NAHCO declares N16.04bn profit in nine months

The ​‌‌‍​‍⁠⁠‍‌⁠⁠‌​⁠‍‌‌​results showed that revenue grew by 16.51 per cent to N55.64 billion, compared with N47.76 billion recorded in the corresponding period of 2025.

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

Similarly, profit before tax grew by 18.39 per cent to N21.24 billion, compared with N17.94 billion in the corresponding period of 2025.

Earnings per share also increased by 19.2 per cent to N7.20 from N6.04.

The report attributed the growth in profitability to improved revenue, higher operating margins and effective cost management, in spite of a decline in finance income.

Finance costs declined by 19.7 per cent to N1.26 billion from N1.57 billion, while finance income dropped to N834 million from N1.37 billion.

A breakdown of revenue showed that cargo handling grew by about 31 per cent, reflecting increased trade and e-commerce activities.

Revenue from free zone, transhipment, logistics, ticketing and lounge services rose by 47.17 per cent to N2.91 billion.

Equipment rental and maintenance generated N4.45 billion.

The report further showed that NAHCO’s total assets increased to N58.85 billion in September 2026 from N55.12 billion in December 2025.

Shareholders’ funds also rose to N29.86 billion from N26 billion, while return on equity improved to 53.72 per cent from 51.77 per cent.

The company’s dividend prospects also received a boost, with dividend cover rising to 1.15 times from 0.97 times in the corresponding period of 2025.

NAHCO shareholders had in May approved a cash dividend of N12.18 billion for the 2025 financial year, representing N6.25 per share, compared with N11.58 billion or N5.94 per share, paid for 2024.

They also received one bonus share for every seven ordinary shares held, increasing the company’s outstanding shares by 14.3 per cent.

Commenting on the performance, Dr Seinde Fadeni, Chairman of NAHCO, said the results demonstrated the resilience of the company’s business strategy and its position in the aviation services industry.

Fadeni said the company had continued to invest in human, technical and infrastructural capabilities to sustain its operations and leadership in aviation handling and logistics.

He assured shareholders that the board remained committed to translating corporate growth into improved returns on investment.

“We are confident about the outlook for the aviation industry and our business.

“We remain focused on our strategic plan on sustainability and diversification.

“We will continue to explore opportunities to grow the business and deliver competitive returns to our stakeholders,” he said.

Also, Mr Olumuyiwa Olumekun, Group Managing Director of NAHCO, said the performance reflected management’s focus on quality growth, business expansion and cost efficiency.

Olumekun attributed the revenue growth to improvements across the company’s aircraft handling, cargo operations and related businesses.

He said the growth was also supported by lower administrative expenses and finance costs.

He said the company remained committed to sustaining its growth trajectory and delivering value to shareholders.