Transcorp Hotels Reports N15.5bn Profit Amid Revenue Drop

Transcorp Hotels Plc has announced a 5% increase in profit after tax to N15.5 billion for the nine months ending September 30, 2026. This increase occurred despite a 3% year-on-year decline in revenue, which fell to N69.5 billion from N71.3 billion in the same period of 2025.

The company's profit before tax rose marginally by 1% to N22.5 billion, compared to N22.4 billion in the corresponding period of 2025. The improved bottom line was attributed to cost discipline and better financial efficiency, which helped offset the revenue decline.

Administrative expenses decreased by 2% to N29.3 billion from N29.9 billion, while net finance costs fell sharply by 35% to N1.5 billion from N2.3 billion. Total assets increased by 29% to N206.8 billion from N159.9 billion as of December 2025, and shareholders’ funds grew to N97.5 billion.

The results reflect the company's ability to maintain profitability and strengthen its balance sheet amid a challenging operating environment.