NAHCO Records N7.4bn Revenue, N601m Profit in Nine months


Goddy Egene

The Nigerian Aviation Handling Company Plc (nahco aviance) has posted a gross revenue of N7.38 billion for the nine months ended September 30, 2019. Profit after tax (PAT) stood at N782 million compared with the N601.31 million, indicating a 30 per cent increase.

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 performance showed that the organisation was already reaping the gains of its transformation programme which commenced at the inception of the present management.

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, the Group Managing Director/CEO, Mrs. Olatokunbo Fagbemi said she was delighted that the company was making progress on all fronts.

She said: “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.”

According to her, since the new Management took over, the company had increased the capacity of its export warehouse and is currently renovating its import warehouse.

NAHCO said it was 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.