Connect with us


Top Stories

Transcorp Hotels crosses N1 trillion Market Cap, first Nigerian hospitality company to do so

Published

on

Transcorp Hotels Plc, the hospitality subsidiary of Transnational Corporation Plc is Nigeria’s first hospitality group to cross the N1 trillion market capitalization level, thus admitting the company into the SWOOTs (Stocks Worth Over One Trillion) group.

On Wednesday, January 10, 2023, Transcorp Hotels Plc (TRANSCOHOT) gained 7.24% at the NGX to close at a share price of N100, thus taking the group to a market capitalization of N1.024 trillion.

Advertisement

Market Performance

Over the past year, Transcorp Hotels has enjoyed a remarkable performance in the Nigerian Exchange (NGX). The company ended 2023 as the bestperforming stock in the NGX as it recorded a yearly gain of 1022.9% during the year.

READ ALSO:   Toto Wolff and Lewis Hamilton to get what they want as FIA president breaks silence

The company closed 2023 with a market cap of N718.8 billion, a whopping N654.8 billion increase from the N64 billion recorded at the start of 2023.

Advertisement

In 2024, Transcorp Hotels maintained impressive market growth, boasting a 42.5% increase year-to-date. This year alone, Transcorp Hotel’s market capitalization has surged by N305.43 billion.

During the week ending January 12, 2023, Transcorp Hotels Plc joined banking groups, FBN Holdings and United Bank for Africa in the SWOOT group. Hence, there are eleven companies in the NGX with a market cap of over N1 trillion.

Advertisement

The list of companies in the SWOOT group are:

READ ALSO:   Breaking: Fani-Kayode Dumps PDP, Returns To APC

Airtel Africa – N7.52 trillion

Advertisement
  • Dangote Cement – N5.96 trillion
  • MTN Nigeria – N5.94 trillion
  • BUA Foods – N4.095 trillion
  • BUA Cement – N3.45 trillion
  • GTCO Holdings – N1.36 trillion
  • Seplat Energy –N1.36 trillion
  • Zenith Bank – N1.35 trillion
  • United Bank for Africa – N1.06 trillion
  • Transcorp Hotels – N1.02 trillion
  • FBN Holdings – N1.005 trillion

Financial Performance in 9M 2023

In 9M 2023, Transcorp Hotels recorded a revenue of N29.85 billion, representing a 32% increase year-on-year from the same period in 2022. In the same 9M 2023, The company recorded a net income of N4.07 billion, representing a 79% increase year-on-year from the corresponding period in 2022.

READ ALSO:   VP Osinbajo Launches $750m COVID-19 Recovery Initiative

What you should know

Transcorp Hotels is a subsidiary of Transnational Corporation Plc, with the latter owning a significant 76.15% stake in the hotel. The Federal Government of Nigeria also owns an 11.04% stake in the hotel.

The company which is headed by Dupe Olusola owns Transcorp Hilton Abuja and Transcorp Hotels, Calabar, as well as the online platform, Aura by Transcorp.

Advertisement
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Also Read...