Q3 2026: Transcorp Hotels Widens Margins, Grows Profit Before Tax to ₦22.5bn

Transcorp Hotels Plc (NGX: TRANSCOHOT), the hospitality subsidiary of Transnational Corporation Plc (Transcorp Group), has announced its unaudited financial results for the third quarter ended September 30, 2026, reporting a profit before tax (PBT) of ₦22.5 billion, up 1 per cent from ₦22.4 billion recorded in the corresponding period of 2025.

Profit after tax (PAT) grew by 5 per cent to ₦15.5 billion, compared with ₦14.8 billion in the previous year.

Revenue stood at ₦69.5 billion, representing a 3 per cent year-on-year decline from ₦71.3 billion recorded in the corresponding period of 2025.

Administrative expenses fell by 2 per cent to ₦29.3 billion from ₦29.9 billion, reflecting continued cost optimisation, while net finance cost declined by 35 per cent to ₦1.5 billion from ₦2.3 billion.

Total assets rose by 29 per cent to ₦206.8 billion from ₦159.9 billion as of December 2025, while shareholders’ funds grew to ₦97.5 billion.

The company said the results reflected its ability to sustain profitability and strengthen its financial position through disciplined execution, effective resource management and a continued commitment to delivering hospitality services.

Managing Director and Chief Executive Officer of Transcorp Hotels Plc, Uzoamaka Oshogwe, said the third-quarter performance demonstrated the company’s earnings discipline, noting that it grew profit after tax by 5 per cent despite a 3 per cent decline in revenue.

“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,” she said.

Oshogwe said the company was directing capital towards opportunities across its hospitality, events and lifestyle businesses, with investments assessed against 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,” she added.

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 finance costs and controlled administrative expenses.

He said net finance cost declined by 35 per cent to ₦1.5 billion, representing about 2 per cent of revenue, compared with more than 3 per cent a year earlier, while administrative expenses remained below the previous year’s level.

Ojediran added that the growth in total assets to ₦206.8 billion and shareholders’ funds of ₦97.5 billion reflected the company’s expanding balance sheet.

He said the company was managing its liabilities and funding costs while maintaining a prudent capital structure to ensure that future growth was supported by sustainable financing and clear investment-return thresholds.

Transcorp Hotels said it continued to strengthen its hospitality and lifestyle portfolio, with Transcorp Hilton Abuja serving business and leisure travellers.

Transcorp Centre, the company’s 5,000-seat event and conference venue, also continues to support Abuja’s position as a destination for major corporate, cultural and social events.