Business • Created August 1, 2025 04:54

NAHCO records 166.7% rise in half year profit

Nigerian Aviation Handling Company (NAHCO) Plc has recorded a net profit by 166.7 per cent to N8.88 billion in the first half of this year. Interim report and accounts of NAHCO for the half-year ended June 30, 2025 released at the Nigerian Exchange (NGX) showed that the leading aviation handling group doubled group revenue by […]

NAHCO records 166.7% rise in half year profit

Nigerian Aviation Handling Company (NAHCO) Plc has recorded a net profit by 166.7 per cent to N8.88 billion in the first half of this year.

Interim report and accounts of NAHCO for the half-year ended June 30, 2025 released at the Nigerian Exchange (NGX) showed that the leading aviation handling group doubled group revenue by 102.06 per cent to N32.33 billion in first half 2025 as against N16.0 billion recorded in comparable period of 2024. Gross profit grew by 117.73 per cent from N8.80 billion to N19.16 billion. Operating profit jumped by 126.9 per cent to N11.64 billion in the first half of 2025 as against N5.13 billion in the first half of 2024.

With improving midline cost management, pre-tax profit increased by 148.21 per cent from N4.75 billion in the first half 2024 to N11.79 billion in the first half 2025.

Net profit after tax rose by 166.7 per cent from N3.33 billion to N8.88 billion. With these, earnings per share (EPS) leapt from N1.71 in first half 2024 to N4.55 in first half 2025, providing significant headroom for possible increase in dividend payouts.

Underlying ratio analysis underlined the growth in the group’s core business operations and increasingly efficient cost management. Gross profit margin improved from 55 per cent in first half 2024 to 59.26 per cent in first half 2025. Operating profit margin increased from 32.06 per cent to 36.0 per cent. Pre-tax profit margin also improved from 29.7 per cent to 36.5 per cent. Return on total assets tripled from 7.09 per cent to 20.14 per cent. Return on equity also jumped to 51.09 per cent as against 16.59 per cent.

The first half 2025 strengthened the outlook for NAHCO, which had increased dividend payout by 134 per cent for the 2024 business year. NAHCO had distributed N11.58 billion as cash dividends for the 2024 business year, representing a dividend per share of N5.94, compared with N4.95 billion paid for the 2023 business year.

Chairman, Nigerian Aviation Handling Company (NAHCO) Plc, Dr Seinde Fadeni, reiterated the commitment of the board and management of the company to further diversify its businesses as part of strategies to drive the group’s revenue above N300 billion within the next five years.

He said a five-year growth strategy being implemented by the company would enhance existing businesses and diversify into other emerging opportunities.

Group Managing Director, Nigerian Aviation Handling Company (NAHCO) Plc, Mr Olumuyiwa Olumekun, highlighted some operational achievements in the past year to include the recertification of the company in three major stations of Lagos, Abuja and Kano and the commissioning of a new NAHCO Export Packaging and Processing Centre, Lagos.

According to him, the new centre, the first of its kind in Nigeria, was a strategic move to enhance the competitiveness of Nigerian products on the global stage while creating more jobs for Nigerians.

 

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