Dec 29 (Lagos) - As we close for the last trading day of 2023, we must acknowledge what a phenomenal year it has been for Mr. Tony Elumelu, CON, MFR his Transcorp Group.
The two listed Companies of the group were among the top 5 stocks of 2023. Transcorp Hotels Plc (
TRANSCOHOT ) gained 920% in 2023 while
TRANSCORP gained 670% during the year. Companies can spend their lifetimes in recording those kind of gains so for them to come in a matter of 1 year is simply spectacular.
Even today on the last trading day of the year,
TRANSCOHOT gained another 10% while
TRANSCORP was down 1.59% after a huge run this December. Not to mention
UBA , which is also chaired by Mr. Tony Elumelu, also recorded multi-fold gains this year.
Investors who picked these stocks danced all the way to the Bank.
Do you think 2024 will see these stocks rise with the same power and intensity of do you expect them to consolidate a bit and see what the financial results show when the come out? May its time to be a bit careful, Time will tell. For now, its definitely time for the shareholders of the Transcorp to enjoy themselves.
Its a toast for Transcorp Group and to Mr. Tony Elumelu, CON, GFR.
reporting for easykobo.com on Friday, Decmber 29 2023 from Lagos, Nigeria