Transnational Corporation Plc (Transcorp Group), Nigeria’s leading listed conglomerate with strategic investments in the power, hospitality, and energy sectors, has announced its unaudited results for the first quarter ended March 31, 2025.
The group recorded a revenue of N143.7 billion, marking an increase of 62%, compared to revenue of N88.5 billion in Q1 2024.
In a statement on Thursday, Transcorp Group said the strong performance was driven by the exceptional contributions of its subsidiaries.
“The performance underscores the strength and resilience of our business operations and reaffirms our ability to generate sustainable value for our investors”, it added.
According to the Group, the power businesses delivered robust revenue growth of 70% year-on-year, reaching N126.8bn in Q1 2025, up from N74.8bn in Q1 2024. It highlighted that Transafam Power, acquired in November 2020, achieved 212% year-on-year revenue growth, from N6.9bn to N21.4bn.
Also, another subsidiary, Transcorp Hotels, delivered a strong performance in Q1 2025, with revenue rising by 52% year-on-year to N21.0bn, up from N13.8bn in Q1 2024.
In all, Gross profit for the Group soared to N73.31bn in Q1 2025 from N46.21 bn in Q1 2024. It, however, closed the quarter with a very healthy Profit Before Tax (PBT) of N49.41 bn compared with N45.68 billion in Q1, 2024, which had an exceptional income of N11.0 billion from the disposal of shares.
Commenting on the achievements, President/GCEO of Transcorp Plc, Dr Owen D. Omogiafo, said, “Our Q1 2025 financial results underscore the strength of our execution, resilient business model, and unwavering commitment to delivering sustained value to our shareholders, even in a challenging market landscape.”
Transnational Corporation Plc (Transcorp Group) is one of Africa’s leading, listed conglomerates, with strategic investments in the power, hospitality, and energy sectors, driven by its mission to improve lives and transform Africa.
Transcorp’s power businesses, Transcorp Power Plc and Transafam Power, provide over 20% of Nigeria’s installed power capacity.
Transcorp is committed to developing Nigeria’s domestic energy value chain through its investments in OPL281. The Group’s hospitality business, Transcorp Hotels Plc, owns the iconic Transcorp Hilton Abuja, Nigeria’s flagship hospitality destination, and has launched the digital platform Aura by Transcorp Hotels.
