Transcorp Hotels’ Q3 profit after tax rises to ₦15.5bn

Transcorp Hotels Plc reported a 5 per cent increase in profit after tax to ₦15.5 billion for the third quarter ended September 30, 2026, up from ₦14.8 billion in the corresponding period of 2025.

Transnational Corporation Plc’s hospitality subsidiary disclosed this in its unaudited financial results for the period.

Profits before tax rose marginally by 1% to ₦22.5 billion from ₦22.4 billion in the same period last year, despite a 3% decline in revenue to ₦69.5 billion from ₦71.3 billion.

The company attributed its performance to disciplined execution, cost optimisation and improved financial efficiency.

Administrative expenses fell by 2 per cent to ₦29.3 billion from ₦29.9 billion, while net finance cost fell 35 per cent to ₦1.5 billion from ₦2.3 billion.

Transcorp Hotels’ total assets increased by 29 per cent to ₦206.8 billion from ₦159.9 billion as of December 2025, while shareholders’ funds stood at ₦97.5 billion.

Commenting on the results, the Managing Director and Chief Executive Officer, Uzoamaka Oshogwe, said the company had strengthened its earnings despite the decline in revenue.

“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,” she said.

Oshogwe said the company was directing capital towards opportunities with strong growth potential across its hospitality, events and lifestyle portfolio, with investments assessed against clear financial and return benchmarks.

She added that the company’s priorities for the remainder of the year included sustaining margin growth, deepening engagement with guests and clients, and positioning the business to maximise returns as demand strengthened.

The Chief Finance Officer, Oluwatobiloba Ojediran, said the quality of the company’s earnings had improved during the period, citing lower financing costs and tighter control of administrative expenses.

“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,” he said.

Ojediran added that the company was managing its liabilities and funding costs while maintaining a prudent capital structure to ensure sustainable financing and clear investment-return thresholds to support future growth.

Transcorp Hotels said it would continue to develop its hospitality and lifestyle portfolio, with Transcorp Hilton Abuja serving business and leisure travellers.

Its 5,000-seat Transcorp Centre is also expected to strengthen Abuja’s position as a destination for major corporate, cultural and social events.