Transnational Corporation Plc (Transcorp), one of Nigeria’s leading conglomerates, has announced a 39 per cent year-on-year growth in revenue to N413.44 billion for the nine months ended September 30, 2025, compared to N297.66 billion recorded in the corresponding period of 2024.
The Group’s President and Chief Executive Officer, Dr Owen Omogiafo, disclosed this during an investor and analyst conference call yesterday, attributing the performance to robust operations in its power and hospitality businesses, despite prevailing macroeconomic headwinds.
Profit before tax rose by 18 per cent to N124.5 billion from N105 billion in the same period of 2024, while profit after tax grew by 20 per cent to N91.41 billion from N76 billion.
Omogiafo said the company’s performance underscores the resilience of its business model.
“We shall continue to drive the purpose of improving lives and transforming Africa while creating value for all our stakeholders,” she said, noting that the Group had exceeded its four-year cumulative revenue target within just nine months.
The Group’s Chief Financial Officer, Festus Izevbizua, said total assets grew by 25 per cent to N941 billion from N752 billion as of the full year 2024, while shareholders’ funds increased by 14 per cent to N309 billion.
Izevbizua noted that the company operated under challenging economic conditions, including elevated inflation and currency volatility. Inflation declined to 18.02 per cent in September 2025 from 34.8 per cent in December 2024, following a rebasing of the Consumer Price Index.
“Nigeria’s GDP growth is projected to reach 3.9 per cent by the end of 2025, up from earlier estimates of 3.0 per cent, reflecting stronger fundamentals and improved investor confidence,” he stated.
The power business remained the Group’s key revenue driver, contributing N341.1 billion in revenue and N93.2 billion in profit before tax within the nine-month period — surpassing the full-year 2024 performance.
Transcorp Power Plc recorded a 38 per cent increase in revenue to N308.54 billion from N223.56 billion in 2024, on the back of improved power generation, which rose from an average of 341MW in 2024 to 420MW in 2025.
