Transcorp Group Delivers N111.4bn PBT in Nine Months of 2026

Transcorp Group reported a profit before tax (PBT) of N111.4 billion for the nine months leading up to September 30, 2026, down from N124.5 billion in the same period last year. The company's total revenue stood at N357.4 billion, compared to N412.4 billion in the previous nine months. The decline in revenue was attributed to reduced power evacuation at Transcorp Power Plc, which was impacted by transmission and gas supply constraints in the industry.

Despite the lower revenue, Transcorp Power Plc managed to increase shareholders' funds by 8.9 percent to N199.8 billion and doubled its cash and cash equivalents to N10.3 billion. Meanwhile, Transcorp Hotels Plc grew its Profit After Tax (PAT) by 5 percent to N15.5 billion, improved its net profit margin to 22.3 percent, and reduced its net finance cost by 36 percent. The company's total assets expanded by 29 percent to N206.8 billion.

Owen Omogiafo, Transnational Corporation's President and Group Chief Executive Officer, highlighted the company's performance, noting that it reflects the strength of its diversified portfolio and its ability to maintain strong profitability and margins in a challenging operating environment. The company remains committed to addressing industry-wide constraints and leveraging its hospitality investments to strengthen Nigeria's position as a destination for business, tourism, and major events.

Festus Izevbizua, the Group Chief Finance Officer, explained that the year-on-year revenue decline was due to power evacuation constraints caused by the vandalism of transmission and gas infrastructure. However, the Group managed to expand its profit-before-tax margin to 31.2 percent, up from 30.2 percent in the prior period, thanks to deliberate cost optimisation and operational efficiency across its businesses.

The company's financial position also improved, with total assets rising by 13 percent to N1.13 trillion, driven by better receivables, investments in financial assets, and stronger cash generation. Total equity increased by 9.7 percent to N387.8 billion, reinforcing the Group's robust capital base.