By InvestAdvocate

Lagos (INVESTADVOCATE)-Transcorp Hotels Plc (TRANSCOHOT), the hospitality subsidiary of conglomerate,  Transnational Corporation of Nigeria Plc (TRANSCORP) said on Thursday its nine-month pretax profit declined 15 percent to N3.42 billion in the period ended September 30, 2015 compared with N4.02 billion posted a year ago.

Similarly, profit after tax (PAT) dipped same margin of 15 percent to N2.34 billion from N2.76 billion declared the same period of last year.

Also, revenue of the hotelier dropped to N10.46 billion compared with N11.44 billion the previous year, TRANSCOHOT said in a filing with the Nigerian Stock Exchange (NSE).

However, shares of TRANSCOHOT’s parent company TRANSCORP gained 0.46 percent to N2.20 from N2.19 traded the previous session; gaining 0.01 kobo per share on the Nigerian bourse.