NAHCO profits soar, execs cheer as critics wary
Nigerian Aviation Handling Company investors may receive increased returns after the logistics firm boosted distributable profits by 47 percent during the nine months ending in September. Earnings per share climbed to 6.91 naira from 4.71 naira recorded during the corresponding 2024 period, according to financial statements released over the weekend at the Nigerian Exchange. The company had raised dividend distributions by 134 percent for its previous business year.
Revenue expanded 40.7 percent to reach 47.76 billion naira compared with 33.95 billion naira one year earlier, driven by contract renewals and subsidiary expansion. Operating profit jumped 40.8 percent to 18.14 billion naira, while net income rose 46.6 percent to 13.46 billion naira. Total assets increased to 48.64 billion naira by September from 46.95 billion naira recorded in December.
Group Managing Director Olumuyiwa Olumekun said the aviation handler has focused investment on export processing facilities and warehouses nationwide. Chairman Seinde Fadeni stated management remains committed to widening activities and deepening profitability through a five-year strategic plan centered on equipment upgrades, digitization and environmental governance.
