Transcorp Hotels Plc, the hospitality subsidiary of Transnational Corporation Plc, has announced its unaudited results for the first quarter ended March 31, 2025.
The unaudited results for the first quarter ended March 31, 2025 was announced to the media via a statement issued on Tuesday.
Key highlights of the unaudited results showed that the firm recorded strong growth in revenue.
Transcorp Hotels recorded an impressive Y-o-Y revenue growth of 52 percent from N13.8 billion in Q1 2024 to N21.0 billion in Q1 2025.
The company said the strong growth reflected enhanced operational performance.
According to the firm, with the recent completion of a new event centre, it 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 Plc achieved a notable improvement in gross profit margin in Q1 2025 despite a challenging macroeconomic environment marked by rising inflation and increased operating costs.
The company successfully reduced its cost of sales margin from 28 percent in Q1 2024 to 25 percent in Q1 2025, resulting in a 75 percent gross profit margin in Q1 2025.
Transcorp Hotels Plc sustained its profit momentum in Q1 2025, growing gross profit by 59.6 percent to N15.84 billion from N9.92 billion of the preceding year.
It also delivered a strong Profit Before Tax of N6.16 billion compared with N6.09 billion of the previous yea.
This was without the exceptional N2.9 billion FX gain recorded in the prior year.
The company said: “This solid performance highlights the underlying strength of our operations and our ability to deliver value, even in a less favourable macroeconomic environment.”
Speaking on the unaudited results, Transcorp Plc MD/CEO, Uzo Oshogwe, said: “Our Q1 2025 results demonstrate the underlying strength of our business and the effectiveness of our strategic focus on driving revenue growth.
“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.”
Transcorp Hotels Plc is the hospitality subsidiary of Transnational Corporation Plc (Transcorp Group), one of Africa’s leading listed companies with strategic investments in the power, hospitality, and energy sectors.
Transcorp Hotels is redefining hospitality standards in Africa through its businesses, including the iconic Transcorp Hilton Abuja, Nigeria’s flagship hospitality destination, and digital platform, Aura by Transcorp Hotels.
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