Transcorp Hotels Plc has reported a profit earlier than tax of N22.53 billion for the 9 months ended September 2026.
This marks a marginal 0.55% enhance from N22.40 billion in the corresponding interval of 2025.
The result’s contained in the corporate’s unaudited consolidated and separate monetary statements for the interval ended September 30, 2026 launched on the Nigerian Exchange (NGX).
For the third quarter, profit earlier than tax fell to N8.83 billion from N10.18 billion a 12 months earlier.
(*9*)Key Highlights
- Revenue: N69.46 billion (Down 2.58% YoY from N71.30 billion).
- Gross profit: N53.32 billion (Down 1.36% YoY from N54.05 billion).
- Operating profit: N24.36 billion (Down 1.38% YoY from N24.71 billion).
- Profit earlier than tax: N22.53 billion (Up 0.55% YoY from N22.40 billion).
- Profit after tax: N15.54 billion (Up 4.85% YoY from N14.82 billion).
- Basic earnings per share: 152 kobo (Up 4.83% from 145 kobo).
(*9*)Driving the numbers
Transcorp Hotels’ nine-month outcomes present a slight decline in income and working profit.
- Revenue fell 2.58% 12 months on 12 months to N69.46 billion, whereas working profit declined by 1.38% to N24.36 billion. However, decrease tax expense helped raise profit after tax by 4.85% to N15.54 billion.
- The firm’s working phase, hospitality, with its operations situated in Nigeria. Room income remained the biggest contributor, producing N46.29 billion, equal to roughly 66.6% of complete income. This was down from N46.65 billion a 12 months earlier.
- Food and beverage income declined to N19.27 billion from N21.02 billion, a lower of roughly 8.32%. It accounted for about 27.7% of complete income.
- Event-centre corridor rental income fell to N981.52 million from N1.15 billion, whereas store rental income was broadly flat at N1.36 billion.
Other classes recorded combined efficiency. Service-charge income elevated to N690.64 million from N396.82 million, whereas recreation-service income rose to N443.25 million from N312.46 million. These will increase weren’t adequate to offset the declines in the bigger room and food-and-beverage classes.
- The price construction reveals some enchancment in direct and working bills. Cost of gross sales declined to N16.15 billion from N17.26 billion, serving to gross profit margin enhance to roughly 76.8% from 75.8%. Operating bills additionally decreased to N29.32 billion from N29.86 billion.
- Within working bills, worker prices declined to N4.46 billion from N4.55 billion, power prices fell to N3.57 billion from N3.87 billion, and repairs and upkeep bills decreased to N2.06 billion from N2.99 billion. However, depreciation rose to N3.45 billion from N2.41 billion, whereas credit-card assortment costs elevated to N1.04 billion from N884.96 million. Management charges declined to N7.62 billion from N8.03 billion.
- Finance prices had been a big stress level. They elevated to N5.91 billion from N2.80 billion, with curiosity on debt rising to N5.51 billion from N1.40 billion. At the identical time, finance earnings elevated to N4.46 billion from N520.68 million, largely reflecting greater curiosity earnings on intercompany mortgage receivables, which reached N4.19 billion in contrast with N502.58 million a 12 months earlier.
The enhance in finance earnings helped offset the upper finance prices, contributing to the slight enhance in nine-month profit earlier than tax. Nevertheless, third-quarter profit earlier than tax fell 13.18% 12 months on 12 months to N8.83 billion. In that quarter, working profit declined to N9.56 billion from N11.00 billion, whereas finance prices rose to N2.85 billion from N957.69 million.
(*9*)Balance Sheet
The stability sheet expanded in the course of the interval, with complete belongings rising to N206.82 billion from N159.91 billion on the finish of 2025.
- Current commerce and different receivables elevated to N50.53 billion from N11.00 billion, whereas money and financial institution balances reached N20.34 billion.
- Cash and financial institution balances reached N20.34 billion, up 19.94% from N16.96 billion at 31 December 2025.
- Total borrowings additionally elevated considerably, reaching N54.96 billion in contrast with N10.52 billion on the finish of December 2025.
- Cash circulate supplied an extra level of consideration. Net money from working actions was unfavorable N15.93 billion, in contrast with constructive N18.82 billion in the corresponding 2025 interval.
Net money used in investing actions was N5.92 billion, whereas internet money from financing actions was N27.02 billion, together with N44.48 billion in borrowing proceeds and N13.32 billion in dividends paid. Cash elevated by N5.17 billion over the interval, leaving the corporate with N20.34 billion in money and financial institution balances on the finish of September.
(*9*)Market response
The firm’s share value stood at N290.50 on the shut of buying and selling on Friday, October 16, 2026.
The share value has risen by 76.49% YoY, up from N164.60.
