NAHCO generates N7.38bn revenue in 9 months

THE Nigerian Aviation Handling Company Plc (nahco aviance) has posted a gross revenue of N7.38 billion for the nine-month period ended September 30, 2019 with the company subsequently posting a profit before tax of N973.1 million for the Q3 ended September 30, 2019.
The figure, according to the company, was N241.3 million higher than the amount for the same period last year (which represents 32.96 per cent 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, translating to a positive 30 per cent increase.
The performance released by the company 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.
Earnings per share stood at 48 kobo as at the end of the third quarter of 2019 compared to 37 kobo as earnings per share as at the end of the third quarter of 2018.
The board of the company appointed a new management for the company which early this year embarked on a five-year transformation plan.
Commenting on the results, the Group Managing Director/CEO, Mrs. Olatokunbo Fagbemi, said: “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.”