Transcorp Hotels Plc has announced a profit before tax of ₦2.02 billion for the first half of the year, compared to ₦1.1 billion in the same period of 2017.
The firm’s unaudited financial statements for the period ended June 30, 2018 showed a turnover of N8.01bn and earning per share of 17.84 kobo.
Transcorp Hotels’ revenue grew to ₦8.01 billion in the first half of 2018 from ₦6.20 billion in the same period of 2017.
The firm said in a statement on Sunday that gross profit for the period grew by 31 per cent to ₦5.89 billion from ₦4.5 billion in the first half of 2017, while profit after tax increased to ₦1.38 billion from ₦760 million in the same period of last year.
The Chief Executive Officer, Transcorp Hotels, Mr Valentine Ozigbo, said, “We are thrilled with the half-year results of the hotel, which were primarily driven by the increase in occupancy, room inventory and aggressive marketing strategies.
“With the help of a strong and dedicated workforce, we will continue to deliver significant value to our shareholders and unrivalled service excellence to our customers.”
He stated that to achieve its long-term strategy of being Africa’s leading hospitality company, the firm was investing in diversifying its overall guest experience using technology.
Ozigbo added, “We recently launched the Transcorp Hilton mobile application, which allows guests to 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.”