The Nigerian Aviation Handling Company (NAHCO) is gearing up for its 44th Annual General Meeting (AGM), scheduled to hold on Friday, May 23, 2025.
According to sources, NAHCO’s profit before tax soared from 115.4% to N18.70 billion in 2024, up from N8.68 billion in 2023. The company’s total revenue has also experienced a significant surge, rising by 88.5% from N28.40 billion in 2023 to N53.54 billion in 2024. This growth has led to a 120.53% increase in gross profit, which stood at N33.08 billion in 2024, compared to N15 billion in 2023. Operating profit has also jumped by 123.93% from N8.86 billion to N19.84 billion, underscoring the fact that the group’s performance was driven mainly by core business operations.
Based on these results, the Dr. Seinde Fadeni-led board of directors has recommended the distribution of N11.58 billion as cash dividends to shareholders for the 2024 business year, more than double the N4.95 billion distributed for the 2023 business year. The company’s Q1 2025 unaudited results have also revealed a promising outlook, with revenue more than doubling the 2024 figure for the same period.
Shareholders like Mr. Moses Igbrude, National Coordinator of the Independent Shareholders Association of Nigeria (ISAN), have expressed their delight with the company’s performance: “NAHCO has done fantastically well. It has outperformed investors’ expectations. The present board and management are running the business very well,” he said. Dr. Faruk Umar, President of the Association for the Advancement of Rights of Nigerian Shareholders (AARNS), also commended the company’s impressive performance, citing its robust financial results and impressive dividend declaration.
Another shareholder, Mrs. Efunyemi Olatunde Obideyi, Chairman of the Ark of God Shareholders Association, could barely hide her excitement as she qually praised the company’s performance: “The profit has been awesome. Since the new investor came on board, the company has been on the upward swing. The performance has been excellent,” she said, adding that, NAHCO has surprised shareholders by its performance, “The jump in the share price from N4 per share to N85.00 was unimaginable”, she said.
