Transcorp Hotels Plc has reported a pretax profit of N7.07 billion for the first quarter of 2026, according to its latest financial statement released on the Nigerian Exchange.
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This marks a 14.97% year-on-year increase from the N6.1 billion recorded in Q1 2025, supported by a steady top-line performance and sustained demand across its hospitality operations.
This marks a 14.97% year-on-year increase from the N6.1 billion recorded in Q1 2025, supported by a steady top-line performance and sustained demand across its hospitality operations.
Quarterly revenue rose to N22.4 billion from N20.6 billion in the prior year, driven largely by ‘rooms revenue’ of N15.7 billion, alongside food and beverage sales of N5.5 billion.
Commenting on the results, CEO Uzoamaka Oshogwe said, “Our Q1 2026 performance reflects the strength of a strategy anchored on discipline, operational efficiency, and consistent value creation.”
She added that the company remains focused on maintaining service standards, improving operational performance, and delivering sustainable value to shareholders.
A closer look at Q1 2026 revenue of N22.4 billion shows that, beyond rooms at N15.7 billion and food and beverages at N5.5 billion, other contributors made smaller but notable additions.
However, the cost of sales rose alongside revenue to N5.2 billion from N5.16 billion in Q1 2025, resulting in a gross profit of N17.1 billion in Q1 2026, up from N15.4 billion in the prior year.
After finance costs of N762.2 million, mainly interest on debt, and finance income of N219.7 million were recognised, pretax profit settled at N7.07 billion, up from N6.1 billion.
Income tax expense of N1.4 billion brought profit after tax to N5.6 billion, compared to N5.04 billion previously, with earnings per share rising to 55 kobo from 49 kobo.
On the balance sheet, total assets rose to N165.5 billion from N159.9 billion, with property, plant and equipment of N125.3 billion remaining the largest asset class.
Retained earnings stood at N70.8 billion, down from N77.5 billion in 2025, while total equity settled at N88.7 billion, also lower than the N95.2 billion recorded previously.
On the liabilities side, non-current borrowings of N23 billion, deferred tax liabilities of N18.9 billion, and trade and other payables of N18.6 billion pushed total liabilities to N76.7 billion, up from N64.6 billion in the prior year.
The market is yet to react to the company’s Q1 2026 results, as the stock traded flat a few minutes after the opening session on the Nigerian Exchange.
With a year-to-date performance of 30.66%, the stock may see a clearer price reaction in subsequent trading sessions as investors digest the results.
