Chinelo Obogo, Lagos
Nigerian Aviation Handling Company Plc (NAHCO Aviance) has posted a gross revenue of N7.38 billion for the nine-month period which ended September 30, and has announced Profit After Tax increase of 30 percent compared to the same period in 2018.
The company’s performance released to the Nigerian Stock Exchange (NSE) showed that the organisation was already reaping from the gains of its transformation programme which commenced at the inception of the present management.
According to the performance, NAHCO posted a Profit Before Tax of 973.1 million for the Q3 ended September 30, 2019.
This figure is N241.3million higher than the amount for the same period last year for Nigeria’s foremost ground handling company, representing a 32.96 percent increase over the same period last year.
Profit After Tax which stood at N782 million for the nine-month period compared favourably with the N601.31 million recorded for the same period in 2018. This translates to a positive 30 percent increase.
Earnings per share stood at 48 kobo as at the end of the third quarter of 2019 compared to 37kobo as earnings per share as at the end of the third quarter of 2018.
Commenting on the results, the Group Managing Director, Mrs Olatokunbo Fagbemi, said she was delighted that the company was making progress on all fronts.
“NAHCO is in a good place. Apart from being the industry leader in ground handling in West Africa, we are also providing leadership in supporting our partners, the Cargo agents, in the important skills of packaging for export,” she said.
NAHCO management said it is also taking advantage of opportunities emanating from Federal Government’s closure of the land borders as it is partnering stakeholders on proper packaging for their products for exports.