According to him, Transcorp’s Profit Before Tax for the year under review stood at N58.8 billion.
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The statement was signed by the Chairman of the Board of Directors, Tony Elumelu, Acting Chief Finance Officer Olumuyiwa Awe and Transcorp President Owen Omogiafo. The chairman stated that the operating profit for the group, which opened at N46.57 billion, also rose by 75 per cent to N81.4 billion in the year 2023.
According to him, Transcorp’s Profit Before Tax for the year under review stood at N58.8 billion, compared to N30.4 billion posted in the previous year.He, however, disclosed that the group recorded N8.7 billion net foreign exchange loss on foreign currency borrowings, indicating a 110 per cent increase, from N4.1 billion posted in the year 2022.
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