Transnational Corporation Plc (NGX: TRANSCORP), one of Nigeria’s largest listed conglomerates, has released its unaudited financial results for the first quarter ended 31 March 2025, revealing significant gains across its core power and hospitality businesses.
The Group reported a total revenue of N143.7 billion for Q1 2025, marking a 62 per cent rise compared to the N88.5 billion recorded during the same period in 2024.
This increase was largely attributed to the robust performance of its power subsidiaries, which together posted a 70 per cent year-on-year revenue jump to N126.8 billion. Transafam Power, which Transcorp acquired in 2020, delivered an especially notable result, growing its revenue by 212 per cent from N6.9 billion to N21.4 billion.
Meanwhile, the Group’s hospitality subsidiary, Transcorp Hotels, also reported strong earnings. Revenue climbed by 52 per cent to N21.0 billion, up from N13.8 billion in Q1 2024.
Transcorp’s gross profit rose sharply to N73.31 billion, compared with N46.21 billion in the corresponding quarter last year. Profit before tax (PBT) came in at N49.41 billion, slightly above the N45.68 billion recorded in Q1 2024. Last year’s figure had been boosted by a one-off gain of N11.0 billion from the disposal of an asset.
Reflecting on the performance, President and Group Chief Executive Officer of Transcorp Plc, Dr Owen D. Omogiafo, OON, remarked: “Our Q1 2025 financial results reflect the strength of our execution, the resilience of our business model, and our steadfast focus on creating long-term value for our shareholders, even amid a challenging operating environment.”
Transcorp continues to play a significant role in Nigeria’s energy landscape, contributing more than 20 per cent of the country’s total installed electricity generation capacity through its power subsidiaries.
The company also remains committed to broadening its influence in the energy and hospitality sectors, with a strategic emphasis on sustainability and regional transformation across the African continent.
