By Damilare Adeleye
Transcorp Hotels Plc has reported a strong start to 2026, recording revenue of N22.41 billion, up from N20.64 billion in the corresponding period of 2025.
It is understood that this represents a 9 per cent increase in revenue and a 15 per cent rise in profit before tax, underscoring improved operational efficiency and cost discipline.
This was disclosed in its unaudited results for the first quarter ended March 31, 2026, released on Thursday.
Profit before tax rose to N7.08 billion, compared to N6.18 billion a year earlier.
The company also reported an improvement in gross profit margin to 77 per cent from 75 per cent in Q1 2025, while cost of sales margin declined to 23 per cent from 25 per cent, reflecting gains from cost optimisation strategies.
According to a statement signed by the group company secretary, Atinuke Kolade, management attributed the performance to sustained focus on operational excellence and customer-centric innovation.
“Our Q1 2026 performance underscores the strength of a strategy anchored on discipline, operational efficiency, and consistent value creation. The 15% growth in Profit Before Tax, alongside the improvement in gross profit margin to 77%, reflects the resilience of our fundamentals and the deliberate execution of our growth agenda. Transcorp Hotels is not only growing; we are setting new benchmarks for world-class hospitality in Africa and remain committed to continuously elevating that standard,” the Managing Director/Chief Executive Officer, Uzoamaka Oshogwe, was quoted as saying.
Speaking on the financial performance, Chief Finance Officer, Oluwatobiloba Ojediran, noted that the company maintained efficiency without compromising service quality.
He said: “These results reflect a clear and compelling story of a team deeply committed to operational efficiency and cost management without compromising our service standard. In Q1 2026, we achieved revenue of N22.41 billion, a 9% growth from the N20.64 billion in Q1 2025, while effectively reducing our cost of sales margin from 25% in Q1 2025 to 23% in Q1 2026. This demonstrates the impact of disciplined execution across all areas of the business.”
The company said the results reinforce its position in Nigeria’s hospitality sector, driven by efficiency gains and a focus on delivering premium service experiences.
Transcorp Hotels Plc is a subsidiary of Transnational Corporation Plc, with flagship assets including the Transcorp Hilton Abuja and its digital hospitality platform, Aura.