Transcorp Hotels Profit Rises to N5.046bn in Q1
Transcorp Hotels Plc grew profit by about 0.6% year on year to N5.046 billion in the first quarter of 2025, its unaudited financial statement submitted on the Nigerian Exchange revealed.
Details from the results showed that profit rose minisculely by about 0.6% in 12 months to close at N5.046 billion compared with N5.016 billion in the comparable period in Q1-2024.
The hospitality company reported a spike in revenue, up by 52.2% year on year from N13.80 billion in Q1-2024 to N21.005 billion at the end of Q1-2025. The top line was boosted by fresh investment in a new event centre.
Within 12 months, the Hotels costs of sales grew by 32.25% to close at N5.166 billion in Q1-2025 from N3.906 billion in the comparable period. Hence, gross profit rose by 29.38% year on year to N15.839 billion in Q1-2025, from N9.923 billion in the equivalent period last year.
This year, Transcorp Hotels earned less from other operating income, driven by a sharp drop in its unrealised foreign exchange gain—which turned negative from N2.882 billion in Q1 2024. Transcorp Hotels also saw a sharp drop in net gain realised from asset and equipment disposal.
This caused the hospitality company’s operating income to fall slightly year on year to N6.897 billion in Q1-2025 from N6.909 billion in the equivalent period in 2024. With mild ease on net finance costs pressure, pretax profit climbed to N6.156 billion in Q1, from N6.085 billion in the comparable period last year.
But tax expenses also climbed to N1.110 billion in Q1 from N1.068 billion, leaving net income at N5.046 billion, up by 0.5980% from N5.016 billion 12 months ago. #Transcorp Hotels Grows Profit by 0.6% in Q1# Oil Prices Fall as China-US Trade Talks Dangle
