By Transcorp Hotels Plc has reported a profit before tax of N6.157 billion in its unaudited results for the first quarter of 2025, ending March 31. The hotel giant maintained its growth trend despite a tough economic climate, showcasing resilience in its business strategy.
The company recorded a gross profit jump of 59.6%, reaching N15.84 billion from N9.92 billion in Q1 2024. This year’s result came without the one-off N2.9 billion foreign exchange gain recorded in the previous year, yet profit before tax slightly edged up from N6.09 billion to N6.157 billion.
Revenue surged by 52% to N21 billion, up from N13.8 billion in Q1 2024, signaling improved operational efficiency. Transcorp attributed this performance to its strategic investments and consistent focus on delivering long-term shareholder value.
The company also noted a major operational win: reducing its cost-of-sales margin from 28% to 25%, pushing gross profit margins to 75% in the first quarter. “This solid performance highlights the underlying strength of our operations,” the company said in a statement.
According to Managing Director/CEO Uzo Oshogwe, “Our Q1 2025 results demonstrate the underlying strength of our business and the effectiveness of our strategic focus on driving revenue growth.” She emphasized the company’s dedication and the positive results of recent asset additions.
One of the most significant new assets is the Transcorp Centre, a 5,000-capacity event venue, which joins the company’s expanding portfolio, including the iconic Transcorp Hilton Abuja. Oshogwe said these expansions are part of efforts to solidify Transcorp Hotels’ leadership in Africa’s hospitality sector.
