Transcorp Hotels reports 4.8% rise in nine-month profit

Transcorp Hotels Plc reported a 4.85 percent increase in profit after tax for the nine months ended September 2026, reaching N15.54 billion compared to N14.82 billion in the same period of 2025. This growth was supported by lower tax expenses and higher finance income, despite a 2.58 percent decline in total revenue, which fell to N69.46 billion from N71.30 billion.

Profit before tax saw a marginal increase of 0.55 percent to N22.53 billion. However, the company experienced a decline in operating profit, which fell to N24.36 billion from N24.71 billion. The third quarter specifically showed signs of pressure, with profit after tax dropping 18.6 percent to N5.00 billion and operating expenses rising 30 percent.

Revenue from rooms remained the primary income driver, contributing N46.29 billion, or approximately 66.6 percent of total revenue. Food and beverage revenue also saw a decline, falling 8.32 percent to N19.27 billion. Other revenue streams included event-centre hall rentals and shop rentals, with service-charge and recreation-service revenues showing increases.