Transcorp Hotels Plc, a hospitality corporation and part of Transnational Corporation Plc, increased its profit before tax by 624.4 percent to N1.067 billion as of March 31, 2022, from a loss of N203.7 million the previous year.
The company’s unaudited financial accounts for the period ending March 31, 2022, were released on the Nigerian Exchange Group, according to the announcement.
The hotel firm, which owns the Transcorp Hilton Abuja, Transcorp Hotels Calabar, and an online booking platform, claimed sales increased by 77.4% to N7.04 billion in 2021 from N3.97 billion the previous year.
Commenting on the results, the Managing Director/Chief Executive Officer, Transcorp Hotels Plc, Mrs Dupe Olusola, expressed confidence in the company’s ability to sustain its growth trajectory.
She said, “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.
