Connect with us

Breaking

Transcorp Hotels records 624.4% rise in profit

Published

on

FB IMG 1652243216812

Transcorp Hotels Plc, Nigeria’s top hospitality company and a subsidiary of Transnational Corporation Plc. (Transcorp Group) has ended te first quarter of 2022 with an impressive result, reporting a 77.4mper cent growth in revenue to N7.04 billion from N3.97 billion in the same period in 2021. 

The hospitality company which owns the iconic Transcorp Hilton Abuja, Transcorp Hotels Calabar and online booking platform aura by Transcorp Hotels, also recorded more than 600 per cent growth in profit before tax (PBT) to N1.067 billion from a loss of N203.7 million in the same period last year. 

The result is contained in the Company’s Unaudited Financial Statements for the period ended 31 March 2022, published on the Nigerian Exchange Group (NGX).

Commenting on the results, Mrs Dupe Olusola, Managing Director/Chief Executive Officer of Transcorp Hotels Plc, expressed confidence in the Company’s ability to sustain its growth trajectory. 

“Our first quarter performance was driven by our relentless innovation in all facets of our business, creating new and tailored business and leisure offerings, while consistently improving guest experience to ensure maximum value for every spend. This has seen us record continuous growth from January through March. Our leisure business remains strong on the back of strategies employed following the pandemic, even as our International Business Travellers continue to show impressive recovery,” Dupe Olusola said.