Transcorp PLC has emerged the Winner of the 2018 Sectoral Leadership Awards – Conglomerates organized by the PEARL Awards.
Transcorp PLC was conferred this honour at the gala night hosted at the Eko Hotel & Suites in Lagos on the 25th of November 2018.
Transcorp Plc was rated above other players in the Industry to pick the PEARL sectoral leadership award as a result of the conglomerate’s outstanding operational and stock market performance in the 2017 year. The conglomerate emerged winner after review by industry experts and peers.
It has indeed been a winning year for Transcorp Plc. First their 2017 financial year end Gross earnings grew to N80.3bn from N59.4bn in 2016.
Next, the Power Subsidiary undertook proactive measures to leverage improved gas availability to re-strategize for greater service delivery. From new maintenance programmes for power assets, to tactical engagement of stakeholders, Transcorp’s strategy is yielding dividends in the power sector. The company fast-tracked the delivery of Gas Turbines 15 and 20, increased generation capacity to 701MW at year-end 2017 compared to 505MW in 2016.
Not done yet, the brand’s decision to pivot and reinvent its product offerings, despite the closure of Abuja airport for repairs, ensured its hotel arm finished the year under view with a 63% occupancy rate. This resulted in an end of the year Gross profit of N36.4bn for the Group, up 21% from N30.2bn posted in 2016.
In a similar vein, Transcorp Hotels Plc emerged winners of the 2018 PEARL Awards Sectoral Leadership Awards (Services – Hotels & Lodging)
For Pearl awards, planners of the awards, these results among others is a testament to the conglomerate’s strategy that makes it a market leader and deserving of one of the most coveted awards in the industry.
The PEARL Awards Nigeria, is endorsed by the Securities and Exchange Commission is one of Nigeria, and is a foremost award recognition body. The focus of the awards is to reward corporate excellence in local institutions and promote healthy business competition among quoted companies through growth, diversification and innovation; ultimately leading to improved performance on the Nigerian Stock Exchange.
About Transcorp Plc
Transnational Corporation of Nigeria Plc (Transcorp) is a publicly quoted conglomerate with a diversified shareholder base of over 300,000 investors. Our portfolio comprises strategic investments in the power, hospitality, agribusiness and oil and gas sectors. Our businesses include Transcorp Hilton Hotel, Abuja; Transcorp Hotels Calabar; Transcorp Power Limited and Transcorp Energy Limited.