Ikeja Hotel Plc has announced a profit of N4.85bn for the nine months ended September 30, 2025, up from N2.0bn in the same period last year.
The company’s revenue rose to N18.52bn, compared with N12.60bn in 2024, while gross profit surged to N9.02bn, reflecting strong operational performance.
For the third quarter alone, Ikeja Hotel posted a profit of N1.73bn, a significant increase from the N646m recorded in Q3 2024. Basic earnings per share for the period stood at 224 kobo, up from 93 kobo last year.
The hotel’s balance sheet remains robust, with total assets of N90.54bn, supported by cash and cash equivalents of N29.56bn and loans to related parties of N34.07bn. Shareholders’ equity rose to N35.12bn, underpinned by retained earnings of N18.78bn.
Operating profit for the period was N6.90bn, boosted by finance income of N1.55bn, while finance costs amounted to N1.11bn.
The company attributed its strong performance to effective cost management, strategic investments, and improved revenue generation.
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
Contact: [email protected]
