Transcorp Hotels grow revenue to N47.6bn in first half

Transcorp Hotels Plc has reported a has reported a revenue growth of N47.6 billion in the first half of the year.

This is a 60.07 per cent rise from the N29.7 billion generated as revenue within the same period under review in 2024.

Transcorp Hotels announced this in its unaudited financial report for the first half of the year released as a corporate disclosure through the Nigerian Exchange Ltd. on Friday.

According to the report, the hotel witnessed a 70.92 per cent growth in its gross profit from N21.19 billion to N36.2 billion while the profit before tax rose from N10.5 billion to N12.2 billion.

The company raked in N8.7 billion profit, an increase from N6.6 billion of the previous year.

It incured further losses in its cost of sales from N8.53 billion to N11.36 billion, while the operating expenses increased losses from N13.3 billion to N22.8 billion.

The Earnings per share also climbed from 65k to 85k.