Transcorp Hotels PLC has announced its audited financial results for the 2024 fiscal year, reporting an impressive 69% revenue growth to N70.13 billion, up from N41.46 billion in FY 2023.
Key Point: Transcorp Hotels PLC's revenue growth was driven by its commitment to delivering outstanding hospitality experiences, expanding its offerings, and implementing a strategy that unlocks the full potential of its business.
The company's financial performance was marked by significant growth in key areas, including:
- Profit before tax: Up 138% to N22.61 billion
- Profit after tax: Up 144% to N22.61 billion
- Return on assets: Up from 4.83% in FY 2023 to 10.59% in FY 2024
- Return on equity: Up from 9.12% in FY 2023 to 18.50% in FY 2024
The company has also proposed a final dividend of 64 kobo per share, bringing the full dividend to 74 kobo per share, demonstrating its commitment to enhancing shareholder value. Additionally, Transcorp Hotels PLC has completed its new 5,000-capacity event centre, which is expected to be a game-changer in the hospitality and event hosting landscape.
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