Transcorp Hotels’ nine-month profit rises 5% despite revenue decline
Transcorp Hotels Plc reported a 4.8 percent increase in profit for the nine months ended September 2026, supported by lower
Transcorp Hotels Plc reported a profit before tax of N22.53 billion for the nine months ending September 2026, marking a slight 0.55% increase compared to N22.40 billion in the same period last year. This information, contained in the company's unaudited consolidated financial statements, was released on the Nigerian Exchange (NGX).
The third quarter saw a profit before tax of N8.83 billion, a 13.18% decrease from N10.18 billion a year prior. Revenue and operating profit experienced declines across various categories, despite increases in service-charge and recreation-service revenues. The company's asset base grew to N206.82 billion, while net cash used in investing activities amounted to N5.92 billion.
Shareholders saw a significant rise in share price, increasing by 76.49% to N290.50 at the close of trading on October 16, 2026.
Written by urgent.news from Nairametrics's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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