NIGERIAN AVIATION HANDLING COMPANY PLC RELEASED 2021 HALF-YEAR RESULTS
Nigerian Aviation Handling Company Plc (NAHCO) has announced its results for the period ended 30th June 2021. The company declared revenue of NGN4.7 billion, up from NGN3.6 billion posted a year ago. Import cargo handling and passenger/aircraft handling accounted for the bulk of revenue. Import cargo handling produced NGN2.2 billion or 47.5% of total revenue while passenger/aircraft brought in NGN2 billion or 41.4% of total revenue. NAHCO made profit in the current period as opposed to the corresponding period of last year when both Profit Before Tax and Profit After Tax were negative.
- All revenue sources improved
All revenue sources of NAHCO improved in the 2021 half-year compared to the half-year of 2020. Import cargo handling grew revenue by 24% year-over-year while passenger/aircraft handling leaped by 40.2%. Revenue from other sources climbed 63.8% over the last half-year's figure.
- Profitability got better
NAHCO posted a Profit Before Tax of NGN646.4 million in the first six months of the current year as opposed to the commensurate period last year when a Loss Before Tax of NGN180 million was recorded. Profit After Tax was NGN504.9 million as at 30th June 2021 compared to a Loss After Tax of NGN143.2 million at half-year ended 30th June 2020.
ABOUT NIGERIAN AVIATION HANDLING COMPANY PLC
NAHCO was set up by the Federal Government of Nigeria in December 1979. It was later privatised by the government; Godsmart Nigeria Limited has the highest shareholding of 27%. The transport-related services provided by NAHCO include cargo handling, aircraft handling and passenger handling. NAHCO has branched out into energy and leasing. The subsidiaries of NAHCO are NFZ Limited, Mainland Cargo Options Limited and NAHCO Energy, Power & Infrastructure Limited.