NAHCO’s Q4 revenue hits N10.14bn, gets Carbo Verde airline deal
Nigerian Aviation Handling Company ‘s (NAHCO) fourth quarter revenue for the period ended 31 December 2019, increased 3.25percent to N10.14 billion from N9.82 billion in same period in 2018.
Operating cost stood at N6.54billion from N6.65billion, leaving gross profit at N3.6bn from N3.16bn in 2018.
Selling and administrative expenses dropped to N2.53bn from N2.93billion.Profit after tax for the period ballooned to N1.04bn from N196.79million
Revenue from its passenger and aircraft handling for full year 2019 stood at N5.5 from N5.39bn. This is the incone from passenger handling includes invoices raised for check in formalities, passenger profiling, security and baggage handling (loading and offloading)
revenue from leasing was N262 million from N276million in 2018. The subsidiary, NFZ ltd is into the leasing of properties and heavy duty equipments
Revenue from cargo handling stood at N3.95bn from N3.76bn in 2018. These include invoices raised for; cargo documentation services for airlines, import and export cargo facillitation through Nigeria’s biggest network of customs bonded warehouses in Lagos, Kano, Abuja and Port-harcourt, Kaduna and Enugu, using Galaxy computerisation system, which ensures safe storage and easy retrieval of cargoes.
Revenue from equipment rental and maintenance stood at N424.89 million from N387.58million. The Company leases its equipment to airlines for services that are not covered in the Standard Ground Handling Agreement.
The national airline of Cape Verde, Cabo Verde Airlines, recently appointed NAHCO, to handle its operations in Nigeria.
The Nigerian Aviation Handling Company Plc (nahco aviance) was founded in December 1979, and has since grown into a multi – billion naira company with diversified investments in energy, logistics and development of a free trade zone.