Tran-nationwide Express 2016 Financial Summary
Legal Form
The company was incorporated as TNT SKYPAK NIGERIA LIMITED on 28th March, 1984 as a private limited liability company and on 6th September, 1992, the company‟s name was changed to Trans-Nationwide Express Plc as a public limited liability company.
Principal business activities
The company provides courier services, freight services, logistics, mail room management, haulage and e-commerce from its Headquarters in Lagos and 38 branches.
| 2016 N'000 |
2015 N'000 |
change | Year End | |
| Revenue | 803,724 | 798,557 | 1% | December |
| Profit/Loss before taxation | 30,292 | 75,678 | -60% | |
| Profit for the period | 20,186 | 50,972 | -60% | |
| Issued Shares (Units) | 198,819,762 | 198,819,762 | ||
| Basic Earnings Per Shares (Kobo) | 10.00 | 26.00 | -62% | |
| Last total dividend paid (Kobo) | 5.00 | 10.00 | -50% |
Quarter on Quarter performance
Revenue PAT
N'000 N'000
Q1: #213,329 Q1: #17,701
Q2: #208,570 Q2: #11,339
Q3: #180,726 Q3: #61,546
Q4: #201,099 Q4: (#70,400)
Tran-nationwide express had a relative moderate year, with an average 0f #803million in revenue and #5.04million in profit.
A closer look at the report shows that Direct cost driven by high direct operating cost, freight expenses and logistic expenses impacted negatively on the revenue as against the same period in 2015. Direct cost was 44.83% of sales in 2016 while it was 38.91% in 2015. This reduced the gross profit and cascaded down to the bottom line.
We also observed that total asset declined by 13.97% and this was due to trade receivable that declined by 9.71% and other receivables that declined by 34.74%. The implication of the above is that the company is not playing with its debtor, it is raking in money as possible as it can.
Courier business should pick up with the improvement in the economy and we expect Tran-nationwide express to benefit.
The stock closed at 99k today 29th March,2017. with a dividend yield of 5.05%.
Tran-nationwide express had a relative moderate year, with an average 0f #803million in revenue and #5.04million in profit.
A closer look at the report shows that Direct cost driven by high direct operating cost, freight expenses and logistic expenses impacted negatively on the revenue as against the same period in 2015. Direct cost was 44.83% of sales in 2016 while it was 38.91% in 2015. This reduced the gross profit and cascaded down to the bottom line.
We also observed that total asset declined by 13.97% and this was due to trade receivable that declined by 9.71% and other receivables that declined by 34.74%. The implication of the above is that the company is not playing with its debtor, it is raking in money as possible as it can.
Courier business should pick up with the improvement in the economy and we expect Tran-nationwide express to benefit.
The stock closed at 99k today 29th March,2017. with a dividend yield of 5.05%.
Corporate Action
Proposed Dividend: 5kobo per Share
Proposed Bonus : Nil
Qualification Date : July 3-7, 2017
AGM Date: July 13, 2017
Payment Date:July 14, 2017
AGM Venue: Airport Hotel Obafemi Awolowo way, Ikeja, Lagos
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