Transcorp Hotels Plc has kicked off 2025 with an impressive financial performance, reporting a 52% year-on-year increase in revenue to ₦21 billion for the first quarter ended March 31, 2025—up from ₦13.8 billion in the same period of 2024. The hospitality giant, a subsidiary of Transnational Corporation Plc (Transcorp Group), attributes this surge to improved market share and enhanced operational efficiency.
According to the unaudited financial results released on the Nigerian Exchange (NGX), the company’s gross profit jumped by 59.6%, rising from ₦9.92 billion to ₦15.84 billion, with a 75% gross profit margin. This was achieved despite macroeconomic pressures such as rising inflation and higher operating costs.
Transcorp Hotels further improved its cost of sales margin, which dropped from 28% in Q1 2024 to 25% in Q1 2025, underscoring better cost control and operational performance.
Profit before tax stood at ₦6.16 billion, slightly above the ₦6.09 billion recorded in the first quarter of 2024. Importantly, this was achieved without the ₦2.9 billion foreign exchange gain that had boosted profits in the previous year—highlighting the company’s ability to sustain profitability on the strength of its core operations.
Managing Director and CEO of Transcorp Hotels, Uzo Oshogwe, expressed confidence in the company’s strategic direction, pointing to recent investments that have begun yielding returns. “Our Q1 2025 results demonstrate the underlying strength of our business and the effectiveness of our strategic focus on driving revenue growth,” she said.
She noted that the completion of the new Transcorp Centre, a 5,000-capacity event venue, marks a significant addition to the company’s asset portfolio, which already includes the iconic Transcorp Hilton Abuja. The new facility is expected to unlock additional revenue streams and position the company to capture a greater share of Nigeria’s growing events and hospitality market.
“We achieved this strong performance despite a challenging macroeconomic environment. The significant increase in revenue and profit margin growth are clear indicators of our team’s dedication and the resilience of our operations,” Oshogwe added.
Transcorp Hotels said it remains committed to delivering long-term value for shareholders and strengthening its leadership in the African hospitality sector, leveraging innovation, scale, and world-class customer service.
