Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Transcorp Nigeria Advances Most in a Month as Profit Soars

July 29 (Bloomberg) -- Transnational Corp. of Nigeria Plc, which has interests in hotels, agriculture and oil, rose the most in a month after full-year net income soared.

The stock gained 4 kobo, or 3.9 percent, its biggest increase since June 28, to 1.07 naira by the 2:30 p.m. close in Lagos.

Profit for the 12 months through December jumped to 5.4 billion naira ($35 million) from 1.22 billion naira a year earlier, the Lagos-based company said in a statement yesterday on the website of the Nigerian Stock Exchange.

The price of Transcorp shares have more than doubled this year, compared with a 3.8 percent decline in the Nigerian Stock Exchange All-Share Index over the same period.

To contact the reporter on this story: Vincent Nwanma in Lagos at vnwanma@bloomberg.net.

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.