Ikeja Hotel Plc grew its profit after tax by 30.5 percent year-on-year to N4.06 billion in H1 2026, up from N3.11 billion in H1 2025, its highest in the last 5 years, even as revenue rose a more modest 9.2 percent, with the sharper bottom-line gains driven largely by strength below the operating line.
The hospitality company’s revenue climbed from N12.13 billion in H1 2025 to N13.25 billion in H1 2026, anchored by stronger performance across its core business lines — rooms, and food and beverage. Gross profit grew at a slower pace, rising to N6.42 billion from N5.96 billion, weighed down by an increase in cost of sales. Operating profit expanded even more modestly, up 3.3 percent to N4.72 billion from N4.57 billion, as higher administrative expenses and a decline in other income tempered the impact of stronger revenue.
Profit before tax recorded the sharpest improvement among all income
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