Transnational Corporation of Nigeria (Transcorp) recorded a share price decline of 19.20 per cent making it the leader on the Share Price Decliners’ chart for the week ended October 31,2014.
According to the weekly report of the Nigerian Stock Exchange (NSE) for the period mentioned earlier, Transcorp suffered 96 kobo or 19.20 per cent loss from its N5 opening price to settle at N4.04.
The share price of N4.04 in the period under review is barely N2.25 or 55.70 per cent away from the N1.79 lowest traded price within 52 weeks streak (Year to date).
Also, the group’s highest traded price year to date at N7.08, shows that the current share price is N3.04 or 75.25 per cent away from the highest traded price within the review period.
However, the company’s third quarter result for the period ended September 30, 2014 reveals that the company’s profit for the period climbed N4.68 billion or 103.73 per cent to N8.26 billion from the corresponding year’s N3.58 billion.
Other key extracts from the result indicated that profit before tax (PBT) rose by N4.56 billion or 88.54 per cent to N9.71 billion from the prior year’s N5.15 billion.
Revenue jumped from N11.78 billion to N31.40 billion; representing an increase of N19.62 billion or 166.55 per cent.
Total Equity stood at N92.87 billion from the prior year’s N86.68 billion even as Operating Profit leaped to N12.36 billion from N5.81 billion.
Gross profit climbed to N21.12 billion in the period under review from the corresponding year’s N5.81 billion.
The earnings per share settled at nine kobo; just as its price to earnings (P.E) ratio closed at N46.04.
Transcorp has a market capitalisation of N156.43 billion and is on the diversified industries sub-sector in the conglomerates sector on the main board of NSE.
Source : Tribune