Power businesses have delivered robust revenue growth of N126.8 billion to Transnational Corporation Plc in the first quarter of the year 2025.
The conglomerate in its unaudited results for the first quarter ended March 31, 2025, had declared a gross revenue of N143.7 billion, marking an increase of 62%, compared to revenueof N88.5 billion in Q1 2024.
Power businesses delivered robust revenue growth of N126.8 billion 70% year-on-year, up from N74.8bn in Q1 2024. Notably, Transafam Power, acquired in November 2020, achieved 212% year-on-year revenue growth, from N6.9bn to N21.4 billion.
Transcorp Hotels delivered a strong performance in Q1 2025, with revenue rising by 52% year-on-year to N21.0bn, up from N13.8bn in Q1 2024. Gross profit for the Group soared to N73.31bn in Q1 2025 from N46.21 in Q1 2024.
The group closed the quarter with a very healthy PBT of N49.41bn compared with N45.68 billion in Q1, 2024, which had an exceptional income of ₦11.0 billion income from the disposal of shares.
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According to the President/GCEO of Transcorp Plc, Dr. Owen D. Omogiafo, the performance underscores the strength and resilience of our business operations and reaffirms our ability to generate sustainable value for our investors.
“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”.
