NGX Hosts Transcorp Hotels Plc to Virtual Facts Behind the Figures

Nigerian Exchange (NGX) Limited hosted Transcorp Hotels Plc to a virtual Facts Behind the Figures to present the company’s financials to capital market stakeholders on Wednesday, 5 May 2021. Following the presentation, the Managing Director (MD)/Chief Executive Officer (CEO), Transcorp Hotels, Mrs. Dupe Olusola, was given the honour of sounding the digital Closing Gong.

Speaking at the event, the Divisional Head, Listings Business, NGX, Mr. Olumide Bolumole stated, “Recently, NGX hosted the CEO, Transcorp Hotels Plc, Mrs. Dupe Olusola to a digital Closing Gong Ceremony to commemorate the formal listing of their N10Billion rights issue. We are pleased that Transcorp Hotels has again chosen to utilise our platform to engage the market about the financial performance as well as strategic and operational developments within the organization. The Exchange recognizes the efforts made by the Board and Management of Transcorp Hotels Plc towards achieving business continuity by enhancing the organization’s operational efficiency. We congratulate you on the successful unveiling of new product lines and efforts towards repositioning the organization, thereby reassuring investor confidence in the company.”

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On her part, Mrs. Olusola noted that “Despite the adverse effect of the COVID 19 pandemic on all our business segment, Transcorp Hotels Plc remained resilient and took a critical and fundamental decision to remain open and maintain operations at both the Transcorp Hilton Abuja and Transcorp Hotels Calabar. Our primary goal was to survive as individuals and as a business, to adapt and to thrive in a new, changing, and unprecedented environment. Post-COVID 19 starting from September, we recorded an improvement in all our KPIs as compared with the Industry performance. Today, leisure has become very important to us more than ever. As a hospitality business, we will constantly continue to challenge ourselves to ensure that we meet the diverse customer needs and provide excellent experience across all touchpoints.”

Given that information asymmetry affects the decision-making of investors, NGX continues to encourage more issuers to take advantage of its platform to deliver timely, relevant, and accurate information to the market.