Transcorp Hotels Plc, a subsidiary of Transcorp Group, saw its share price surge by 7.13% to close at N145 per share on the Nigerian Exchange (NGX) on Thursday, April 3, 2025.
The impressive gain followed the company’s Annual General Meeting (AGM), during which shareholders overwhelmingly approved a substantial dividend payout for the 2024 fiscal year.
The approved dividend included a final payment of 64 kobo per share, in addition to an interim dividend of 10 kobo per share earlier in the year, signaling the company’s strong financial health and unwavering commitment to rewarding its investors.
At the AGM, shareholders were presented with the company’s audited financial statements for 2024, which showed a revenue increase of 69%, rising to N70.13 billion from N41.46 billion in 2023. Profit Before Tax (PBT) leaped by 138%, hitting N22.61 billion, a reflection of Transcorp Hotels’ strong business fundamentals and strategic execution.
With its stock price climbing 65% in 2024 alone, closing the year at N116 per share, Transcorp Hotels Plc is now considered one of the most attractive stocks on the Nigerian Exchange. The additional jump to N145 further solidifies investor confidence.
Chairman of the Board, Emmanuel Nnorom, attributed the remarkable performance to strategic pricing, effective cost management, and a relentless focus on improving guest experiences.
“Our performance in 2024 has been nothing short of stellar,” Nnorom stated. “The company’s ability to adapt and capitalize on market opportunities, even amidst persistent inflation and volatile exchange rates, speaks volumes about the strength of our operational strategies.”
Managing Director/CEO, Uzoamaka Oshogwe, credited the revenue growth to a sustained rise in international and corporate travel, a vibrant Meetings, Incentives, Conferences, and Exhibitions (MICE) segment, and a thriving leisure market.
“This significant growth is particularly commendable given the persistent macroeconomic headwinds,” Oshogwe noted. “Our ability to navigate these challenges and achieve such robust results underscores the effectiveness of our business model and strategic approach.”
