Tony Elumelu's Transcorp Hotels lifts profit 21% as revenue falls and debt jumps fivefold
Billionaires Africa | 23.07.2026 05:51
Transcorp Hotels, the Nigerian hospitality group controlled by Tony Elumelu's Transnational Corporation, lifted first-half profit 21 percent to ₦10.54 billion ($7.6 million) even as revenue declined, with the gain driven by a sharp reduction in operating costs rather than growth in the business.
