Transcorp Hotels Plc has reported a profit before tax (PBT) of N22.613 billion for the year ended December 31, 2024, marking an impressive 138.48% year-on-year (YoY) growth.
The company has declared a final dividend of N0.64 per share, bringing the total dividend for the year to N0.74, including the N0.10 interim dividend previously paid.
The final dividend is set to be paid on April 16, 2025.
According to the audited financial statements reviewed by Naijaonpoint, Transcorp Hotels’ revenue surged by 69.18% YoY to N70.134 billion, up from N41.456 billion in the previous year.
Emmanuel Nnorom, Chairman of Transcorp Hotels, in his comments, highlighted the Company’s commitment towards maximizing shareholder value.
“We remain deeply committed to enhancing shareholder value and delivering strong returns to our investors, ensuring that Transcorp Hotels continues to set the standard for hospitality excellence. The hospitality sector continues to be a vital contributor to Nigeria’s economy, and we are proud of Transcorp Hotels’ role in shaping the industry’s future.”
Building on this, Managing Director/CEO Uzo Oshogwe emphasized the company’s focus on innovation, exceptional service, and sustained growth despite economic challenges.
“Thanks to the dedication and passion of our teams, 2024 was a year of strong growth and significant milestones. Despite inflation and other macroeconomic challenges, we remain focused on delivering outstanding hospitality experiences, expanding our offerings, and implementing a strategy that unlocks the full potential of our business for all stakeholders.”
Profit surge
Expense Analysis:
Balance sheet and financial position
Transcorp Hotels’ share price has remained flat at N126.10 since February 12, 2025, marking an 8.71% year-to-date (YtD) return as of February 26, 2025.
In 2024 it delivered an impressive 65% YtD gain in 2023 and over 1,000% YtD return in 2023, highlighting sustained investor confidence.
Overall, Transcorp Hotels has delivered another stellar performance, blending aggressive revenue growth with disciplined cost management.