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Nigeria: NAHCo Records N7.38b Q3 Turnover

THE Nigerian Aviation Handling Company Plc (NAHCo aviance) has posted gross revenue of N7.38 billion for the nine – month period ended September 30, 2019.

The company subsequently posted a profit before tax of N973.1 million for the period, N241.3 million or 32.96 per cent higher than the amount for the same period last year. Profit after tax rose by 30 per cent to N782 million in third quarter 2019 compared with the N601.31 million in third quarter 2018. Earnings per share stood at 48 kobo as at the end of the third quarter of 2019 compared to 37 kobo as earnings per share as at the end of the third quarter of 2018.

The board appointed a new management for the company which early this year embarked on a five – year transformation plan. The company is continuing the massive upgrade of its equipment, warehouses and other facilities at the airports.

Commenting on the results, Group Managing Director, Nigerian Aviation Handling Company Plc (NAHCo aviance) Mrs. Olatokunbo Fagbemi said she was delighted that the company was making progress on all fronts.

“NAHCo is in a good place. Apart from being the industry leader in ground handling in West Africa, we are also providing leadership in supporting our partners, the cargo agents, in the important skills of packaging for export,” Fagbemi said.

She noted that in the period that the new management took over, the company had increased the capacity of its export warehouse and is currently renovating its import warehouse.

She said NAHCo is also taking advantage of opportunities emanating from Federal Government’s closure of the land borders as it is partnering stakeholders on proper packaging for their products for exports.

By: Victor Odiase



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