 2017 to N10.8 billion in 2018.

The company in a notice sent to the NSE yesterday, disclosed that the divestment process was still ongoing and had not been concluded.


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Tags: On the MoneyTerra AgroTranscorp plc
Onome Ohwovoriole

Onome Ohwovoriole

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via onome.ohwovoriole@nairametrics.com

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