Transnational Corporation Plc (Transcorp Group) has released its unaudited Q3 2025 financial results, reporting a pre-tax profit of N38.81 billion, representing a 53.84% year-on-year increase compared to the same period in 2024.
The strong quarterly performance lifted the nine-month pre-tax profit to N124.52 billion, an 18% YoY growth, now just 8% short of the company’s full-year 2024 profit.
Revenue for Q3 2025 surged 53.97% YoY to N133.76 billion, while the nine-month revenue rose 38.89% to N413.44 billion, surpassing the entire 2024 figure.
The growth was primarily driven by the energy business, which contributed N270.91 billion, accounting for 66% of the nine-month total revenue.
Key highlights (Q3 2025 vs Q3 2024)
- Revenue: N133.757 billion, +53.96% YoY
- Cost of sales: N68.078 billion, +43% YoY
- Gross profit: N65.680 billion, +67.26% YoY
- Administrative, marketing, and distribution expenses: N16.566 billion, +28.29% YoY
- Operating profit: N45.730 billion, +64.40% YoY
- Net finance income: N5.789 billion, +68.01% YoY
- Post-tax profit: N26.237 billion, +55.57% YoY
- Earnings per share: N1,26; +530% YoY
- Total assets: N940.887 billion, +26.19%
- Shareholders’ funds: N309.571 billion; +13.94
CEO commentary
Commenting on the results, Dr. Owen Omogiafo, OON, President/Group CEO of Transcorp Plc, stated:
“Transcorp Group’s Q3 2025 results demonstrate the successful execution of strategic direction, operational excellence, and portfolio-wide efficiency. Driven by our core purpose to ‘Improve Lives and Transform Africa’, we continue to optimize our businesses to deliver superior stakeholder value.”
Further analysis
A further review of the unaudited financial statements shows that revenue grew faster than both the cost of sales and operating expenses, supporting the growth in profit margins.
- Gross profit margin improved to 49%, up from 45% in Q3 2024.
- The operating profit margin also strengthened to 34.19%, compared to 32.02% YoY.
- Net finance income rose 68.01% to N5.79 billion, reflecting improved efficiency in financial operations.
Balance sheet
The company’s total assets expanded by 26% to N940.89 billion, largely driven by a 157% increase in investments in financial assets, which rose to about N47 billion.
- Property, plant, and equipment (PPE) remained the largest component at N318.99 billion.
- On the equity side, total shareholders’ funds climbed 13.94% to N309.57 billion, while retained losses improved to N149.69 billion, compared to N112.32 billion in 2024.
- Total borrowings declined to N80.05 billion from N88.51 billion, signalling improved leverage management.
- However, trade and other payables remain elevated at N357.61 billion, representing over 57% of total liabilities.
Market performance
As of the close of trading on October 27, 2025, Transcorp Plc’s share price recorded a 0.5% decline to N48.15, though the stock recorded a year-to-date gain of 10.1%.
