Transcorp Hotels Plc has reported a 9 per cent rise in revenue for the first quarter ended March 31, 2026, achieving N22.41 billion compared to N20.64 billion in the same period of 2025. The unaudited financial results, released on Friday, also showed a 15 per cent increase in Profit Before Tax and an improvement in gross profit margins to 77 per cent. The company attributed the growth to sustained demand, operational efficiency, and its strategy of long-term value creation within Africa's hospitality sector.
In a statement, Transcorp Hotels said the results reflect steady progress in executing its growth plans and maintaining high service standards across its operations. The Chief Finance Officer, Oluwatobiloba Ojediran, noted a reduction in cost of sales margin from 25 per cent in Q1 2025 to 23 per cent in Q1 2026, citing tighter cost controls and improved processes. He emphasized the company's focus on balancing cost efficiency with premium service delivery.
Transcorp Hotels Plc, the hospitality subsidiary of Transnational Corporation Plc, operates in Nigeria's luxury hospitality segment and benefits from the parent company's diversified investments in power, energy, and hospitality. The strong performance in the first quarter positions the company to maintain growth momentum and reinforce its leadership in the sector for the remainder of the 2026 financial year.
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