Transcorp Hotels Plc said it will pay its shareholders N717m dividend for the 2021 financial period.
The company said its gross profit increased by 143 per cent, while its revenue grew by 114 per cent to N21.74bn according to the audited financial statements for the full year ended December 31, 2021.
In a statement, it said, “The results published on the Nigerian Group Exchange showed a 114 per cent growth in revenue to N21.74bn from N10.16bn as of December 2020, while gross profit rose by 143 per cent to N16.23bn from N6.67bn.
“The company’s results show impressive growth in its performance signalling its strong recovery from the impact of the COVID- 19 pandemic in 2020. The performance also reflects the company’s resilience and nimbleness, as it consistently leverages innovation to achieve outstanding performance, breaking occupancy, and revenue records in 2021.”
Dupe Olusola, managing director/chief executive officer, Transcorp Hotels Plc, was quoted as saying, “We are very pleased with the incredibly strong operating performance of our businesses, as most segments improved in 2021.
“Our leisure demand remained strong throughout the year as different leisure packages introduced continue to drive occupancy.
“We believe that Transcorp Hotels Plc is well-positioned to continue to capitalise on the recovery in the hospitality industry as we work towards achieving our vision of becoming Africa’s leading hospitality brand.
“We are on launching several projects that have been in the pipeline to further our play of being a full-service hospitality brand and diversify our portfolio.
“We are excited about the opportunities to deliver continued growth in 2022, as we remain focused on strengthening our business and investing for the future.”
Mr Emmanuel Nnorom, chairman, Transcorp Hotels Plc, said he expects the hospitality industry to continue to recover in 2022.
He said, “As the domestic leisure, business and the leisure segment — corporate travellers which also add leisure activities into their stay – continue to expand, even as international guests return, we expect the hospitality industry to continue its recovery.”
Transcorp Hotels, according to him, is in an advantageous position to drive the recovery of the industry in Nigeria.
