NAHCO’s Revenue Rises 16.5% To N55.64bn In Nine Months

Nigerian Aviation Handling Company (NAHCO) Plc recorded a 16.51 per cent increase in revenue to N55.64 billion in the nine months ended September 30, 2026, from N47.76 billion in the corresponding period of 2025.

The company’s interim report and accounts, released on the Nigerian Exchange (NGX), showed that growth was driven by improved performance across its business segments, reflecting increased demand for its aviation handling and logistics services.

Gross profit rose by 8.5 per cent from N25.97 billion to N28.17 billion, while operating profit increased by 19.5 per cent from N18.14 billion to N21.66 billion, supported by improved operating margins and cost management.

A breakdown of the revenue showed that aircraft handling remained the company’s core business, while cargo handling recorded about 31 per cent growth, reflecting increased trade and e-commerce volumes.

Revenue from free zone, transhipment, logistics, ticketing and lounge services jumped by 47.17 per cent to N2.91 billion, while equipment rental and maintenance generated N4.45 billion during the period.

The company also recorded a decline in finance costs, which fell by 19.7 per cent from N1.57 billion to N1.26 billion. However, finance income dropped by 39.1 per cent from N1.37 billion to N834 million.

Despite the decline in finance income, profit before tax increased to N21.24 billion from N17.94 billion in the corresponding period of 2025, while net profit rose by 19.2 per cent from N13.46 billion to N16.04 billion.

Earnings per share also improved to N7.20 from N6.04, indicating stronger returns to shareholders.

The growth in revenue and profitability further strengthened the group’s balance sheet, with total assets rising from N55.12 billion in December 2025 to N58.85 billion in September 2026. Shareholders’ funds also increased from N26 billion to N29.86 billion.

However, gross profit margin declined from 54.38 per cent to 50.63 per cent amid inflationary pressures, while operating profit margin improved from 37.98 per cent to 38.9 per cent. Pre-tax profit margin also rose from 37.56 per cent to 38.17 per cent.

Chairman of NAHCO, Dr Seinde Fadeni, said the third-quarter performance demonstrated the group’s leadership in the aviation services industry and the resilience of its business strategy.

He said the company had continued to invest in human, technical, and infrastructural capabilities to sustain its position as the most preferred and largest aviation handling and logistics group in West Africa.

The Group Managing Director, Mr Olumuyiwa Olumekun, said the performance reflected the outcome of management’s emphasis on quality growth, business expansion, cost control and returns.

“Our performance highlights the quality of service and facilities that NAHCO has come to be known for. We remain committed to sustaining this growth trajectory and in ensuring that our shareholders continue to enjoy the benefit of their investments,” Olumekun said.