Connect with us
Advertise With Us


NAHCO Reports N4.64bn Turnover In H1 2018



NAHCO Aviance has posted a turnover of N4.64 billion in the results for the first six months of 2018.

The announcement came on the heels of the publication of a superlative 2018 half year financial performance.

The figure which was disclosed at the weekend is an impressive performance, considering the N3.71 billion posted for the same period last year. The results showed a 25 per cent increase over the same period in 2017. Profit- before- tax (PBT) stood at N500.97 million as against N203.08 million reported as at half year 2017, a 147 per cent increase over last year.

Profit -after – tax (PAT) for the half year 2018 stands at N418.57 million – a 137 per cent increase over the N176.32 million reported for the same period of last year.

In a statement issued at the weekend, the company also revealed that it had signed a series of new contracts with both local and international airlines.

The signings with local airlines, according to NAHCO includes Max Air which has since started smooth operations from Lagos and Kano, and handling of Hajj operations for Medview, one of the largest operators in the country.

Aside handling of international and Hajj operations for Flynas, NAHCO also handles domestic and of recent, regional operations for the nation’s largest operator, Air Peace and Aero World, delivering service to the delight of the airlines.

Speaking on the strides achieved in recent times by the company, managing director/CEO, Mr. Idris Yakubu, who took over as CEO in November 2017, said it was a result of growing faith in the new management that has superintended the affairs of the company during the period.

According to him, “We are pleased with the patronage of our valued clients, the airlines and the agents, as well as the contributions of our hardworking and dedicated staff to this very positive result. Management is committed to staff welfare and will continue the negotiation of the staff condition of service, and conclude before the current booklet expires end September 2018.”

He said management’s commitment to staff welfare led NAHCO to be adjudged as one of the Top 100 Best Places to work in Nigeria in 2018 by highly- rated Jobberman. Yakubu further stated that shareholders should look forward to sustained profit performance at year end, on the back of the strong showing of the first half of 2018.

The company recently concluded its AGM in Abuja where shareholders approved of its plans to acquire new ground support equipment (GSE).

Yakubu had impressed on the board and the company’s shareholders of the necessity for the equipment to enable the company better serve its clients.