WorldStage Newsonline– The Tourist Company of Nigeria Plc, the owner of the prestigious Federal Palace Hotel, Lagos has released its annual report 31 December 2020 and results for the six months ended 30 June 2021 with total comprehensive loss for the year rising by 533% to N7.654 billion from N1.21 billion loss in 2019.
Revenue for the full year dipped by 64% to N1.306 billion from N3.666 billion in 2019.
The condensed unaudited financial statements for the three months ended 31 March 2021 showed that loss after tax was cut to N877.142 million from N4. 075 billion in Q1 2020 while revenue also dropped to N518. 903 million from N 664 .941 million in Q1 2020
