Nigeria’s conglomerate Transcorp 9-month pre-tax profit rises 89 pct

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L-R: President/CEO, Transcorp, Obinna Ufudo; CEO, Nigerian Stock Exchange, Oscar Onyema; Chairman, Transcorp, Tony Elumelu; and Executive Director, ...
L-R: President/CEO, Transcorp, Obinna Ufudo; CEO, Nigerian Stock Exchange, Oscar Onyema; Chairman, Transcorp, Tony Elumelu; and Executive Director, …

Nigeria’s conglomerate Transnational Corporation said on Monday its 9-month pretax profit rose 88.91 percent to 9.71 billion naira($59.03 million) from 5.14 billion naira a year earlier.

Revenue also rose to 31.40 billion naira in the nine month to Sept. 30, from 11.78 billion naira in the same period last year, the company said in a filing with the Nigerian Stock Exchange.