NAHCO Grows Profit by 22% to N14.4b in H1 2026

Kayode Tokede

Nigerian Aviation Handling Company (NAHCO) Plc sustained impressive growth trajectory in first half 2026 with 22 per cent growth in profit as recent strategic investments and corporate management initiatives continued to strengthen overall performance outlook.

NAHCO’s six-month report for the period ended June 30, 2026 released at the Nigerian Exchange (NGX) showed that the West Africa’s leading aviation handling and logistics group continued to benefit from increasingly efficient operations and diversified income sources, thus moderating the negative effects of adverse operating conditions on the group’s overall performance.

The report showed that gross revenue rose to N35.36 billion in first half 2026 compared with N32.33 billion in first half 2025. Operating profit grew by 25.4 per cent from N11.637 billion in first half 2025 to N14.593 billion in first half 2026.

Profit before tax improved by 21.8 per cent to N14.37 billion in first half 2026 as against N11.79 billion in comparable period of 2025. After taxes, net profit rose by 22.2 per cent from N8.88 billion to N10.85 billion. With this, adjusted basic earnings per share improved from N4.55 in first half 2025 to N4.87 in first half 2026, providing enough headroom for cash dividend despite increase in outstanding shares due to bonus shares distributed for the 2025 business year.

Shareholders of NAHCO had at their annual general meeting in May, approved combined dividend of cash and bonus shares. The company increased cash dividend to N12.18 billion for the 2025 business year as against N11.58 billion paid for the 2024 business year. Shareholders received a dividend per share of N6.25 for the 2025 business year compared with N5.94 paid for the previous year.

Shareholders also received one ordinary share of 50 kobo each as bonus share for every seven ordinary shares held, automatically increasing the number of shares held by each shareholder by 14.3 per cent. The company’s outstanding paid up shares thus increased from 1.949 billion ordinary shares of 50 kobo each to 2.228 billion ordinary shares of 50 kobo each.

Chairman, Nigerian Aviation Handling Company (NAHCO) Plc, Dr Seinde Fadeni, said the first half 2026 performance shows the resilience of the group’s operating structure and continuing benefits from investments in critical assets.

He said NAHCO has remained proactive and continue to explore ways to maintain its position as the leading aviation handling group.

He said investments in world-class warehouses, ground handling equipment, human capital and other areas have strengthened the capability of the group to adapt to macroeconomic changes while simultaneously converting emerging growth opportunities.

“Our first half 2026 results further confirm our assurance on sustainability of our growth model. We have not seen growth on growth every year but also period on period, showing that we are not growing in bits but steadily through the entire operations.

“We remain confident that we are in stronger position to continue to maintain our leadership position through excellent services to our stakeholders.

“As Nigerian aviation industry opens up further to global opportunities, NAHCO’s strategic focus on growth, diversification and sustainability would ensure stronger performance and returns to our shareholders,” Fadeni said.

Group Managing Director, Nigerian Aviation Handling Company (NAHCO) Plc, Mr Olumuyiwa Olumekun said that NAHCO has continued to leverage its efficient operating model, excellent services and built-in resilience to mitigate risks and sustain growth.

He said the first half 2026 performance underlines management’s focus on quality expansion, ensuring that growth is not only reflected in size of operations but the quality of returns to shareholders.

“We are focused on our strategy of diversification, operational excellence and quality growth. We continue to invest in automation and human technical capabilities while expanding our nationwide storage and warehousing facilities. Our preference by industry stakeholders is built on both availability and quality. We remain committed to our known service culture of excellence,” Olumekun said.

The first half 2026 performance showed that NAHCO could again surpass its 2025 results, which had earned it shareholders’ commendations and made it one of the most sought after stocks at the stock market.