Transcorp Hotels Plc has recorded a 5 per cent increase in profit after tax, in the first nine months of 2026. The company which recently revealed that it had grown to N15.5 billion in profit after tax for the period ended September 30, 2026, adding that lower borrowing costs and slightly lower running costs helped cushion the drop in sales.
Revenue declined 3 per cent to N69.5 billion from N71.3 billion a year earlier, according to the company’s unaudited results released on Monday while profit before tax edged up from N22.4 billion to N22.5 billion.
Net finance costs, essentially the cost of borrowing, fell 35 per cent to N1.5 billion from N2.3 billion. Administrative expenses dropped 2 per cent to N29.3 billion from N29.9 billion. Net finance costs now take up about 2 per cent of revenue, down from more than 3 per cent a year earlier.
The company’s net profit margin improved to 22.3 per cent, meaning it kept about 22 kobo as profit from every N1 it earned.
Managing Director and Chief Executive Officer Uzoamaka Oshogwe said the company remains focused on protecting margins and putting its money where returns look strongest. Chief Financial Officer Oluwatobiloba Ojediran further explained that lower finance costs and controlled spending improved the quality of earnings.
Total assets rose 29 per cent to N206.8 billion from N159.9 billion at the end of December 2025, while shareholders’ funds stood at N97.5 billion. Management said it is keeping an eye on its debts and funding costs to ensure growth plans are financed sustainably.
The company which runs Transcorp Hilton Abuja and Transcorp Centre, a 5,000-seat events and conference venue in the capital, says it is investing across its hotel, events and lifestyle businesses, subject to return targets.
Sales were also lower in the first half, when revenue fell to N44.4 billion from N46.9 billion even as profit after tax rose 21 per cent to N10.5 billion. With sales down, the gains came from cost control rather than higher income.
Transcorp Hotels is a subsidiary of Transnational Corporation Plc, a listed Nigerian conglomerate with interests in hospitality, power and energy.
