Transnational Corporation Plc (NGX: TRANSCORP), one of Nigeria’s foremost conglomerates with investments in power, hospitality, and energy, has posted a strong first-quarter performance, with gross profit rising to N73.31 billion for the period ended March 31, 2025.
The unaudited financial results, released on Wednesday, show that revenue surged by 62% year-on-year to N143.7 billion in Q1 2025, compared to N88.5 billion in the corresponding period of 2024.
The Group attributed the performance to outstanding contributions from its subsidiaries, especially in the power and hospitality sectors.
Its power subsidiaries, Transcorp Power Plc and Transafam Power, recorded a combined 70% growth in revenue, generating N126.8 billion in Q1 2025, up from N74.8 billion in Q1 2024. Notably, Transafam Power grew revenue by 212% year-on-year, from N6.9 billion to N21.4 billion.
Transcorp Hotels Plc also posted strong results, with revenue increasing by 52% to N21 billion, compared to N13.8 billion in the previous year’s first quarter.
Profit before tax stood at N49.41 billion, up from N45.68 billion in Q1 2024, a period that had included a one-off N11 billion gain from the disposal of shares.
Commenting on the performance, President and Group CEO, Dr. Owen D. Omogiafo, OON, said:
“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 Group continues to play a key role in Nigeria’s economic development. Its power assets provide over 20% of the country’s installed capacity, and its hospitality arm owns and operates the iconic Transcorp Hilton Abuja.
The Group is also expanding its footprint in the energy sector through investments in oil block OPL281 and has introduced a digital hospitality platform, Aura by Transcorp Hotels.
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