Transcorp Hotels Plc has reinforced its market leadership in Nigeria’s hospitality industry with the completion of a 5,000-capacity event centre – a move the company said will unlock new revenue opportunities and enhance long-term shareholder value.

Announcing its first quarter 2025 performance, the company stated that the completion reinforced Transcorp Hotels’ leadership in Nigeria’s hospitality sector and ability to create long-term value for shareholders.

The company’s unaudited results for the first quarter ended March 31, 2025, showed revenue growth of 52 per cent growth in revenue from N13.8 billion to N21 billion, while profit before tax (PBT) stood at N6.16 billion higher than N6.09 billion achieved in the corresponding period on 2024, even without the exceptional N2.9 billion FX gain recorded in the prior year.

In addition, the company successfully reduced its cost of sales margin from 28 per cent in Q1 2024 to 25 per cent in Q1 2025, resulting in a 75 per cent gross profit margin in Q1, 2025.

The company sustained its profit momentum in Q1 2025, growing gross profit by 59.6 per cent to N15.84 billion from N9.92 billion in the preceding year. This solid performance highlights the underlying strength of our operations and our ability to deliver value, even in a less favourable macroeconomic environment.
Reacting to the performance, the Managing Director, Uzo Oshogwe, attributed the results to disciplined execution and strategic investment in assets like the new Transcorp Centre.

“Our Q1 2025 results demonstrate the underlying strength of our business and the effectiveness of our strategic focus on driving revenue growth. The significant increase in revenue and the impressive profit margin growth are clear indicators of the hard work and dedication of our team.

“We recently added Transcorp Centre, a 5,000-capacity event space, to our expanding assets, including the iconic Transcorp Hilton Abuja, as we continue to solidify our position as a leader in the African hospitality landscape,” he said.