Transcorp Hotels revenue jumps 49 percent
Transcorp Hotels reported revenue of 72.31 billion naira for the third quarter ending September 30, representing a 49 percent gain from 48.49 billion naira the previous year. Profit before tax climbed 36 percent to reach 22.4 billion naira as the hospitality company improved efficiency and customer service. The firm opened a 5,000-seat convention facility to attract international conferences and business events to Nigeria.
Chairman Emmanuel Nnorom said cost management and operational discipline drove quarterly results that delivered returns to investors. Chief Executive Uzo Oshogwe noted the event center supports efforts to establish the country as a destination for global gatherings while generating shareholder value. The business operates Transcorp Hilton Abuja and the digital booking platform Aura by Transcorp Hotels across the sector.
