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  • Dr. Owen Omogiafo, President of Transcorp Group has acquired an additional 15.18 million shares worth N47.7 million in the company.
  • The acquisition of 15.18 million shares represents 0.04% of the company’s total outstanding shares of the company.
  • The Group in the first quarter (Q1), of 2023 declared N32.39 billion in revenue, representing an increase of 3.30% from N31.39 billion in Q1 2022.

Dr. Owen Omogiafo, President of Transcorp Group has acquired an additional 15.18 million shares worth N47.7 million in the company.

This is contained in a notice of share dealing by an insider to the Nigerian Exchange Limited obtained by Nairametrics.

The acquisition of 15.18 million shares represents 0.04% of the company’s total outstanding shares of the company.

Increase in the number of shares

With the acquisition, Omogiafo has increased her number of shares from 12,634,188 units of shares as of December 31, 2022, to N27,817,871 units.

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  • The notice signed by Funmi Olofintuyi, Company Secretary (Ag.) indicated that Omogiafo on June 23, 2023, purchased 15.183,683 units of Transcorp shares at an average price of N3.14 per share valued at N47.7 million.
  • Transcorp closed its last trading day (Friday, June 23, 2023) at N3.21 per share on the Nigerian Stock Exchange (NGX), recording a 0.6% gain over its previous closing price of N3.19.
  • Transcorp began the year with a share price of N1.13 and has since gained 184% on that price valuation.

What you should know

The Group in the first quarter (Q1), of 2023 declared N32.39 billion in revenue, representing an increase of 3.30% from N31.39 billion in Q1 2022.

  • The increase in revenue was primarily driven by N24.14 billion generated from Power, followed by N8.25 billion from Hospitality in the period under review.
  • The Group reported N18.17 billion cost of sales in Q1 2023, an increase of 12.4% from N16.16 billion in 2022, fueled by N13.37 billion Natural gas and fuel costs in Q1 2023 from N12.11 billion reported in Q1 2022.
  • Total operating expenses moved to N5.64 billion in Q1 2023 from N4.29 billion in Q1 2022 over a hike in inflation rate as the Group Impairment (loss) on financial assets closed Q1 2023 at N77.62 million as against N135million reported in Q1 2022.
  • The group reported a 63.08% drop in its Profit After Tax (PAT) to N1.86 billion in the first quarter of 2023.

According to Transcorp’s unaudited financial report for Q1 2023, the drop was significant from the N5.04 billion the company posted in Q1 of 2022.

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Transcorp’s Profit Before Tax (PBT) also fell by 50.18% to N2.85 billion in Q1 2023 from N5.73 billion in the first quarter of 2022.

Source: Nairametrics

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