The Nigerian Aviation Handling Company Plc (NAHCO) has reported a profit after tax of ₦16.04 billion for the nine months ended September 30, 2026, representing a 19.2 per cent increase compared with the ₦13.46 billion recorded during the corresponding period of 2025.
The company’s latest financial performance reflects continued growth in its aviation handling operations, cargo services and other business activities, despite increasing operating expenses and pressure from the prevailing economic environment.
According to its interim financial report released on the Nigerian Exchange, NAHCO’s total revenue increased by 16.51 per cent to ₦55.64 billion from ₦47.76 billion recorded in the same period last year.
The growth in revenue contributed to an improvement in the company’s operating performance, with operating profit rising by approximately 19.5 per cent to ₦21.66 billion from ₦18.14 billion.
Gross profit also increased by 8.5 per cent to ₦28.17 billion, compared with ₦25.97 billion in the corresponding period of 2025.
The company’s profit before tax rose by 18.39 per cent to ₦21.24 billion from ₦17.94 billion, indicating stronger earnings before the deduction of taxes.
Its earnings per share also increased by 19.2 per cent to ₦7.20 from ₦6.04, reflecting an improvement in the earnings attributable to shareholders.
The results demonstrate the company’s ability to increase revenue and maintain profitability through its core aviation-related operations.
A breakdown of the company’s business activities showed that cargo handling remained an important contributor to revenue growth.
Revenue from cargo handling increased by approximately 31 per cent, supported by higher trade and e-commerce activities.
The company’s free zone, trans-shipment, logistics, ticketing and lounge services also recorded strong growth, with revenue from these activities rising by 47.17 per cent to ₦2.91 billion.
Equipment rental and maintenance services generated ₦4.45 billion during the nine-month period, further contributing to the company’s overall earnings.
The growth across these segments highlights NAHCO’s efforts to diversify its revenue sources beyond traditional aircraft handling services.
The company’s financial performance was also supported by a reduction in finance costs.
Finance costs declined by 19.7 per cent to ₦1.26 billion, compared with ₦1.57 billion in the corresponding period of the previous year.
However, operating expenses continued to present a challenge.
Operating costs increased by 26.07 per cent to ₦27.47 billion from ₦21.79 billion, while the company’s gross profit margin declined from 54.38 per cent to 50.63 per cent.
Despite the increase in operating expenses, the company maintained improvements in operating and pre-tax profitability.
NAHCO’s balance sheet also strengthened during the period. Total assets increased to ₦58.85 billion as of September 2026 from ₦55.12 billion recorded at the end of December 2025.
Shareholders’ funds rose to ₦29.86 billion from ₦26 billion, representing an increase of approximately 14.85 per cent.
The company’s cash and cash equivalents, however, declined by 15.03 per cent to ₦9.52 billion from ₦11.21 billion at the end of 2025.
Commenting on the performance, the Chairman of NAHCO, Dr Seinde Fadeni, said the results demonstrated the company’s leadership position in the aviation handling industry and the resilience of its business strategy.
He explained that the company had continued investing in human resources, technical capacity and infrastructure to maintain its competitive position.
The Group Managing Director, Olumuyiwa Olumekun, attributed the revenue increase to improvements across the company’s core operations, cargo handling and additional services.
He also identified disciplined cost management as part of the company’s efforts to sustain its financial performance.
At its annual general meeting in May 2026, shareholders approved a total cash dividend of ₦12.18 billion, equivalent to ₦6.25 per share, alongside a one-for-seven bonus issue.
The latest results will be closely watched by investors assessing the company’s earnings prospects, dividend capacity and position in Nigeria’s aviation services industry.
NAHCO’s performance also highlights the potential benefits of expanding cargo handling, logistics and other aviation-related services as commercial activities and international trade continue to create opportunities for the sector
