…As Revenue hits N44.43bn
Transcorp Hotels Plc has reported a strong financial performance for the first half of 2026, posting a 21.4 per cent increase in profit after tax to N10.54 billion for the six months ended June 30, 2026, driven by improved operating performance despite higher finance costs.
The unaudited financial statements filed with the Nigerian Exchange Limited (NGX) showed that the hospitality company grew revenue to N44.43 billion from N46.93 billion recorded in the corresponding period of 2025.
The company recorded a gross profit of N33.98 billion, compared with N35.57 billion in the same period last year.
Operating profit rose by about 7.2 per cent to N14.76 billion, from N13.75 billion in the corresponding period of 2025, reflecting improved operational efficiency despite higher operating expenses.
Profit before tax increased significantly by 13.4 per cent to N13.69 billion, compared with N12.23 billion a year earlier.
After accounting for an income tax charge of N3.15 billion, profit after tax stood at N10.54 billion, up from N8.68 billion in the first half of 2025.
The performance translated into improved returns for shareholders, with basic and diluted earnings per share rising to 103 kobo, compared with 85 kobo recorded in the corresponding period of last year.
For the three months ended June 30, 2026, Transcorp Hotels sustained its earnings momentum.
Revenue rose to N22.02 billion from N20.29 billion in the second quarter of 2025, while gross profit climbed to N16.78 billion from N16.01 billion.
Operating profit advanced to N7.14 billion, compared with N6.86 billion a year earlier.
Profit before tax increased to N6.61 billion from N6.11 billion, while profit after tax rose by about 30 per cent to N4.88 billion, against N3.75 billion in the corresponding quarter of 2025.
The company’s statement of financial position showed that total assets increased to N197.65 billion as of June 30, 2026, from N159.81 billion at the end of December 2025.
Non-current assets rose to N130.97 billion, largely driven by investments in property, plant and equipment, while current assets increased to N66.68 billion.
Shareholders’ funds strengthened to N93.28 billion, compared with N80.72 billion at the end of 2025, reflecting the impact of the company’s strong earnings during the period.
Total liabilities also increased to N104.37 billion, from N84.68 billion at the end of last year.
The cash flow statement showed that the company generated N27.27 billion from financing activities during the period, while investing activities resulted in a net cash outflow of N3.14 billion.
Cash and cash equivalents closed the period at N15.81 billion, representing an improvement from N9.61 billion recorded at the end of December 2025.
