Shareholders of Transcorp Hotels Plc have extolled the company for its impressive financial results for the year ended December 31, 2018.
Congratulatory remarks were made at the company’s 5th annual general meeting, which took place at the Congress Hall of the iconic Transcorp Hilton, Abuja.
Following the company’s 26% increase in turnover, the shareholders unanimously endorsed a final dividend of ₦1.14bn for the 2018 financial year. The final dividend translated to 15kobo per ordinary share, which is a 20% improvement over the 12kobo per ordinary share for 2017.
Speaking on the company’s growth milestones, chairman of the board of directors, Emmanuel N. Nnorom, said: “Transcorp Hotels Plc has exceeded the bar with an impressive turnover of ₦17.4billion from ₦13.8billion recorded in 2017, representing an improvement of 26%.
“This is an unprecedented achievement in the history of the Company. It is a further demonstration of our ability to adapt quickly to a changing business environment while keeping pace with global best standards in hospitality.”
Mr Nnorom also thanked the shareholders for their continued support and faith in the company’s board and management of.
Commending the company for its overall performance, President of New Dimension Shareholders Association, Patrick Ajudua, said that Transcorp Hotels Plc is an embodiment of what privatisation in Nigeria should be.
He also said that good corporate governance and the presence of a focused management team who are concerned with giving returns to shareholders are some underlying factors behind the company’s continued success.
Managing Director/CEO, Owen Omogiafo, re-emphasised the company’s commitment to quality and global standard customer experience, drawing on the varied international awards conferred on the Company.
She said: “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.”
On the prospects for 2019, Mrs Omogiafo said 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 optimisation will drive the company.
