Gatekeepers News reports that on Wednesday, January 10, 2023, Transcorp Hotels Plc (TRANSCOHOT) gained 7.24% at the NGX to close at a share price of N100, thus taking the group to a market capitalization of N1.024 trillion.
Over the past year, Transcorp Hotels has enjoyed a remarkable performance in the Nigerian Exchange (NGX). The company ended 2023 as the best–performing stock in the NGX as it recorded a yearly gain of 1022.9% during the year.
The company closed 2023 with a market cap of N718.8 billion, a whopping N654.8 billion increase from the N64 billion recorded at the start of 2023.
In 2024, Transcorp Hotels maintained impressive market growth, boasting a 42.5% increase year-to-date. This year alone, Transcorp Hotel’s market capitalisation has surged by N305.43 billion.
During the week ending January 12, 2023, Transcorp Hotels Plc joined banking groups, FBN Holdings and United Bank for Africa in the SWOOT group. Hence, there are eleven companies in the NGX with a market cap of over N1 trillion.
The list of companies in the SWOOT group are:
Airtel Africa – N7.52 trillion
Dangote Cement – N5.96 trillion
MTN Nigeria – N5.94 trillion
BUA Foods – N4.095 trillion
BUA Cement – N3.45 trillion
GTCO Holdings – N1.36 trillion
Seplat Energy –N1.36 trillion
Zenith Bank – N1.35 trillion
United Bank for Africa – N1.06 trillion
Transcorp Hotels – N1.02 trillion
FBN Holdings – N1.005 trillion
In 9 months 2023, Transcorp Hotels recorded a revenue of N29.85 billion, representing a 32% increase year-on-year from the same period in 2022.
In the same 9 months 2023, The company recorded a net income of N4.07 billion, representing a 79% increase year-on-year from the corresponding period in 2022.
Transcorp Hotels is a subsidiary of Transnational Corporation Plc, with the latter owning a significant 76.15% stake in the hotel. The Federal Government of Nigeria also owns an 11.04% stake in the hotel.
The company which is headed by Dupe Olusola owns Transcorp Hilton Abuja and Transcorp Hotels, Calabar, as well as the online platform, Aura by Transcorp.
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