The 176 per cent growth in profit recorded by Transnational Corporation of Nigeria (Transcorp) for the half year ended June 30, 2014 has given investors reasons to expect another profitable year, writes Goddy Egene
Stakeholders in the capital have been looking up to the half year corporate results of companies with high hopes. Based on the high hopes, the share prices of some of the equities attracted high demand from investors. While some investors had hoped that traditional interim dividend paying companies would compensate them, others believed that with improved half year results, their hopes for higher dividend at the end of the year would been rekindled.
Besides, with higher financial results, investors would be able to position themselves and take position in the various companies. Although companies began reporting their half year results last week, some of the results are weaker than expected. However, few companies met the expectations of the investors with performances higher than the previous year’s. Transnational Corporation of Nigeria (Transcorp) is among those companies that have recorded significant growth in their half year results. Transcorp ended the period with growths in all performance indicators.
Corporate history
Transcorp,which is listed in the conglomerate sub-sector of the Nigerian Stock Exchange (NSE) was incorporated on 16 November 2004 with the objective of creating a truly Nigerian conglomerate with the ability to compete successfully on a global scale.
One of the major goals the minds of its founders was setting up a company capable of mobilising local and international capital in the development of world-class enterprises, under strong Nigerian management and leadership.
Today, Transcorp is a publicly quoted conglomerate with a diversified shareholders base of about 290,000 investors, the most prominent is Heirs Holdings Limited, a pan-African proprietary investment company. The Transcorp portfolio comprises strategic investments in the hospitality, agriculture and energy sectors.
Transcorp,which is listed in the conglomerate sub-sector of the Nigerian Stock Exchange (NSE) was incorporated on 16 November 2004 with the objective of creating a truly Nigerian conglomerate with the ability to compete successfully on a global scale.
One of the major goals the minds of its founders was setting up a company capable of mobilising local and international capital in the development of world-class enterprises, under strong Nigerian management and leadership.
Today, Transcorp is a publicly quoted conglomerate with a diversified shareholders base of about 290,000 investors, the most prominent is Heirs Holdings Limited, a pan-African proprietary investment company. The Transcorp portfolio comprises strategic investments in the hospitality, agriculture and energy sectors.
