• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Wednesday, July 9, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Transcorp Hotels Posts 62% Growth In Pretax Profit

by Olushola Bello
2 years ago
in Business
Share on WhatsAppShare on FacebookShare on XTelegram

Transcorp Hotels Plc, grew its profit before tax (PBT) by 62 per cent in its financial performance for the third quarter ended September 30, 2023.

Advertisement

The Company unaudited results released on the Nigerian Exchange showed a strong year-on-year growth on all indices. The hospitality brand sustained strong growth, recording 31.76 per cent growth in revenue to N29.9 billion from N22.7 billion the previous year, and significantly higher than pre-COVID performance.

Profit before tax also grew by 62 per cent to N5.5 billion from N3.4 billion. The results reflect the company’s commitment to delivering exceptional value to its stakeholders and sustaining its growth momentum.

Average Daily Rate (ADR) increased by 38 per cent to N134,739 from N99,390 during the same period in 2022. Revenue per Available Room (REVPAR) grew to N106,244 by the end of September 2023 from N77,428 at the end of September 2022, a 34 per cent increase.

Speaking on the results, managing director/CEO of Transcorp Hotels, Dupe Olusola said “this consistent financial upswing reinforces our dedication to excellence and resilience in the face of economic challenges. We have remained nimble, adapting quickly to meet the dynamic preferences of our guests.”

RELATED

Keystone Bank Donates ICT Centre To Nursing, Midwifery College In Borno

Keystone Bank Donates ICT Centre To Nursing, Midwifery College In Borno

8 hours ago
Wema Bank Set To Empower Women With ₦2m Grant At SheCan 6.0 Conference

Wema Bank Set To Empower Women With ₦2m Grant At SheCan 6.0 Conference

9 hours ago

According to Olusola, the Company continued to experience strong performance in its International Business Travel segment, as it took advantage of renewed investor confidence in the Nigerian economy as a new government resumed office.

“Transcorp Hotels also continues to maintain its strong leisure business, setting the pace with excellence in the delivery of both business and leisure offerings, as the importance of the Bleisure segment expands in the industry.”

Transcorp Hotels is the hospitality subsidiary of Transnational Corporation Plc (Transcorp Group), one of Nigeria’s largest conglomerates. Transcorp Hotels aims to build choice hospitality assets across Africa, building a strong footprint in the most populous cities across West Africa.

 


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel



SendShareTweetShare
Previous Post

FAAN Conducts Bomb Threat Simulation Exercise At Lagos Airport

Next Post

Nigeria Emerging Best Investment Hub For Agribusiness – Shettima

Olushola Bello

Olushola Bello

You May Like

Keystone Bank Donates ICT Centre To Nursing, Midwifery College In Borno
Business

Keystone Bank Donates ICT Centre To Nursing, Midwifery College In Borno

2025/07/09
Wema Bank Set To Empower Women With ₦2m Grant At SheCan 6.0 Conference
Business

Wema Bank Set To Empower Women With ₦2m Grant At SheCan 6.0 Conference

2025/07/09
Dangote Refinery
Business

Dangote Refinery To End Crude Oil Imports By December

2025/07/09
Ending Multi-billion Naira Yearly Loss To Lagos Ports Traffic Gridlock
Business

Nigeria To Refloat National Shipping Line

2025/07/09
IMO Ready To Collaborate With NIMASA On Marítime Challenges – Scribe
Business

Nigeria Has Capacity To Build, Repair Vessels – NIMASA

2025/07/09
Court Restrains Reps From Investigating Sterling Bank
Business

Lagos, Sterling One Foundation Hold Africa Social Impact Summit

2025/07/09
Leadership Conference advertisement

LATEST

Zamfara Gov Distances Self From APC, Says He’s Still In PDP

Delineation: Delta Communities Threaten To Disrupt Oil Facilities Over Alleged Marginalisation

19 Parties To Contest Ibadan North By-election

Federal Gov’t Begins Batch 7 Trials Of Suspected Terrorists

2027: ADC Candidate ‘ll Emerge Via Primary Election, Says Lukman

Djokovic Beat Cobolli To Reach 14th Wimbledon Semi-finals

Trump Faces Backlash For Praising Liberian President’s Fluent English

EFCC Probes Undeclared $29,000 Cash Intercepted At Lagos Airport

Revised US Visa Policy On Nigerian Travellers Uncalled For, Says Federal Gov’t

‘Development Is Minister’s Job, Not Mine’, Senator Ireti Kingibe Speaks On FCT Projects

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.