Nigeria, July 25 -- Transcorp Hotels posted a 31.2 per cent increase in net profit to N8.7 billion for the first six months of the year, compared to the same period of 2024, according to its unaudited results issued on Friday.

The performance derived strength from revenue, which improved by 60.1 per cent to N47.6 billion on the back of a sharp jump in income from room bookings as well as from food and beverages.

Room bookings accounted for 65.9 per cent of turnover and grew 59.3 per cent, while food and beverages contributed 28.7 per cent, growing by 57.8 per cent.

Other income dropped to N389.3 million from N4.2 billion as net unrealised foreign exchange gain, which drove growth a year ago, fell by as much 98.9 per cent this time arou...