Transcorp Hotel Grows Profit Before Tax by 0.55% in Q3
Kayode Tokede Despite a drop in revenue, Transcorp Hotels Plc has announced a profit before tax of N22.53 billion, for the third quarter ended September 30, 2026, a growth of 0.55 per cent from N22.4 billion
Transcorp Hotels Plc reported a modest 0.55% increase in profit before tax to N22.53 billion for Q3 2026, following a slight decline in revenue. The company's revenue dropped 2.66% to N69.46 billion, compared to N71.3 billion in the same quarter the previous year. Room revenue, the largest contributor, amounted to N46.29 billion, or about 66.6% of total revenue, down from N46.65 billion a year earlier.
Food and beverage revenue also declined to N19.27 billion, a 8.32% decrease, making up 27.7% of total revenue. Event center hall rental revenue decreased to N981.52 million, while shop rental revenue remained relatively flat at N1.36 billion. The company's finance income saw a significant increase of 756.2% to N4.46 billion, driven by a substantial rise in interest on intercompany loan receivables to N4.2 billion.
Total assets grew to N206.82 billion, with current trade and other receivables expanding to N50.53 billion and cash balances reaching N20.34 billion, a 19.94% increase from the previous year. The Managing Director and CEO, Uzoamaka Oshogwe, attributed the company's success to disciplined operational efficiency, strong cost management, and a dedicated team focused on service excellence.
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