Transcorp defies headwinds, posts N85.7bn profit before tax

Transnational Corporation PLC (Transcorp Group), Nigeria’s leading listed conglomerate, has defied persistent economic headwinds to deliver a profit before tax (PBT) of N85.7 billion in the first half (H1) of 2025, marking a 21% year-on-year increase.

This performance underscores the Group’s resilience and strong fundamentals across its diversified portfolio in power, hospitality, and energy, despite prevailing macroeconomic challenges.

For the period ended June 30, 2025, Transcorp’s PBT rose from N70.9 billion in the same period of 2024 to N85.7 billion. The company also recorded a significant rise in revenue, which surged by 59% to N279.7 billion, up from N175.4 billion in the corresponding period of the previous year.

Gross profit margin improved to 47%, reflecting effective cost management and top-line growth.

Despite the tough operating environment, Transcorp maintained its trajectory of profitability and continued delivering value to its shareholders.

The company has declared an interim dividend of N4.064 billion, representing 40 kobo per ordinary share, subject to applicable withholding tax. Its sustained performance reaffirms investor confidence and reflects the strength of its strategic focus.

During the review period, the Group achieved a major milestone with the launch of the Transcorp Centre in Abuja, a state-of-the-art convention and events facility. The new 5,000-seat capacity centre has already hosted prominent regional events and high-level international delegates, positioning Nigeria as a hub for major conferences and gatherings.

Tony Elumelu, Chairman of Transnational Corporation PLC, said the company remains committed to its impact-driven and value-creating mission.

He noted that Transcorp is advancing strategic investments across key sectors of the Nigerian economy. According to him, the Group’s power subsidiaries, Transcorp Power and Transafam Power are focused on innovation to improve lives and transform Nigeria’s power sector.

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In hospitality, the company continues to elevate customer experience and redefine industry standards, particularly with the recent opening of the Transcorp Centre.

Elumelu stated that the company’s growth was evidenced in the resilience and strength of its diversified business model.

He reaffirmed Transcorp’s dedication to achieving its long-term strategic vision, rewarding shareholders, and contributing meaningfully to Nigeria’s sustainable development.

Owen Omogiafo, President and Group Chief Executive Officer of Transcorp, said the Group’s Q2 2025 performance reflected a strong commitment to operational excellence and the resilience embedded in its corporate strategy.

She noted that this strategic adaptability has enabled the company to navigate a dynamic economic landscape while delivering consistent value to stakeholders.

She added that with the opening of the Transcorp Centre and successful hosting of high-profile events such as the AFREXIM Annual Meetings 2025, the Group is establishing Nigeria as a destination for large-scale international conferences and events.

Omogiafo emphasised that Transcorp remains focused on accelerating growth and consolidating its leadership in the power, hospitality, and energy sectors.

Transcorp Group is one of Africa’s leading conglomerates, driven by a mission to improve lives and transform Africa. Its power subsidiaries, Transcorp Power Plc and Transafam Power, collectively provide over 20% of Nigeria’s installed power capacity. The Group is also investing in the domestic energy value chain through its asset in OPL 281.

In the hospitality sector, Transcorp Hotels PLC owns the iconic Transcorp Hilton Abuja and operates Aura by Transcorp Hotels, a digital platform aimed at enhancing travel and accommodation experiences across Nigeria.

Hope Moses-Ashike

Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks. She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings. Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.