Transcorp Hotels Plc has become Nigeria's first hospitality group to exceed N1 trillion in market capitalization. This milestone was achieved on January 10, 2023, with a 7.24% surge at the NGX, closing at N100 per share.
Transcorp Hotels demonstrated exceptional performance on the NGX, concluding 2023 as the top-performing stock with an impressive 1022.9% yearly gain. The company's market cap soared from N64 billion at the start of 2023 to a staggering N718.8 billion by year-end. In 2024, the growth continued with a 42.5% year-to-date increase, adding N305.43 billion to its market cap.
Joining the exclusive SWOOT group on January 12, 2023, Transcorp Hotels now stands alongside eleven NGX-listed companies with a market cap exceeding N1 trillion, including Airtel Africa, Dangote Cement, MTN Nigeria, and Zenith Bank.
In the first nine months of 2023, Transcorp Hotels reported robust financial performance, with a 32% YoY increase in revenue to N29.85 billion. The net income for the same period soared by 79% to N4.07 billion.
Transcorp Hotels, a subsidiary of Transnational Corporation Plc, holds a commanding 76.15% stake, with the Federal Government owning 11.04%. Led by Dupe Olusola, the company oversees Transcorp Hilton Abuja, Transcorp Hotels Calabar, and the online platform, Aura by Transcorp.
This accomplishment solidifies Transcorp Hotels' leadership in the hospitality sector, showcasing its resilience and potential in Nigeria's dynamic business landscape
Source: Nairametrics
Transcorp Hotels demonstrated exceptional performance on the NGX, concluding 2023 as the top-performing stock with an impressive 1022.9% yearly gain. The company's market cap soared from N64 billion at the start of 2023 to a staggering N718.8 billion by year-end. In 2024, the growth continued with a 42.5% year-to-date increase, adding N305.43 billion to its market cap.
Joining the exclusive SWOOT group on January 12, 2023, Transcorp Hotels now stands alongside eleven NGX-listed companies with a market cap exceeding N1 trillion, including Airtel Africa, Dangote Cement, MTN Nigeria, and Zenith Bank.
In the first nine months of 2023, Transcorp Hotels reported robust financial performance, with a 32% YoY increase in revenue to N29.85 billion. The net income for the same period soared by 79% to N4.07 billion.
Transcorp Hotels, a subsidiary of Transnational Corporation Plc, holds a commanding 76.15% stake, with the Federal Government owning 11.04%. Led by Dupe Olusola, the company oversees Transcorp Hilton Abuja, Transcorp Hotels Calabar, and the online platform, Aura by Transcorp.
This accomplishment solidifies Transcorp Hotels' leadership in the hospitality sector, showcasing its resilience and potential in Nigeria's dynamic business landscape
Source: Nairametrics
