Transcorp Hotels Plc has announced a strong start to the 2026 financial year, posting significant growth in both revenue and profitability for the first quarter ended March 31, 2026.

According to its unaudited financial results, the company recorded revenue of N22.41 billion, representing a 9 per cent increase from the N20.64 billion posted in the same period in 2025.

The hospitality firm, a subsidiary of Transnational Corporation Plc, said the performance reflects continued strength in its business model and sustained demand across its hospitality operations.

The company also reported a 15 per cent rise in Profit Before Tax, while its gross profit margin improved to 77 per cent, driven by tighter cost control and operational efficiency.

Management attributed the results to disciplined execution of its growth strategy, noting that the focus remained on improving efficiency without compromising guest experience.

The Chief Finance Officer, Oluwatobiloba Ojediran, said the company achieved improved cost management during the quarter, with cost of sales margin declining from 25 per cent in Q1 2025 to 23 per cent in Q1 2026.

He explained that the performance reflected a balance between efficiency gains and maintaining service quality across its hospitality operations.

The company said the results reinforce its position as a leading player in Africa’s luxury hospitality sector and demonstrate resilience in its core operations.

Transcorp Hotels added that it remains focused on sustaining its growth momentum through the rest of the 2026 financial year, supported by operational improvements and strategic execution.