Transnational Corporation Plc (Transcorp) reported a profit after tax of N54.37 billion for the first half of 2026, underscoring the resilience of its diversified business model despite weaker revenues, largely caused by operational challenges in Nigeria’s power sector.
The conglomerate’s earnings were supported by lower financing costs, tighter cost management, and improved operating efficiency across its businesses, despite gas supply disruptions and grid constraints affecting electricity generation.
The group’s profit after tax declined 16.6 percent from N65.17 billion recorded in the corresponding period of 2025, while profit before tax fell to N75.88 billion from N85.70 billion a year earlier. Revenue also declined 13.4 percent to N241.53 billion, reflecting lower electricity output from its power subsidiaries, which remain the group’s largest earnings contributor.
Despite the decline in top-line performance, Transcorp improved the quality of its earnings by reducing costs across several expense lines.
Cost of sales declined to
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