Nigeria’s fourth-best-performing stock last year, Transnational Corporation of Nigeria (Transcorp), reported a two-fold jump in bottom line to N34.1 billion for the 2023 financial, according to its earnings report issued Wednesday.
Energy, which contributed 78 per cent of gross revenue, is the heart of the conglomerate, whose other divisions comprise agro-allied business and hospitality.
Turnover at that flagship subsidiary rose to N151.3 billion from N103.3 billion a year earlier, in turn driving gross revenue, which leapt 44 per cent to N194 billion.
