Transcorp Hotels Declares Pre-tax Profit Of N6.16bn In Q1

Transcorp Hotels Plc has posted a profit before tax of N6.157 billion in its unaudited results for the first quarter ended March 31, 2025.

The company’s Q1 results released on the Nigerian Exchange Limited showed that, Transcorp Hotels sustained its profit momentum in Q1 2025, growing gross profit by 59.6 per cent to N15.84 billion from N9.92 billion of the preceding year also delivering a strong profit before tax of N6.157 billion compared with N6.09 billion of the previous year, even without the exceptional N2.9 billion FX gain recorded in the prior year.

Revenue grew by 52 per cent to N21 billion from N13.8 billion in 2024. This strong growth reflects enhanced operational performance.

Transcorp Hotels said “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.

Transcorp Hotels achieved a notable improvement in gross profit margin in Q1 2025, despite a challenging macroeconomic environment marked by rising inflation and increased operating costs.

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The company successfully reduced its cost-of-sales margin from 28 per cent in Q1 2024 to 25 per cent in Q1 2025, resulting in a 75 per cent gross profit margin in Q1, 2025.

Transcorp Hotels stated that, “this solid performance highlights the underlying strength of our operations and our ability to deliver value, even in a less favourable macroeconomic environment.”

The MD/CEO of Transcorp Hotels, Uzo Oshogwe explained that “our Q1 2025 results demonstrate the underlying strength of our business and the effectiveness of our strategic focus on driving revenue growth.”

Oshogwe added that, “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.”