Transcorp Grows Revenue By 62% In Q1

Transnational Corporation Plc, one of Nigeria’s conglomerates with interests spanning power, hospitality, and energy, has posted a 62 per cent surge in revenue for the first quarter of 2025, underscoring the company’s robust operational performance and strategic positioning.

According to its unaudited financial results for the period ended March 31, 2025, Transcorp reported group revenue of N143.7 billion, a sharp increase from N88.5 billion recorded in the same period last year. The company attributes this strong topline growth to improved output across its subsidiaries, particularly in the power and hospitality sectors.

Transcorp’s power portfolio, which includes Transcorp Power and Transafam Power, was a key growth driver. The segment delivered N126.8 billion in Q1 revenue, up 70 per cent year-on-year from N74.8 billion. Transafam Power, acquired in late 2020, was a standout performer, recording a remarkable 212 per cent year-on-year revenue growth, rising from N6.9 billion to N21.4 billion.

Meanwhile, Transcorp Hotels, the group’s hospitality arm, posted a 52 per cent increase in quarterly revenue to N21.0 billion, up from N13.8 billion in the first quarter of 2024. The performance reflects continued recovery in the travel and tourism industry and effective cost management across its properties.

On the profitability front, gross profit rose by 59 per cent to N73.31 billion, compared to N46.21 billion in the prior-year quarter. Profit before tax (PBT) came in at N49.41 billion, up slightly from N45.68 billion in Q1 2024 — a period that had benefitted from an exceptional income of N11.0 billion from asset disposal.

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Commenting on the results, President and Group CEO of Transcorp, Dr. Owen Omogiafo, “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.”