Transcorp Plc reported revenue of N54.38 billion in 2020 9M, compared to N58.28 billion in the corresponding period of 2019.
Key highlights for 2020 9M
- Revenue decreased to N54.38 billion, -6.69% YoY
- Revenue from rooms decreased to N4.32 billion, -53.08% YoY
- Revenue from food and beverage decreased to N1.64 billion, -60.77% YoY
- Revenue from shop rental decreased to N511.13 million, -14.14.9% YoY.
- Revenue from service charge decreased to N54.75 million, -52.63% YoY.
- Revenue from other operating revenue decreased to N265.42 million, -53.96%
- Revenue from capacity charge increased to N17.72 billion +8.65% YoY
- Revenue from energy sent out increased to N29.84 billion, +82.93% YoY.
- Revenue from ancillary services decreased to N23.4 million, -60.41% YoY.
- Foreign exchange loss on financing activities increased to 1.84 billion, +316.12% YoY.
- Finance cost increased to N11.68 billion, +14.86% YoY.
- Pre-tax profits decreased to N2.02 billion, -72.55% YoY.
- Earnings Per Share decreased to 3.4 kobo, -154.84% YoY.
Bottom Line
Transcorp Plc recorded decreased revenues from six of its revenue-generating units. Companies, especially hoteliers have generally recorded decreased revenue in the last three quarters, mostly due to COVID-19.
Pre-tax profits also declined in the period under consideration due to increased foreign exchange loss on financing activities and finance costs.
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