NAHCO Records Profit Of N8.88bn In H1

Nigerian Aviation Handling Company (NAHCO) Plc rode on the back of a double in revenue and improving operating efficiency to leapfrog its net profit by 166.7 per cent to N8.88 billion in the first half of this year.

Interim report and accounts of NAHCO for the half-year ended June 30, 2025, released at the Nigerian Exchange (NGX), showed that the aviation handling group doubled group revenue by 102.06 per cent to N32.33 billion in the first half of 2025 as against N16.0 billion recorded in the comparable period of 2024. Gross profit grew by 117.73 per cent from N8.80 billion to N19.16 billion. Operating profit jumped by 126.9 per cent to N11.64 billion in the first half of 2025 as against N5.13 billion in the first half of 2024.

With improving midline cost management, pre-tax profit leapt by 148.21 per cent from N4.75 billion in first half 2024 to N11.79 billion in first half 2025. Net profit after tax rose by 166.7 per cent from N3.33 billion to N8.88 billion. With these, earnings per share (EPS) leapt from N1.71 in first half 2024 to N4.55 in first half 2025, providing significant headroom for possible increase in dividend payouts.

Chairman of NAHCO, Dr. Seinde Fadeni, reiterated the company’s commitment to further diversifying its businesses as part of strategies to drive the group’s revenue above N300 billion within the next five years.

He said the company’s five-year growth strategy would enhance existing businesses and diversify into other emerging opportunities.

He said the board and management are completely focused on implementing the company’s five-year strategic blueprint, which would drive the group’s next phase of growth.

He said the company has continued strengthening its position as the market leader in aviation ground handling while diversifying into new opportunities.

According to him, the company is undergoing a transformative change that has seen improvements in operating strategy, equipment, staff welfare, and management, as well as significant investments in technical know-how and new opportunities.

Fadeni said NAHCO has demonstrated remarkable resilience despite challenges in the operating environment, adding that the company has been positioned for an even more rewarding future.

He said the company plans to deepen its diversification by building a hotel and growing its commodities export business.

The group managing director of NAHCO, Olumuyiwa Olumekun, highlighted some operational achievements in the past year, including the company’s recertification in three major stations: Lagos, Abuja, and Kano and the commissioning of a new NAHCO Export Packaging and Processing Centre in Lagos.

According to him, the new centre, the first of its kind in Nigeria, was a strategic move to enhance the competitiveness of Nigerian products globally while creating more jobs for Nigerians.

He outlined that the group would focus on four areas of sustained growth, equipment re-fleeting, digitisation and environmental social governance (ESG) to ensure better performance in the period ahead.

He explained that the group’s diversified nature and the onboarding of new business ventures would ensure that it sustains its growth trajectory.