Despite decline in revenue, Transcorp Hotel grows before tax by 0.55% in Q3 2026
Despite a drop in revenue, Transcorp Hotels Plc has announced its unaudited third quarter (Q3) ended September 30, 2026 with profit before tax at N22.53 billion, a growth of 0.55 per cent from N22.4 billion reported in the third quarter (Q3) ended September 30, 2025.
The company posted N69.46 billion revenue in Q3 2026, a 2.66 per cent drop from N71.3 billion reported in Q3 2025.
One of the subsidiaries of Transcorp Incorporated listed on the Nigerian Exchange Limited (NGX) declared N15.5 billion in Q3 2026, about 4.8 per cent increase over N14.8 billion reported in Q3 2025.
In the period under review, the company’s finance income stood at N4.46 billion, a growth of 756.2 per cent from N520.68 million in the corresponding period,
The breakdown of finance income showed that interest on bank deposits closed Q3 2026 at N269.89million from N18.1million in Q3 2025, while interest on intercompany loan receivables moved significantly from N502.6 million in Q3 2025 to N4.2 billion in Q3 2026.
The growth in profit was also driven by cost of sales that dropped to N16.15 billion in Q3 2026, a decline of 6.4 per cent from N17.3 billion reported in Q3 2026.
While commenting on the company’s 2025FY performance, the Managing Director/CEO, Transcorp Hotels, Uzoamaka Oshogwe, said, “Our success results from disciplined operational efficiency, strong cost management, and most importantly, our exceptional team’s commitment to service excellence.”
“Guided by a bold, future-focused vision, we continue to invest in transformative infrastructure, notably the 5,000-seat world-class Transcorp Centre, positioning Nigeria as a premier global convening destination for high-profile events, including the Afreximbank Annual Meetings, ECOWAS Summits and many more. Looking ahead, we will continue to innovate and leverage cutting-edge technology to strengthen our brand and redefine hospitality standards across Africa.”
