Transcorp Hotels Plc, the hospitality subsidiary of Transnational Corporation Plc has released its unaudited results for the first quarter (Q1) ended March 31, 2025.
In a statement Monday, the hotel announced a sustained profit momentum in Q1 2025, growing gross profit by 59.6 percent to N15.84 billion from N9.92 billion.
In the same period of the preceding year, Transcorp Hotels also delivered a Profit Before Tax (PBT) of N6.16 billion compared with N6.09 billion in the preceding year — even without the exceptional N2.9 billion FX gain recorded in the prior year.
Transcorp Hotels recorded an impressive year-on-year (YoY) revenue growth of 52 percent from N13.8billion in Q1, 2024 to N21billion in Q1, 2025. This strong growth reflects enhanced operational performance, the company said.
Transcorp Plc MD/CEO, Uzo Oshogwe comments: “Our Q1 2025 results demonstrate the underlying strength of our business and the effectiveness of our strategic focus on driving revenue growth. The significant increase in revenue and the impressive profit margin growth are clear indicators of the hard work and dedication of our team.
“We recently added Transcorp Centre, a 5,000-capacity event space, to our expanding assets, including the iconic Transcorp Hilton Abuja, as we continue to solidify our position as a leader in the African hospitality landscape.
“With the recent completion of the new event centre, the company is well positioned to unlock additional revenue streams and drive further profit growth reinforcing Transcorp Hotels’ leadership in Nigeria’s hospitality sector and creating long-term value for shareholders.
“This solid performance highlights the underlying strength of our operations and our ability to deliver value, even in a less favourable macroeconomic environment,” the company noted further.
