Transcorp Group reports N50.7bn pre-tax profit in Q1

Transnational Corporation Plc (Transcorp Group) has announced its unaudited first quarter (Q1) 2026 financial results, delivering resilient profitability, strong balance sheet growth, and improved earnings to shareholders despite a moderated revenue profile.

The Group’s revenue moderated compared to the prior year, reflecting operational headwinds experienced during the quarter.

Financial highlights…

Revenue N125.1 billion (Q1 2025: N143.7 billion), Profit Before Tax N50.7 billion (Q1 2025: N49.4 billion).

Profit After Tax: N37.9 billion (Q1 2025: N36.7 billion). Earnings Per Share: 216 kobo (Q1 2025: 192 kobo). Total Equity: N392.8 billion (December 2025: N353.4 billion). Cash and Cash Equivalents: N31.4 billion (December 2025: N21.9 billion)

Finance costs improved significantly, moving from a net cost position in Q1 2025 to a net income position in Q1 2026, while PBT increased by 3 percent, underscoring the Group’s ability to protect earnings amid operational disruptions.

Performance in the power businesses was impacted by gas supply constraints and power evacuation challenges arising from the vandalisation of critical transmission infrastructure, which significantly limited the ability to dispatch available generation capacity to the national grid.

The hospitality business recorded strong growth in revenue and profitability, owing to sustained service delivery and customer excellence.

Owen Omogiafo, president/Group CEO, Transnational Corporation Plc said, “Transcorp Group is built on the conviction that Africa’s most critical sectors represent not just a commercial opportunity, but a responsibility to drive national development. We continued to push to deliver much-needed power to the National Grid, achieving an available capacity of 973MW in our power-generating plants in the quarter”.

She said, “Unprecedented evacuation challenges stemming from power transmission infrastructure vandalisation and gas supply challenges in the quarter, limiting power generated to 454MW. We are working with the relevant stakeholders to address these issues and to increase the utilisation of our available generation capacities.

“Our hospitality business continued to diversify its service offerings, reinforcing its leadership position in the sector. The newly commissioned multipurpose Events Centre has created avenues for social events, meetings and conferences.

“Despite the challenging operating environment in the quarter, the Group remained profitable, growing equity to N392.8 billion, with increased returns to shareholders. Our strategy remains firm, our balance sheet is strong, and our outlook for the rest of 2026 is positive,” she said.