TRANSNATIONWIDE EXPRESS PLC: EXPRESS PROFIT.

Transnationwide Express PLC seems set to close financial year 2015 with express profit going by the figures for the nine months to September 2015 released last week.
This is because, according to the figures, the company's turnover was dictating good pace ahead of expenses even though reported is not in double digit.
Transnationwide turnover increased by 9.7 per cent to N589.1m although overall growth in income was a lower 9.36 per cent due to drop in income from other sources.
To generate this, however, the increase in direct cost came to only 5.8 per cent from N220.8m to N 233.6m while administration overhead rose by 5.09 per cent to N291.2m.
Then finance charges ended the nine months 4.71 per cent down to N4.45m as against N4.67m by September 2014.
Hence, Transnationwide ended the period with 64 per cent increase in profit to N61m compared to N37.2m previously.
THUS:
* Transnationwise Express should have a relatively very good year come year end December.
* However, its inventories stock up demands a closer watch even though overdraft dropped by 56 per cent, and current liabilities closed only 4.43 per cent up well behind 6.58 per cent rise in current assets.

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