Transcorp Group, a leading Nigerian conglomerate with key investments in the power, hospitality, and energy sectors, has reported a N73.31 billion gross profit in its unaudited financial results for the first quarter ended March 31, 2025.
The group recorded a 62% year-on-year revenue increase, reaching N143.7 billion in Q1 2025, compared to N88.5 billion in the same period of 2024. This strong topline performance was driven by impressive contributions from Transcorp’s power and hospitality businesses.
Power Sector Drives Strong Growth
The power sector led the group’s growth, posting a 70% revenue increase, with earnings rising to N126.8 billion in Q1 2025 from N74.8 billion a year earlier. A standout performer was Transafam Power, which achieved a remarkable 212% growth, growing from N6.9 billion in Q1 2024 to N21.4 billion in the current period.
Hospitality Revenue Also Surges
Transcorp Hotels, the group’s hospitality arm, also delivered robust results. Revenue grew by 52% year-on-year, climbing to N21 billion in Q1 2025 from N13.8 billion in Q1 2024. The performance reflects increasing traction in Nigeria’s leisure and business travel market.
Profit and Investment Highlights
- Gross Profit: N73.31 billion (from N46.21 billion in Q1 2024)
- Profit Before Tax (PBT): N49.41 billion, including a one-off income of N11 billion from a share disposal
- Revenue Contribution: Power and hospitality sectors led growth
Dr. Owen D. Omogiafo, OON, President and Group CEO of Transcorp, remarked:
“Our Q1 2025 results underscore the strength of our execution and the resilience of our business model. We remain committed to delivering sustained value to shareholders despite a challenging macroeconomic environment.”
Strategic Sector Expansion
Transcorp continues to expand its influence in key sectors:
- Power: Transcorp Power Plc and Transafam Power now contribute over 20% of Nigeria’s installed power capacity.
- Energy: Ongoing investment in OPL 281 deepens domestic energy participation.
- Hospitality: The flagship Transcorp Hilton Abuja and Aura by Transcorp Hotels, the group’s digital platform, continue to gain market share.
As one of Africa’s top listed conglomerates, Transcorp remains focused on its mission to transform Africa through bold, strategic investments that improve lives and drive inclusive economic growth.
