Transcorp Hotels Posts N6.16bn Pre-Tax Q1 Profit

Transcorp Hotels Plc has reported a profit before tax of N6.16 billion in its unaudited financial results for the first quarter ended March 31, 2025.

The hospitality company, listed on the Nigerian Exchange Limited (NGX), maintained its upward momentum by recording a 59.6% rise in gross profit to N15.84 billion, compared to N9.92 billion in Q1 2024. Despite the absence of a one-off foreign exchange gain of N2.9 billion recorded in the previous year, pre-tax profit still rose slightly from N6.09 billion in Q1 2024.

Revenue surged by 52% to N21 billion from N13.8 billion last year, reflecting robust operational performance. The company also improved its gross profit margin to 75% by reducing its cost-of-sales margin from 28% in Q1 2024 to 25% in Q1 2025.

Commenting on the results, Managing Director/CEO Uzo Oshogwe said: “Our Q1 2025 results highlight the strength of our operations and strategic focus on revenue growth.”

She noted that the opening of the new 5,000-capacity Transcorp Centre will enhance revenue generation and further cement the group’s leadership in Nigeria’s hospitality sector.

“Despite economic headwinds, we continue to deliver value and drive long-term shareholder returns,” Oshogwe added.