WorldStage– Real estate and hospitality leader Haldane McCall Plc has released its unaudited financial statements for the third quarter ended September 30, 2026, on the Nigerian Exchange Group (NGX), demonstrating solid top-line expansion and significant asset growth.
The financial report reveals an aggressive scaling of commercial operations, underlined by strong revenue metrics, substantial increases in asset valuation, and robust bottom-line performance across its primary business segments.
Key Financial Highlights (Q3 2026 vs. Q3 2025)
Gross Turnover / Revenue: Climbed by 59.35% to N2.898 billion (compared to N1.819 billion in Q3 2025).
Operating Profit: Increased to N850.16 million, up from N620.18 million during the corresponding period in 2025.
Profit Before Tax (PBT): Rose significantly to N819.50 million (vs. N620.18 million in September 2025).
Profit After Tax (PAT): Advanced to N540.87 million from N415.52 million, reflecting a 30.17% year-on-year bottom-line growth.
Total Assets: Expanded exponentially by 55.36% to N32.73 billion from N21.06 billion recorded at the close of Q3 2025, buoyed by major increases in property, plant, and equipment as well as work-in-progress inventories.
Shareholders’ Equity: Strengthened considerably to N25.50 billion, up from N16.71 billion.
Real Estate and Hospitality Drive Momentum
A granular review of Haldane McCall Plc’s turnover streams shows that Sales of Land and Buildings remained the primary growth catalyst, generating N2.22 billion in revenue compared to N1.12 billion in the previous year.
Meanwhile, the company’s hospitality subsidiary, Suru Express Hotel, alongside service charge operations, contributed steadily to cash flow streams, with hotel revenues grossing N593.23 million for the nine-month period.
On the cost front, cost of sales settled at N1.69 billion, reflective of expanded development activities and active construction pipelines. Total inventories and work-in-progress surged to N11.58 billion, signalling aggressive capital deployment into properties under construction to meet expanding demand in the Nigerian real estate market.
Outlook & Market Position
As a key player listed on the Main Board of the Nigerian Exchange with a free float compliance status of 35.29% and a share price benchmarked at N3.41, Haldane McCall Plc continues to attract attention from value-oriented investors.
The company’s strong asset revaluation reserves—which rose past N10.91 billion—and improved cash and cash equivalents position of N543.79 million indicate a resilient balance sheet. Management’s disciplined approach to cost optimization, coupled with strategic real estate positioning, sets the firm up for a strong finish to the 2026 financial year.
