Q3 2026: Transcorp Hotels Plc widens, grows profit before tax to N22.5bn

Transcorp Hotels Plc, the hospitality subsidiary of Transnational Corporation Plc  (Transcorp Group), has announced its unaudited financial results for the third quarter ended September 30, 2026.  

The Company recorded Profit Before Tax (PBT) of ₦22.5 billion, up 1% from  ₦22.4 billion in the corresponding period of 2025, while Profit After Tax (PAT) grew 5% to ₦15.5 billion, up from ₦14.8 billion in the previous year. 

Key highlights:

• Revenue stood at ₦69.5 billion, compared to ₦71.3 billion in the corresponding period of 2025, representing a 3% year-on-year decline.

• Profit Before Tax increased to ₦22.5 billion from ₦22.4 billion, representing a 1% year-on-year growth.

• Profit After Tax rose by 5% to ₦15.5 billion, compared to ₦14.8 billion in the corresponding period last year.

• Administrative Expenses moderated by 2% to ₦29.3 billion from ₦29.9 billion, reflecting continued cost optimisation.

• Net Finance Cost reduced significantly by 35% to ₦1.5 billion from ₦2.3 billion, demonstrating improved financial efficiency.

• Total Assets rose by 29% to ₦206.8 billion from ₦159.9 billion as of December 2025, while shareholders’ funds grew to ₦97.5 billion.

The results demonstrate Transcorp Hotels’ ability to sustain profitability and strengthen its financial position through disciplined execution, effective resource management, and a continued commitment to delivering exceptional hospitality experiences. 

Speaking on the results, Managing Director/CEO, Transcorp Hotels Plc, Uzoamaka Oshogwe, commented: “Our Q3 performance demonstrates the strength of our earnings discipline. 

“Despite a 3% year-on-year decline in revenue, we grew profit after tax by 5% and expanded our net profit margin to 22.3%. We are converting revenue into stronger profits, protecting margins, and building a more resilient business. 

“We are deploying capital decisively to the highest potential opportunities across our hospitality, events and lifestyle portfolio, with every investment held to clear financial and return benchmarks.

“As we close the year, our priorities remain clear: sustain margin growth, deepen guest and client engagement, and position the business to maximise returns as demand strengthens. We remain focused on profitable growth, disciplined execution, and long-term value creation.” 

Chief Finance Officer, Transcorp Hotels Plc, Oluwatobiloba Ojediran, added: “The quality of our earnings improved in the period. Net finance cost eased by 35% to ₦1.5 billion, representing about 2% of revenue, compared with more than 3% a year ago, while administrative expenses were held below prior-year levels. 

“Our total assets have grown by 29% to ₦206.8 billion, and shareholders’ funds stand at ₦97.5 billion. As the balance sheet scales, we are actively managing our liabilities and funding costs, keeping our capital structure prudent, and making sure that future growth is backed by sustainable sources of capital and clear return thresholds.”