Transcorp posts 39% revenue surge as power business drives growth

Transnational Corporation Plc (Transcorp) has reported a 39 per cent year-on-year increase in revenue to N413.44 billion for the nine months ended September 30, 2025, up from N297.66 billion in the same period of 2024.

Group President/CEO, Dr. Owen Omogiafo, disclosed this during an investor conference call on Tuesday, attributing the growth to strong performance in the conglomerate’s power and hospitality businesses despite challenging economic conditions.

Profit before tax rose 18 per cent to N124.5 billion from N105 billion, while profit after tax increased 20 per cent to N91.41 billion compared to N76 billion recorded in the corresponding period last year.

Omogiafo said the results highlight the strength and resilience of Transcorp’s diversified portfolio.

“We remain committed to our purpose of improving lives and transforming Africa, while delivering long-term value to our shareholders,” she said, noting that the Group surpassed its four-year cumulative revenue target within just nine months.

Group Chief Financial Officer, Festus Izevbizua, reported that total assets increased by 25 per cent to N941 billion from N752 billion as at the end of 2024, while shareholders’ funds rose by 14 per cent to N309 billion.

He noted that the business delivered under difficult macroeconomic conditions, including inflationary pressures and currency volatility. Inflation eased to 18.02 per cent in September 2025 from 34.8 per cent in December 2024 after the rebasing of the Consumer Price Index.

He added that Nigeria’s GDP growth is now projected at 3.9 per cent for end-2025, up from an earlier 3.0 per cent forecast, driven by improving investor sentiment.

The power subsidiary remained the Group’s growth engine, contributing N341.1 billion in revenue and N93.2 billion profit before tax in the nine-month period, surpassing its full-year 2024 performance.

Transcorp Power Plc recorded a 38 per cent rise in revenue to N308.54 billion, driven by improved generation output, which increased from an average of 341MW in 2024 to 420MW in 2025.