NAHCO records 166.7 net profit growth in first half of 2025

Nigerian Aviation Handling Company (NAHCO) Plc posted a strong financial performance in the first half of 2025, with net profit after tax rising by 166.7 percent to N8.88 billion, up from N3.33 billion in the same period last year.

The company also reported a 102.06 percent jump in group revenue, which reached N32.33 billion compared to N16 billion in the first half of 2024.

According to its half-year financials released on the Nigerian Exchange (NGX), NAHCO’s gross profit surged by 117.73 percent from N8.80 billion to N19.16 billion, while operating profit grew by 126.9 percent to N11.64 billion. With tighter cost controls, pre-tax profit rose by 148.21 percent to N11.79 billion from N4.75 billion in the same period of 2024. Consequently, earnings per share increased from N1.71 to N4.55.

Key performance ratios further highlighted operational efficiency. Gross profit margin rose from 55 percent to 59.26 percent, operating profit margin increased from 32.06 percent to 36 percent, and pre-tax profit margin improved from 29.7 percent to 36.5 percent. Return on total assets grew from 7.09 percent to 20.14 percent, while return on equity leapt to 51.09 percent from 16.59 percent.

These results come on the heels of a robust full-year 2024 performance, in which NAHCO recorded a 115.4 percent rise in pre-tax profit to N18.70 billion and an 88.5 percent increase in revenue to N53.54 billion. Gross profit and operating profit for the year had also risen by over 120 percent each.

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Seinde Fadeni, chairman, credited the strong results to the ongoing implementation of a five-year growth plan aimed at driving group revenue beyond N300 billion. He noted the company is undergoing a transformative phase marked by diversification, investments in new technology, and improved staff welfare, including a 50 percent salary increase and performance-based bonuses.

Fadeni revealed that the company is investing in new business areas, including a hotel and the expansion of its commodities export arm. He also highlighted the implementation of Oracle ERP and HCM systems to boost efficiency. “The company continues to adapt and push forward, maintaining operational excellence and delivering increased value to shareholders,” he said.

The company’s Industry Champions Award from the Nigerian Civil Aviation Authority (NCAA) was cited as recognition of its leadership in aviation services, governance, and profitability. NAHCO also recently commissioned Nigeria’s first Export Packaging and Processing Centre in Lagos to boost the competitiveness of local products globally.

Olumuyiwa Olumekun, Group Managing Director, said the group would focus on equipment re-fleeting, digital transformation, ESG, and new business development to sustain growth. “We are evolving from a ground handling company to a diversified logistics group with a mission to consistently deliver world-class service,” he said.

Olumekun commended shareholders, customers, and staff for their support, assuring them of even stronger performance in the future.

Hope Moses-Ashike

Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks. She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings. Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.