The Nigerian Aviation Handling Company Plc (NAHCO) recorded a 166.7% surge in profit after tax to N8.88bn for the half-year ended June 30, 2025, driven by robust revenue growth and operational efficiency.
According to the firm’s unaudited financial statement filed with the Nigerian Exchange on Thursday, group revenue rose by 102.06%, from N16bn in H1 2024 to N32.33bn in the same period this year. Gross profit climbed 117.7% to N19.16bn, compared to N8.8bn in the corresponding period last year.
Operating profit also grew significantly, up 126.9% to N11.64bn from N5.13bn, while profit before tax rose 148.2% to N11.79bn from N4.75bn. Earnings per share jumped to N4.55 from N1.71 recorded in H1 2024.
Profitability ratios showed marked improvement: gross profit margin increased to 59.26% (from 55%), operating profit margin rose to 36% (from 32.06%), and pre-tax profit margin grew to 36.5% (from 29.7%). Return on assets more than doubled to 20.14%, while return on equity rose to 51.09% from 16.59%.
The strong first-half performance puts NAHCO on track to surpass its 2024 full-year results. Last year, the company posted a profit before tax of N18.70bn—more than double the N8.68bn recorded in 2023—as revenue rose to N53.54bn from N28.40bn.
Reflecting improved operational performance, gross profit in 2024 reached N33.08bn (up from N15bn), while operating profit climbed to N19.84bn from N8.86bn. The company also declared a 134% increase in dividends for 2024, disbursing N11.58bn (N5.94 per share) compared to N4.95bn in 2023.
NAHCO Chairman, Seinde Fadeni, said the company is executing a five-year strategic plan targeting over N300bn in revenue.
“We are implementing a growth strategy that strengthens our core operations and expands into new business areas,” he said. “Our investments in equipment, technology, and employee welfare are central to this plan.”
Fadeni noted that staff salaries had been increased by 50%, and the company is deploying Oracle ERP and HCM systems to support its digital transformation agenda. He also confirmed ongoing efforts to replace all ageing equipment by December 2025.
Group Managing Director, Olumuyiwa Olumekun, highlighted recent milestones, including the launch of the NAHCO Export Packaging and Processing Centre in Lagos and recertification of major stations in Lagos, Abuja, and Kano.
“The export centre, a first in Nigeria, positions our local products for global competitiveness,” he said.
Olumekun added that NAHCO will focus on four strategic priorities—equipment upgrade, digitisation, ESG, and diversification—to sustain growth and deliver long-term value.
“We’re evolving from a ground handling firm into a diversified logistics group,” he said, while expressing gratitude to shareholders, employees, and customers for their continued support.
 recorded a 166.7% surge in profit after tax to N8.88bn for the half-year ended....){kind=link}