The Nigerian Aviation Handling Company (NAHCO) Plc said it is increasing dividend payout to shareholders by 134 per cent, riding on the back of record revenue and profitability.
The latest audited report and accounts of NAHCO, for the year ended December 31, 2024, released at the Nigerian Exchange (NGX), showed that the company recorded well-rounded performance with both actual and underlying performance indicators at their highest levels.
Both the profit and loss accounts and the balance sheet indicated strong performance outlook.
Total revenue rose by 88.5 per cent from N28.40 billion in 2023 to N53.54 billion in 2024. With increased top-line efficiency, gross profit doubled by 120.53 per cent to N33.08 billion in 2024 as against N15 billion in 2023.
Operating profit also jumped by 123.93 per cent from N8.86 billion to N19.84 billion, underscoring the fact that the group’s performance was driven mainly by core business operations.