Transcorp Hotels Grows Profit by 5% to N15.542bn in 9M 2026
Transcorp Hotels Plc grew profit by about 5% year-on-year to N15.542 billion in the first nine months (9M) of the 2026 financial year, according to its regulatory filing with the Nigerian Exchange (NGX).
The hospitality company delivered N69.464 billion in revenue between January and September 2026, down from N71.304 billion posted in the equivalent period in 2025.
The company reported that its cost of sales decreased to N16.148 billion, 6.41% year-on-year below N17.255 billion reported in the 9M 2025 earnings season.
The breakdown showed that Transcorp reduced its cost of sales associated with rooms, food and beverages, and other costs categorised under its direct operations.
Hence, the hospitality company’s gross profit for 9 months came in at N53.316 billion, down from N54.049 billion in the equivalent period in 2025.
With moderation in other operating income, impairment charges on financial assets, and operating expenses, Transcorp Hotels delivered N24.363 billion in operating income, versus N24.705 billion reported 12 months ago.
The naira stability stoked pressures on Transcorp Hotels’ FX positions. The company recorded a net unrealised FX loss of about N385 million, a sharp increase from N20.683 million FX loss posted in 9M 2025.
Transcorp Hotels reported that its finance costs jumped 103.65% year on year to N5.910 billion for the nine months period captured in its unaudited financial statement, up from N2.9 billion in the equivalent period in 2025.
This was driven by a significant spike in interest on debt, which printed at N5.507 billion, up by 294% year on year from N1.397 billion in the 9M 2025 earnings period. Other finance costs contributed to the surge, offset by a major decline in interest on intercompany loan payables.
As at 30 September 2026, the unaudited consolidated statement of financial position showed current assets exceeded current liabilities. The working capital surplus was primarily driven by related-party receivables within current assets and a significant amount of cash and bank balances.
A cash flow forecast for the next 12 months, prepared by management, indicates that the consolidated entity will have sufficient cash to meet its debts as and when they are due.
Transcorp Hotels Plc’s total assets expanded by more than 29% year on year to N206.819 billion at the end of 9M 2026, from N159.905 billion reported at the end of the equivalent period 12 months ago. Nigerian Equities Market Cap Drops by N543bn to N160.73trn
