The Nigerian Aviation Handling Company (NAHCO) Plc has reported an 18.39 per cent increase in profit before tax to N21.24 billion for the nine months ended September 30, 2026, driven by revenue growth and improved cost management.
The company’s interim financial report released on the Nigerian Exchange (NGX) showed that revenue increased by 16.51 per cent to N55.64 billion, compared with N47.76 billion recorded in the corresponding period of 2025.
Operating profit also rose by 19.5 per cent to N21.66 billion, while net profit increased by 19.2 per cent to N16.04 billion from N13.46 billion. Earnings per share grew by 19.2 per cent to N7.20, compared with N6.04 in the previous year.
Gross profit increased by 8.5 per cent to N28.17 billion from N25.97 billion, while finance costs declined by 19.7 per cent to N1.26 billion. However, finance income dropped by 39.1 per cent to N834 million from N1.37 billion.
Chairman of NAHCO, Dr Seinde Fadeni, said the performance reflected the group’s leadership in the aviation services industry and the resilience of its business strategy.
He attributed the company’s sustained growth to investments in human resources, technical capabilities and infrastructure, which have strengthened its position as a leading aviation handling and logistics group in West Africa.
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Fadeni reaffirmed the board’s commitment to translating business growth into improved shareholder returns, adding that the company remained optimistic about the aviation industry’s outlook.
He said NAHCO would continue to pursue its sustainability and diversification strategy while exploring opportunities to expand its operations and deliver competitive returns to stakeholders.
Similarly, the Group Managing Director, Olumuyiwa Olumekun, said the results reflected management’s focus on quality growth, business expansion, cost control and improved returns.
He attributed the revenue increase to improved performance across aircraft handling, cargo operations and related businesses, supported by lower administrative expenses and finance costs.
According to the report, cargo handling grew by approximately 31 per cent, reflecting increased trade and e-commerce volumes.
Revenue from free zone, transhipment, logistics, ticketing and lounge services rose by 47.17 per cent to N2.91 billion, while equipment rental and maintenance generated N4.45 billion.
Olumekun said the company remained committed to maintaining its service standards and sustaining growth for the benefit of shareholders.
The strong performance has also strengthened NAHCO’s dividend position. Its dividend cover for the nine months stood at 1.15 times, compared with 0.97 times in the corresponding period of 2025, providing additional room for potentially higher payouts.
At its annual general meeting in May 2026, shareholders approved a combination of cash dividends and bonus shares for the 2025 financial year.
NAHCO paid N12.18 billion in cash dividends for 2025, representing an increase from N11.58 billion paid for 2024. Dividend per share also rose to N6.25 from N5.94.
