Transcorp revenue hits N143.7bn on power, hospitality momentum
Onome Amuge
Owen D. Omogiafo, president/group chief executive officer of Transcorp Plc
Transnational Corporation Plc (Transcorp), the Nigerian conglomerate with interests spanning power, hospitality, and energy, has reported a 62 per cent increase in revenue to N143.7 billion for the first quarter ended March 31, 2025. This compares with N88.5 billion in the same period last year, according to its unaudited results released to the Nigerian Exchange (NGX).
The strong top-line performance was spearheaded by its power subsidiaries, which collectively delivered a 70 per cent year-on-year revenue growth, reaching N126.8 billion in Q1 2025, up from N74.8 billion in Q1 2024.
Notably, Transafam Power, acquired in November 2020, saw an exceptional 212 per cent year-on-year revenue surge, climbing from N6.9 billion to N21.4 billion.
Transcorp Hotels also contributed significantly to the growth, with revenue rising by 52 per cent year-on-year to N21.0bn, up from N13.8bn in Q1 2024, indicating a strong recovery in the hospitality sector.
The group’s profitability also saw its gross profit soar to N73.31 billion in Q1 2025, a substantial increase from N46.21 billion in the corresponding period of 2024.
In addition, profit before tax (PBT) hit N49.41 billion, slightly ahead of the N45.68 billion recorded in Q1 2024, which had benefited from a one-off gain of N11.0 billion from the disposal of shares.
Commenting on the financials, Owen D. Omogiafo, president and group chief executive officer of Transcorp Plc, remarked: “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.”
Transcorp is renowned for its strategic investments in key sectors of the Nigerian economy. Its power businesses, Transcorp Power Plc and Transafam Power, together provide over 20 per cent of Nigeria’s installed power capacity.
The group is also focused on developing Nigeria’s domestic energy value chain through its investments in OPL281.
In the hospitality sector, Transcorp Hotels Plc owns Transcorp Hilton Abuja and recently launched the digital platform Aura by Transcorp Hotels.