Transcorp Group Posts ₦111.4bn Profit Before Tax in Nine Months Despite Industry-wide Constraints

Transnational Corporation Plc (Transcorp Group) has reported a profit before tax of ₦111.4 billion for the nine months ended September 30, 2026, despite industry-wide constraints.

The conglomerate disclosed this in its unaudited financial results for the nine months, which showed revenue of ₦357.4 billion, compared to ₦412.4 billion recorded in the same period last year.

It announced Profit before tax of ₦111.4 billion, compared to ₦124.5 billion in the corresponding period of 2025 while profit after tax fell to ₦75.1 billion from ₦91.4 billion. Earnings per share dropped to 429 kobo from 534 kobo in the previous year.

Despite the decline in earnings, Transcorp Group expanded its profit-before-tax margin to 31.2 per cent from 30.2 per cent, attributing the improvement to cost management and operational efficiency across its businesses.

The company said its lower revenue reflected reduced power evacuation at Transcorp Power Plc, as industry-wide transmission and gas supply constraints limited electricity output during the period.

The Group’s financial position, however, strengthened, with total assets rising to ₦1.13 trillion from ₦1 trillion at the end of December 2025. Total equity increased to ₦387.8 billion from ₦353.4 billion over the same period.
Commenting on the results, President and Group Chief Executive Officer of Transnational Corporation Plc, Owen D. Omogiafo, said: “Our performance reflects the strength of our diversified portfolio and our ability to sustain strong profitability and expand margins in a challenging operating environment.

“We continue to work closely with stakeholders to address industry-wide constraints and improve electricity delivery, while leveraging our hospitality investments to strengthen Nigeria’s position as a destination for business, tourism and major events.”
Omogiafo added that the Group remained committed to identifying growth opportunities and contributing to the Nigerian economy.
“Across our businesses, we remain focused on unlocking opportunities for growth, deepening our contribution to Nigeria’s economy and delivering on our purpose to improve lives and transform Africa,” she said.

The Group Chief Finance Officer, Festus Izevbizua, said the performance reflected the resilience of its underlying businesses, despite operational challenges in the power sector.

“Our nine-month performance underscores the strength and resilience of the Group’s underlying businesses. Year-on-year revenue was impacted by power evacuation constraints arising from vandalisation of transmission and gas infrastructure,” he said.

He added: “Notwithstanding this, the Group expanded its profit-before-tax margin to 31.2%, from 30.2% in the prior period, a direct result of deliberate cost optimisation and operational efficiency across our businesses.”

Izevbizua said the Group’s total assets grew by 13 per cent to ₦1.13 trillion, supported by improved receivables, investments in financial assets and stronger cash generation.

Total equity rose by 9.7 per cent to ₦387.8 billion, while cash and cash equivalents more than doubled to ₦45.9 billion from ₦21.9 billion at the end of December 2025.

According to him, the stronger balance sheet had enhanced the Group’s liquidity and financial flexibility to pursue its strategic priorities.

Across its businesses, Transcorp Power Plc increased shareholders’ funds by 8.9 per cent to ₦199.8 billion and grew cash and cash equivalents more than fourfold to ₦10.3 billion.

Transcorp Hotels Plc recorded a five per cent increase in profit after tax to ₦15.5 billion, expanded its net profit margin to 22.3 per cent and reduced net finance cost by 36 per cent. Its total assets also rose by 29 per cent to ₦206.8 billion.

The hospitality business operates the 670-room Transcorp Hilton Abuja and the 5,000-capacity Transcorp Centre, which the Group described as the country’s largest multipurpose event venue.

Looking ahead, Transcorp Group said it would continue to pursue strategic opportunities across its power, hospitality and energy businesses, leveraging its diversified portfolio and financial strength to support long-term growth and sustainable shareholder value.