Transnational Corporation Plc, Nigeria’s leading listed conglomerate with strategic investments in the power, hospitality, and energy sectors, has announced its unaudited results for the first quarter ended March 31, 2025 with profit soaring to N73,31 billion.
In Q1 2025, it recorded a revenue of N143.7 billion, marking an increase of 62 percent, compared to revenue of N88.5 billion in Q1 2024.
The group made this known in an account released to newsmen on Thursday.
It said this strong performance was driven by the exceptional contributions of its subsidiaries.
The power businesses delivered robust revenue growth of 70 percent year-on-year, reaching N126.8 billion in Q1 2025, up from N74.8 billion in Q1 2024.
Notably, Transafam Power, acquired in November 2020, achieved 212 percent year-on-year revenue growth, from N6.9 billion to N21.4 billion.
Transcorp Hotels delivered a strong performance in Q1 2025, with revenue rising by 52 percent year-on-year to N21.0 billion, up from N13.8 billion in Q1 2024.
Gross profit for the Group soared to N73.31 billion in Q1 2025 from N46.21 billion in Q1 2024.
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The group closed the quarter with a very healthy Profit Before Tax of N49.41 billion compared with N45.68 billion in Q1 2024, which had an exceptional income of N11.0 billion income from the disposal of shares.
This performance, the company said in its report, underscored the strength and resilience “of our business operations and reaffirms our ability to generate sustainable value for our investors”.
Speaking on the result, the President/GCEO of Transcorp Plc, Dr. Owen D. Omogiafo, said: “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.”
Transnational Corporation Plc (Transcorp Group) is one of Africa’s leading, listed conglomerates, with strategic investments in the power, hospitality, and energy sectors, driven by its mission to improve lives and transform Africa.
Transcorp’s power businesses: Transcorp Power Plc and Transafam Power, provide over 20 percent of Nigeria’s installed power capacity.
Transcorp is committed to developing Nigeria’s domestic energy value chain through its investments in OPL281.
The Group’s hospitality business, Transcorp Hotels Plc, owns the iconic Transcorp Hilton Abuja, Nigeria’s flagship hospitality destination, and has launched the digital platform Aura by Transcorp Hotels.
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