Transcorp's Profit Drops to N111.39 Billion in 2026

Transnational Corporation Plc (Transcorp) reported a pre-tax profit of N111.39 billion for the nine months ended September 30, 2026, reflecting a 10.54% decline from N124.52 billion in the same period of 2025. Profit after tax decreased by 17.85% to N75.09 billion from N91.41 billion.

The decline in profit is attributed to a 13.35% drop in revenue to N357.38 billion from N412.43 billion, mainly due to reduced contributions from its power and hospitality businesses. The power segment remains the largest operating segment for the group.

Revenue from the hospitality sector also fell, with room revenue decreasing to N46.29 billion from N47.04 billion and food and beverage revenue down to N19.27 billion from N21.02 billion. Despite a 9.94% decrease in cost of sales, gross profit fell by 17.12% to N162.11 billion.

Operating profit declined by 8.82% to N125.57 billion. Total assets increased to N1.13 trillion, while total borrowings rose to N131.82 billion.