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Lumen Christi High School, Uromi wins SEPLAT Pearls Quiz Competition 2017

Published

7 years ago

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The students of Lumen Christi International High School, Arue-Uromi, Edo State won this year’s SEPLAT Pearls Quiz competition. The annual competition is organised by SEPLAT Petroleum Development Company PLC, operators of the NPDC/SEPLAT JV assets, OML 4, 38 & 41.

The winning school, represented by Kingsley Okafor, Cletus Ifedhor and Clinton Opara emerged after a keenly contested finale on Thursday, October 5 at the Unity Hall of the Delta State Government House in Asaba, the state capital. Each one of them walks away with scholarships worth N100,000 and N7 million for their school.

This is the sixth edition of the annual SEPLAT Pearls Quiz competition which has been putting smiles on the faces of students, teachers and owners of schools in Edo and Delta states since inception.

Rejoice Imiebenomo Eromosele, Destiny Ekanioe and Mary Omo Ijogbe from Russel International Group of Schools, Benin City, Edo State came second and also won scholarships for themselves and a cash prize of N3 million for their school while the students of Delta Steel Company Technical High School, Ovwian, Aladja, represented by Uzezi Omaduvie Henry, Dorothy Ezekiel and Success Nwajei placed third going away with scholarships and N1 million for the school.

Austin Avuru, MD/CEO of SEPLAT, said the event is one of the company’s landmark programmes.

“This is the one dedicated to education and excellence. We have one dedicated to healthcare. This is designed to promote exceptional and responsible leaders. That is what this quiz competition is designed for,” he stated.

He explained that this is the sixth edition of the programme which took off in 2012 with no less than 900 schools from Edo and Delta states participating annually.

“It is still a programme we are very proud of. Through this programme we have awarded 45 scholarships, we have implemented projects in 12 schools. In the first four editions, the first prize was a Toyota Hiace bus. We changed that so that we don’t impose a vehicle on a school that doesn’t even need it.

“What we do now, the first prize we execute N7 million worth of projects in the school. Give N100, 000 to each of the participating students. Second prize we execute N3 million worth of projects in the school and N75,000 to each of the students. For the third prize we execute N1 million worth of projects and N50, 000 for each of the students. There are other consolation prizes of N10,000 each that is given out to 105 schools since inception,” he said.

Chiedu Ebie, Commission for Basic and Secondary Education, Delta State, who represented the state Governor, Ifeanyi Okowa, said that the Delta State Government understands the importance in investing and building human capacity, particularly education.

Explaining that the state was delighted to be hosting the event this year, he said that quiz competitions are aimed at building the spirit of healthy competition among students but the Seplat Pearls Quiz Competition in Delta and Edo states aims further than that.

“It promotes unity and integration among the students of both states. It is a heartwarming story that in the past six years, SEPLAT has successfully held this competition, including awarding scholarships to secondary and tertiary school students,” he stated.

While congratulating the students during her speech, Dr. Chioma Nwachuku, GM, External Relations and Communications, said that the winning schools had given a very good account of themselves this year having emerged from among over 900 schools.

The elated students and teachers of the winning schools were full of thanks for SEPLAT for starting and sustaining the programme over the years. They were all in agreement that the initiative has been promoting academic excellence, stimulating healthy competition, encouraging learning and rewarding outstanding academic performance among schools in Edo and Delta states in collaboration with the Ministries of Education in the respective states.

ABOUT SEPLAT PETROLEUM DEVELOPMENT COMPANY PLC:

SEPLAT Petroleum Development Company Plc, the operator of the NPDC/ SEPLAT Joint Venture, is a publicly quoted Nigerian Exploration and Production independent company. The company listed simultaneously in Nigerian and London Stock Exchanges in April 2014. With an average gross gas production of 99 million standard cubic feet per day in 2013. Seplat projects to triple its gas production by end 2016 through massive investments in processing and delivery infrastructure.

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Transcorp Group delivers impressive Q1 2024 performance; sustains revenue growth of 173% and PBT of N45 billion

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3 hours ago

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May 2, 2024

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Transnational Corporation Plc (“Transcorp” or the “Group”), Nigeria’s leading, listed conglomerate with investment in the Power, Hospitality, and Energy sectors, has announced impressive Q1 financial results for the period ended March 31, 2024.

In its Q1 2024 unaudited results, Transcorp reported significant year-on-year growth, with revenue rising to N88.6 billion from N32.4 billion in 2023, representing a 173% increase.

The impressive results are largely driven by a remarkable 209% year-on-year revenue growth within the power business, highlighting significant strategic progress as part of Transcorp Group’s implementation of its integrated power strategy.

The hospitality business recorded a 68% year-on-year growth in revenue, driven by an increase in occupancy rate from 75% to 82% compared to the previous year.

The results show substantial growth across all financial indicators, reinforcing its market leadership and strategic positioning.

Highlight of Transcorp Group Results:

  • Q1 2024 Revenue was N88.6 billion, a significant increase of 173%, compared to Q1 2023.
  • Operating income increased by 479%, from N8.5 billion in Q1 2023 to N49.1 billion in Q1 2024.
  • Operating expenses saw an increase of 40% year on year to N8.2 billion in Q1 2024, reflecting the impact of inflation and cost of operations.
  • Net finance cost increased by 14% to N3.7 billion in 2024 from N3.2 billion in 2023 due to a slightly higher interest rate review in line with MPR.
  • Profit before tax from ordinary business of the Group  surged by 1110%, amounting to N34.7 billion in Q1 2024, compared to N2.9 billion in Q1 2023 in the same period last year.
  • Profit before tax inclusive of extra ordinary income was N45.7 billion in 2024 compared to N2.9 billion in 2023.
  • The Group recorded extra ordinary income of N11 billion during the period from the realised gain from the sale of shares.
  • Profit after Tax including the extra ordinary income improved 1832% year-on-year to N35.9 billion in Q1 2024, compared to N1.9 billion in Q1 2023 in the same period last year.
  • Earnings per share of the Group was N61.12k in Q1 2024, compared to N2.58k in Q1 2023.
  • On the balance sheet, total assets grew by 8.3%, from N530 billion in December 2023 to N574 billion in Q1 2024 due to the increase in operational activities.
  • Shareholders’ funds increased by 20% from N187billion in December 2023 to N224 billion at the end of Q1 2024 due to profit accreted to retained earnings.

In response to the results, Dr. Owen D. Omogiafo, President/Group Chief Executive Officer of Transcorp, commented, “Our Q1 2024 results demonstrates Transcorp Group’s resilience and commitment to excellence. Despite the challenges, we achieved growth across all major indices, focusing on operational efficiency at both our power plants, and maximising opportunities within our hospitality business, showing our ability to adapt and succeed in changing markets. We will continue to deliver sustainable growth, operational efficiency, and value for our shareholders.”

This robust achievement is a further demonstration of the Group’s strategic focus and effective execution. Transcorp is dedicated to its transformation agenda, emphasising sustained growth and a relentless pursuit of long-term value for shareholders.

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News and Report

Transcorp Group delivers impressive Q1 2024 performance; sustains revenue growth of 173% and PBT of N45 billion

Published

3 hours ago

on

May 2, 2024

By

Transnational Corporation Plc (“Transcorp” or the “Group”), Nigeria’s leading, listed conglomerate with investment in the Power, Hospitality, and Energy sectors, has announced impressive Q1 financial results for the period ended March 31, 2024.

In its Q1 2024 unaudited results, Transcorp reported significant year-on-year growth, with revenue rising to N88.6 billion from N32.4 billion in 2023, representing a 173% increase.

The impressive results are largely driven by a remarkable 209% year-on-year revenue growth within the power business, highlighting significant strategic progress as part of Transcorp Group’s implementation of its integrated power strategy.

The hospitality business recorded a 68% year-on-year growth in revenue, driven by an increase in occupancy rate from 75% to 82% compared to the previous year.

The results show substantial growth across all financial indicators, reinforcing its market leadership and strategic positioning.

Highlight of Transcorp Group Results:

  • Q1 2024 Revenue was N88.6 billion, a significant increase of 173%, compared to Q1 2023.
  • Operating income increased by 479%, from N8.5 billion in Q1 2023 to N49.1 billion in Q1 2024.
  • Operating expenses saw an increase of 40% year on year to N8.2 billion in Q1 2024, reflecting the impact of inflation and cost of operations.
  • Net finance cost increased by 14% to N3.7 billion in 2024 from N3.2 billion in 2023 due to a slightly higher interest rate review in line with MPR.
  • Profit before tax from ordinary business of the Group  surged by 1110%, amounting to N34.7 billion in Q1 2024, compared to N2.9 billion in Q1 2023 in the same period last year.
  • Profit before tax inclusive of extra ordinary income was N45.7 billion in 2024 compared to N2.9 billion in 2023.
  • The Group recorded extra ordinary income of N11 billion during the period from the realised gain from the sale of shares.
  • Profit after Tax including the extra ordinary income improved 1832% year-on-year to N35.9 billion in Q1 2024, compared to N1.9 billion in Q1 2023 in the same period last year.
  • Earnings per share of the Group was N61.12k in Q1 2024, compared to N2.58k in Q1 2023.
  • On the balance sheet, total assets grew by 8.3%, from N530 billion in December 2023 to N574 billion in Q1 2024 due to the increase in operational activities.
  • Shareholders’ funds increased by 20% from N187billion in December 2023 to N224 billion at the end of Q1 2024 due to profit accreted to retained earnings.

In response to the results, Dr. Owen D. Omogiafo, President/Group Chief Executive Officer of Transcorp, commented, “Our Q1 2024 results demonstrates Transcorp Group’s resilience and commitment to excellence. Despite the challenges, we achieved growth across all major indices, focusing on operational efficiency at both our power plants, and maximising opportunities within our hospitality business, showing our ability to adapt and succeed in changing markets. We will continue to deliver sustainable growth, operational efficiency, and value for our shareholders.”

This robust achievement is a further demonstration of the Group’s strategic focus and effective execution. Transcorp is dedicated to its transformation agenda, emphasising sustained growth and a relentless pursuit of long-term value for shareholders.

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News and Report

May Day: Glo salutes Nigerian workers  

Published

21 hours ago

on

May 1, 2024

By

 

Digital telecommunications solutions provider, Globacom, has saluted Nigerian workers as the country observes this year’s edition of the International Workers’ Day. The company enjoined them to rededicate themselves to excellence so as to take Nigeria to the next level.

 

In a solidarity message released on Tuesday, Globacom lauded the resilient spirit of workers in spite of present challenges. It urged them to use the opportunity of the Workers’ Day to reflect on how their contributions can build a better and more vibrant society.

 

“We salute Nigerian workers on this this day and commend them for the hard work, commitment, resourcefulness and industry which are essential for the growth of the economy of any nation”, Globacom said, and urged them not to rest on their oars.

 

The company noted that the story of Nigeria cannot be complete without the huge contributions of workers, both in the public and private sectors.

 

The International Labour Day is observed annually on May 1 to recognize the contributions of workers all over the world. It is also used to promote a fairer and more sustainable future for all by advocating for workers

’ rights.

 

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