Business
Transcorp Group releases unaudited results for Q1, profit soars to N73.31bn
Transnational Corporation Plc (NGX: Transcorp), Nigeria’s leading listed conglomerate with investments in the power, hospitality, and energy sectors, has released its unaudited financial results for the first quarter ended March 31, 2025, reporting a robust performance across key indicators.
The group recorded a 62% increase in revenue, rising to N143.7 billion in Q1 2025 from N88.5 billion in the same period of 2024. This strong topline performance was largely driven by impressive contributions from its subsidiaries in the power and hospitality sectors.
Transcorp’s power businesses posted a 70% year-on-year revenue increase, generating N126.8 billion in Q1 2025, up from N74.8 billion in Q1 2024. Notably, Transafam Power, acquired in November 2020, achieved a remarkable 212% revenue growth, rising from N6.9 billion to N21.4 billion.
The group’s hospitality arm, Transcorp Hotels, also delivered strong results, with revenue increasing by 52% year-on-year to N21 billion, compared to N13.8 billion in Q1 2024.
Gross profit for the group surged to N73.31 billion in Q1 2025, up from N46.21 billion in the corresponding period last year. Profit before tax (PBT) stood at N49.41 billion, a modest rise from N45.68 billion in Q1 2024, which had included a one-off income of N11 billion from the disposal of shares.
Transcorp’s President and Group CEO, Dr. Owen D. Omogiafo, OON, attributed the strong results to disciplined execution and a resilient business model. “Our Q1 2025 financial results underscore the strength of our execution, resilient business model, and unwavering commitment to delivering sustained value to our shareholders, even in a challenging market landscape,” she said.
Transnational Corporation Plc is one of Africa’s prominent listed conglomerates, committed to improving lives and transforming the continent through strategic investments. Its power subsidiaries, Transcorp Power Plc and Transafam Power, collectively provide over 20% of Nigeria’s installed power capacity.
In the energy sector, the group is expanding domestic participation through its investment in OPL 281. Its hospitality portfolio includes the iconic Transcorp Hilton Abuja, while its digital hospitality platform, Aura by Transcorp Hotels, continues to gain traction in Nigeria’s leisure and business travel market.
For more information, visit www.transcorpgroup.com.
