Transcorp Hotels Widens Margins, Grows Profit to N22.5bn in Q3
Transcorp Hotels Plc has reported a profit before tax of ₦22.5 billion for the third quarter ended 30 September 2026, representing a 1% increase from ₦22.4 billion recorded in the corresponding period of 2025.
The hospitality subsidiary of Transnational Corporation Plc also grew its profit after tax by 5% to ₦15.5 billion, compared with ₦14.8 billion in the same period last year.
According to the company’s unaudited financial results, revenue declined by 3% year-on-year, from ₦71.3 billion to ₦69.5 billion.
Despite the decline, Transcorp Hotels expanded its net profit margin to 22.3%, supported by lower administrative expenses and finance costs.
The Q3 unaudited results revealed that administrative expenses fell by 2% to ₦29.3 billion from ₦29.9 billion, reflecting the company’s continued focus on cost optimisation.
The hospitality company’s net finance costs declined by 35% to ₦1.5 billion, compared with ₦2.3 billion in the corresponding period of 2025.
The company’s total assets rose by 29% to ₦206.8 billion, from ₦159.9 billion as of December 2025, while shareholders’ funds stood at ₦97.5 billion.
Commenting on the results, the Managing Director and Chief Executive Officer of Transcorp Hotels Plc, Uzoamaka Oshogwe, said the performance demonstrated the strength of the company’s earnings discipline.
“Our Q3 performance demonstrates the strength of our earnings discipline. Despite a 3% year-on-year decline in revenue, we grew profit after tax by 5% and expanded our net profit margin to 22.3%. We are converting revenue into stronger profits, protecting margins, and building a more resilient business.
“We are deploying capital decisively to the highest potential opportunities across our hospitality, events and lifestyle portfolio, with every investment held to clear financial and return benchmarks.
“As we close the year, our priorities remain clear: sustain margin growth, deepen guest and client engagement, and position the business to maximise returns as demand strengthens. We remain focused on profitable growth, disciplined execution, and long-term value creation.”
The Chief Finance Officer of Transcorp Hotels Plc, Oluwatobiloba Ojediran, said the quality of the company’s earnings improved during the period, supported by lower financing and administrative costs.
“The quality of our earnings improved in the period. Net finance cost eased by 35% to ₦1.5 billion, representing about 2% of revenue, compared with more than 3% a year ago, while administrative expenses were held below prior-year levels.
“Our total assets have grown by 29% to ₦206.8 billion, and shareholders’ funds stand at ₦97.5 billion. As the balance sheet scales, we are actively managing our liabilities and funding costs, keeping our capital structure prudent, and making sure that future growth is backed by sustainable sources of capital and clear return thresholds.”
Transcorp Hotels said it would continue to expand its hospitality and lifestyle portfolio. Its flagship property, Transcorp Hilton Abuja, remains a major destination for business and leisure travellers.
The company also operates the Transcorp Centre, a 5,000-seat event and conference venue intended to strengthen Abuja’s position as a destination for major corporate, cultural and social events. Nigeria’s 10-Year U.S. Dollar Bond Yield Falls 6 bps
