Nigerian Aviation Handling Company Plc (NAHCO), a Nigeria-based aviation services provider, has reported a significant 85 percent increase in after-tax profit for the nine months of 2024, mainly due to finance income. The after-tax profit surged to N9.18 billion from N4.96 billion in the same period of 2023. A closer look shows that the company recorded a finance income of N109.3 million compared to a negative N4.12 million in the previous review period. Revenue also saw a substantial increase to N33.9 billion in the nine months of 2024 from N18.5 billion in 2023.
During the company’s ‘bell ringing and facts behind the figures’ event in Lagos, Sola Obabori, the group executive director of international business and corporate services, revealed that NAHCO Plc aims to achieve a total group revenue target of N300 billion over the next five years. He outlined a revenue projection of N38.49 billion by the end of 2024, N71.12 billion in 2025, N101.93 billion in 2026, N146.07 billion in 2027, N209.34 billion in 2028, and the ultimate goal of N300 billion by 2029.
NAHCO is focusing on building a new strategy centered around four core pillars, including accelerating business growth, ensuring operational excellence, leading with digital solutions, and enhancing the company’s people and culture. The projected revenue contributions from various segments include N120 billion from Ground Handling, N40 billion from Cargo Handling, N36 billion from NAHCO Logistics Services, and N15 billion, N80 billion, N7 billion, and N2 billion from other subsidiaries.
The company’s commitment to operational efficiency and performance improvement is evident in its recent contract renewal with Emirates Airlines to provide Passenger and Cargo Ground Handling services at Lagos Airport. This reaffirms NAHCO’s dedication to delivering exceptional services and solidifies its position as a trusted partner in Nigeria’s aviation industry.
The leadership at NAHCO expressed gratitude for the renewed partnership, emphasizing the importance of maintaining high service standards and strengthening relationships with key airline partners. They reiterated their commitment to delivering world-class services that exceed expectations and set new benchmarks for ground handling in Nigeria.
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