Nigeria’s Transcorp says H1 pretax profit falls

Transnational Corporation Nigeria’s first-half pretax profit fell by 35.6 percent to 5.16 billion naira ($25.94 million), from a year ago.

Revenue at the conglomerate, which has interests in hotel, power generation, oil and gas, fell to 20.25 billion naira in the period to end-June against 21.21 billion naira last year, the company said without giving any reason for drop in earnings.