Shareholders of Transcorp Hotels Plc, at the weekend in Abuja reviewed its financials for the year ended December 31, 2018, applauding the 26% rise in turnover, while unanimously endorsing 15 kobo final dividend, which translated to ₦1.14bn for the period, a 20% improvement over the 12 kobo distributed for the 2017 full-year.
In his review of the financals, the company’s Chairman, Emmanuel Nnorom said “Transcorp Hotels Plc has exceeded the bar with an impressive turnover of ₦17.4bn from ₦13.8bn recorded in 2017, representing an improvement of 26%. This is an unprecedented achievement in the history of the Company.”
The result, he continued, is a further demonstration of its “ability to adapt quickly to a changing business environment while keeping pace with global best standards in hospitality.” The Chairman also thanked the Shareholders for their continued support and faith in the board and management.”
Commending also, Patrick Ajudua, President, New Dimension Shareholders Association believes the Federal Government must be proud of Transcorp Hotels, given that it has remained a good example of what the privatisation programme undertaken years ago should be, at a time when many of its peers are still wobbling.
This, he noted, is the fruit of good corporate governance and the presence of a focused management team that is concerned ensuring returns to shareholders.
Managing Director/Chief Executive of the company, Mrs. Owen Omogiafo also reiterated the company’s commitment to quality and global standard customer experience, drawing on the varied international awards conferred on the Company.
“We are redefining the hospitality landscape in Africa and positioning our continent as a preferred destination for local and international tourists. Our numerous awards and recognition are proof of this,” she added.
On the prospects for 2019, Mrs. Omogiafo noted that “Transcorp Hotels will continue to leverage on its unique value proposition and proven strategies to exceed 2018 performance.” She further said that growth and efficiency underpinned by a strong culture of service excellence and cost optimization will drive the company.
Photo Caption: From left to right, Executive Director, Transcorp Hotels Plc, Ms Okaima Ohizua; Managing Director/CEO, Mrs Owen Omogiafo; Chairman, Emanuel Nnorom; Company Secretary, Ms Helen Iwuchukwu; and Director/President of Transcorp Plc, Valentine Ozigbo, at the 5th Annual General Meeting of the company held at Transcorp Hilton Hotels Abuja on Friday March 15, 2019.