Transcorp Hotels profit increases by 143% as revenue hits N21.7 billion

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Transcorp Hotels Plc has announced its audited financial statements for the full year ended December 31, 2021, showing 114 per cent growth in revenue to N21.74bn from N10.16bn as of December 2020, while gross profit rose by 143 per cent to N16.23 billion from N6.67 billion.

 

The results show improved performance, signaling the firm’s strong recovery from the impact of the COVID-19 pandemic in 2020, a statement said.

 

The performance also reflects the Company’s resilience and nimbleness, as it consistently leverages innovation to achieve outstanding performance, breaking occupancy and revenue records in 2021.

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