🇳🇬NigeriaWest Africa
Transcorp Hotels reports N22.41 billion revenue in Q1 2026, a 9 per cent increase from 2025
via Punch Nigeria2 min read
Transcorp Hotels Plc, the hospitality subsidiary of Transnational Corporation Plc, has announced its unaudited financial results for the first quarter ended March 31, 2026. The company reported a revenue of N22.41 billion, marking a 9 per cent growth compared to the N20.64 billion recorded in the same period in 2025. This performance highlights the company's continued dominance in the African market. The management stated that the Q1 2026 performance reflects a strategy focused on discipline, operational efficiency, and consistent value creation. Beyond revenue growth, the company saw a 15 per cent increase in Profit Before Tax, and gross profit margins expanded to 77 per cent. Oluwatobiloba Ojediran, the Chief Finance Officer of Transcorp Hotels Plc, noted that the team's commitment to efficiency did not compromise the guest experience. Ojediran further detailed that the cost of sales margin was reduced from 25 per cent in Q1 2025 to 23 per cent in Q1 2026, demonstrating disciplined execution. Transcorp Hotels Plc, a leader in luxury hospitality, is a subsidiary of Transnational Corporation Plc, a diversified conglomerate with interests in power and energy. The company appears well-positioned to maintain its growth trajectory throughout the fiscal year.
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This summary was AI-generated from a story originally published by Punch Nigeria.
Arsenal is reportedly preparing a £70m offer for Newcastle United captain Bruno Guimaraes to strengthen their midfield for the upcoming season. The Brazil international is a priority target for the Premier League champions, who aim to add quality and experience to their squad. Guimaraes is believed to be open to joining Arsenal, and Newcastle is aware of his preference for the North London club. While talks have intensified, it is uncertain if the £70m bid will be sufficient for Newcastle to release their captain. Arsenal is maintaining a strict approach to transfer valuations, unwilling to exceed their assessment of a player's worth, as seen with their previous interest in Aston Villa forward Morgan Rogers, where they refused to match Chelsea’s £117m offer. Arsenal is also prioritizing defensive reinforcements, with Aston Villa defender Ezri Konsa as their first-choice target, and has made inquiries about his availability. Como defender Jacobo Ramon is also on their shortlist, though contract clause complications could hinder a deal. After failing to sign Rogers, Arsenal is still seeking attacking additions, with Atletico Madrid forward Julian Alvarez considered a dream target, despite potential cost and his reported preference for Barcelona. The Gunners have also explored a move for Paris Saint-Germain winger Bradley Barcola as manager Mikel Arteta continues to build a competitive squad.
An Enugu Air Embraer regional jet experienced a runway excursion after landing at the Benin Airport on Thursday. The airline confirmed that all passengers and crew members were safely evacuated without any injuries or casualties. The incident involved one of Enugu State-owned carrier’s aircraft, which had recently been introduced into its fleet for commercial operations. Enugu Air has notified the relevant aviation authorities and an assessment of the aircraft and the circumstances surrounding the occurrence is underway. The airline stated that the incident might lead to temporary adjustments in some flight schedules, and affected passengers will be contacted directly. The cause of the runway excursion has not yet been determined, and aviation authorities are expected to investigate the incident.
Newcastle United and Liverpool are planning a special tribute for club legend Kevin Keegan before their Premier League opening fixture at St James’ Park. The tribute follows Keegan's death at 75 after battling stage-four cancer. Both clubs are in discussions to honor Keegan's contributions when they meet on Sunday, August 23, 2026. Newcastle confirmed it is working with Liverpool, supporter groups, and the Premier League to ensure a fitting farewell for the former England captain and manager. Keegan had successful spells as a player at Liverpool, winning multiple titles, and later managed Newcastle, guiding them to Premier League promotion and a second-place finish. Newcastle has already announced several tributes, including black armbands for teams, a minute's silence before a friendly, and displaying Keegan's image at St James’ Park. The main tribute will occur in the seventh minute of the match, recognizing his jersey number. The club will also consult Keegan’s family regarding a permanent tribute.