Transnational Corporation Plc (Transcorp) has reported a pre-tax profit of ₦75.9 billion for the first half of 2026, for the period ended June 30, 2026.
The figure represents an 11.45 percent decline from the ₦85.7 billion posted in the corresponding period of 2025, according to the company’s unaudited results released this week. Profit after tax came in at ₦54.4 billion, down 16.58 percent from ₦65.2 billion, while earnings per share fell to 323 kobo from 408 kobo.
Group revenue for the half-year stood at ₦241.5 billion, down 13.44 percent from ₦279.0 billion a year earlier. The decline was most pronounced in the second quarter, when pre-tax profit fell more than 30 percent year-on-year to ₦25.2 billion, coming in sharply below what the group posted in the first quarter of the year.
A breakdown by segment showed power remained Transcorp’s largest revenue contributor, though its performance softened, with segment revenue easing to ₦229.0 billion and pre-tax profit slipping to ₦57.7 billion from ₦61.7 billion. Hospitality revenue dipped slightly to ₦44.4 billion, but that segment’s pre-tax profit actually rose, climbing to ₦13.7 billion from ₦12.2 billion.
Interestingly, results for Transcorp Plc as a standalone entity, excluding subsidiaries such as Transcorp Power and Transcorp Hotels, showed pre-tax profit virtually unchanged at ₦30.14 billion, supported largely by higher dividend income from its subsidiaries.
Group Chief Finance Officer Festus Izevbizua said the results reflected the quality of the underlying business and the resilience of the group’s earnings, noting that despite a lower revenue base tied to sector-wide power infrastructure constraints, the group expanded its pre-tax profit margin to 31.4 percent from 30.7 percent in the prior period. He attributed this to disciplined cost optimisation and operational efficiency across the business.
On the balance sheet, total assets rose 9.70 percent to ₦1.10 trillion, though a large share of that growth came from higher trade receivables rather than cash. Total borrowings climbed 54.59 percent, with long-term debt more than tripling, while total equity rose to ₦367.8 billion, supported by growth in retained earnings.
Transcorp declared an interim dividend of 40 kobo per share. The company’s shares closed at ₦41.40 on Wednesday, July 22, down 8.81 percent from where they opened the year, ranking 112th on the Nigerian Exchange by year-to-date performance.
