Transcorp Hotels grows turnover to N8.01 billion in H1
Transcorp Hotels Plc has posted a turnover of N8.01 billion for the first half of 2018 ended June 30.
The company’s report also showed significant growth in the period, recording a profit before tax of N2.02billion and earning per share of 17.84 Kobo .
Transcorp Hotels delivered a 29 per cent year-on-year growth in revenue at the close of the first half of 2018, moving from N6.20billion in half year 2017 to N8.01billion in half year 2018.
Gross profit for the period grew by 31 per cent to N5.89billion from N4.50billion of half year 2017; Profit before tax for HY 2018 was N2.02billion against N1.10 billion in HY 2017, representing 85 per cent year-on-year growth.
The firm ended with a profit after tax of N1.38billion, representing 83 per cent year-on-year growth over N760million in HY 2017.
Commenting on the financial results, Chief Executive Officer, Transcorp Hotels Plc., Valentine Ozigbo, said: “We are thrilled with the half year results of the hotel, which was primarily driven by the increase in occupancy, room inventory and aggressive marketing strategies.
With the help of a strong and dedicated workforce, he said the hospitality firm will continue to deliver significant value to our shareholders and unrivalled service excellence to our customers.
He said for the company to achieve its long-term strategy of being Africa’s leading hospitality company, the organisation is investing resources into diversifying its overall guest experience using technology.
According to him: “We recently launched the Transcorp Hilton mobile application, which allows guests request for dining services, housekeeping services, valet services and maintenance requests with the click of a button.
Guests can read up about local attractions in Abuja, explore on-site and off-site recreational services and navigate key locations around the city through the inbuilt map.
He added that Transcorp Hotels Calabar is also undergoing an extensive upgrade of its existing technology and internet services, to ensure guest’s experiences are better personalised and customer service is seamless across digital platforms.
“This is the only way we can remain competitive in the ever-changing business landscape”, Ozigbo said.