Utweets
Transcorp Power Plc has disclosed a 115 per cent rise in revenue to N305.9 billion in 2024 financial year from N142.1 billion recorded in 2023. Transcorp’s most recent audited results, shared to the Nigerian Exchange (NGX), also indicated that profit after tax increased by 165 per cent to N80 billion from N30.2 billion....READ THE FULL CONTENT FROM THE SOURCE | READ THE FULL CONTENT FROM THE SOURCE
Transcorp also revealed that gross profit also increased by 89 per cent to N142.2 billion from N75.4 billion in 2023.POLITICIANS ARE NOW GETTING INTO TROUBLE GRADUALLY! $3X TAP3 V!DEO OF ANOTHER PROMINENT POLITICIAN LE4KED ON SOCIAL MEDIA | WATCH NOW BEFORE IT’S DELETED.
The company said: “The financial results showed that following the complete repayment of its USD loan, the Company’s gearing ratio reduced significantly from 64.48% at the end of 2023 to 29.70% in 2024, indicating improved financial stability.”
Reacting to the results, Emmanuel Nnorom, Chairman, Transcorp Power, stressed that the company’s focus on stakeholder value.
He said: “Transcorp Power has become one of Nigeria’s most formidable power operators, committed to bridging the energy gap in the country and contributing to the nation’s economic growth.
“This financial performance reflects our unwavering commitment to our shareholders and stakeholders. We remain steadfast in our pursuit of value creation and assure our investors of continued robust returns.
“I am proud of how our organisation faced and responded to a particularly challenging market and macroeconomic environment and our future is bright.”
Speaking on the performance, Chief Executive Officer, Transcorp Power, Peter Ikenga, added: “Transcorp Power is dedicated to financial discipline and delivering unparalleled value to our stakeholders.POLITICIANS ARE NOW GETTING INTO TROUBLE GRADUALLY! $3X TAP3 V!DEO OF ANOTHER PROMINENT POLITICIAN LE4KED ON SOCIAL MEDIA | WATCH NOW BEFORE IT’S DELETED.
“Since our public listing, we have maintained consistent growth across all financial metrics, aligning with our mission to deliver value. “We are confident in our ability to sustain this trajectory of success.”…READ THE FULL CONTENT FROM THE SOURCE
