Transcorp Hotels Plc, the hospitality subsidiary of Transnational Corporation Plc and a listed company on the Nigerian Exchange, has published its unaudited financial results for the third quarter ended September 30, 2026. The figures show that the group converted softer revenue into stronger profitability, supported by lower operating and financing costs.
Profit before tax rose marginally by 1 percent year on year to ₦22.5 billion, from ₦22.4 billion in the corresponding period of 2025. Profit after tax increased 5 percent to ₦15.5 billion, compared with ₦14.8 billion a year earlier. Based on the reported figures, the implied tax charge for the period stood at approximately ₦7.0 billion. The company said its net profit margin expanded to 22.3 percent.
Revenue, however, fell 3 percent to ₦69.5 billion from ₦71.3 billion in the prior-year period. Administrative expenses moderated by 2 percent to ₦29.3 billion from ₦29.9 billion, pointing to sustained cost control. Net finance costs dropped sharply by 35 percent to ₦1.5 billion from ₦2.3 billion, which management tied to lower funding costs and improved financial efficiency.
The balance sheet showed notable expansion. Total assets grew 29 percent to ₦206.8 billion, up from ₦159.9 billion as of December 2025, while shareholders' funds rose to ₦97.5 billion.
Managing Director and Chief Executive Officer Uzoamaka Oshogwe said the performance demonstrated earnings discipline. Despite the revenue decline, she noted, the company grew profit after tax by 5 percent and widened its net profit margin. She added that capital is being deployed to high-potential opportunities across the hospitality, events and lifestyle portfolio, with every investment measured against clear financial and return benchmarks. Priorities for the rest of the year, she said, include sustaining margin growth, deepening guest and client engagement, and positioning the business to maximise returns as demand strengthens.
Chief Finance Officer Oluwatobiloba Ojediran said the quality of earnings improved during the period. He pointed out that net finance cost eased to about 2 percent of revenue, compared with more than 3 percent a year ago, while administrative expenses were held below prior-year levels. He added that the company is actively managing liabilities and funding costs, keeping its capital structure prudent and ensuring future growth is backed by sustainable capital sources and clear return thresholds.
