Transnational Corporation PLC (TRANSCORP), a Nigerian conglomerate with key investments spanning the power, hospitality, and energy sectors, has reported its unaudited financial results for the first quarter ended March 31, 2025, revealing a remarkable surge in profit to N73.31 billion.
For the first quarter of 2025, the Group posted a revenue of N143.7 billion, reflecting a substantial rise of 62% when compared to the N88.5 billion recorded in the corresponding period of 2024. This impressive revenue growth was largely propelled by outstanding contributions from its various subsidiaries.
The power segment demonstrated particularly robust performance, with revenue increasing by 70% year-on-year to N126.8 billion in Q1 2025, up from N74.8 billion in Q1 2024. Within this sector, Transafam Power, which was acquired in November 2020, stood out with an extraordinary 212% year-on-year revenue growth, moving from N6.9 billion to N21.4 billion.
Read also: Here’s how Transcorp Group performed in 2024
Meanwhile, Transcorp Hotels also delivered a solid result, recording a revenue increase of 52% to N21.0 billion, up from N13.8 billion in the same quarter of 2024.
The Group’s profitability remained equally strong and consistent. Gross profit surged to N73.31 billion in Q1 2025 from N46.21 billion in Q1 2024, underscoring the efficiency and productivity of its business operations. The quarter closed with a profit before tax (PBT) of N49.41 billion, a figure that surpasses the N45.68 billion reported in Q1 2024.
It is noteworthy that the 2024 result had included an exceptional income of N11.0 billion from the disposal of shares, making the 2025 growth even more significant and reflective of operational resilience rather than one-off gains. This strong performance emphasises the robustness of Transcorp’s business strategies and its ongoing capacity to create sustainable value for its investors.
Read also: Transcorp Group records 107% revenue increase in 2024
Owen D. Omogiafo, President and Group Chief Executive Officer of Transcorp PLC, expressed confidence in the Group’s trajectory, stating, “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.”
Transnational Corporation PLC widely known as Transcorp Group, is one of Africa’s foremost listed conglomerates, channeling its efforts into transforming Africa and improving lives through strategic investments. Its power subsidiaries, Transcorp Power PLC and Transafam Power, collectively contribute over 20% of Nigeria’s installed power capacity.
Beyond power, Transcorp is deeply involved in enhancing Nigeria’s domestic energy value chain through its participation in OPL281. The Group’s hospitality arm, Transcorp Hotels PLC, owns the renowned Transcorp Hilton Abuja, a flagship destination in Nigeria’s hospitality sector, and has further expanded its reach with the launch of Aura by Transcorp Hotels, a digital hospitality platform aimed at enriching customer experiences.
