NAHCO reported an 85% rise in after-tax profit to ₦9.18 billion for the first nine months of 2024, driven by finance income.
The company also unveiled a five-year plan to achieve ₦300 billion in revenue by 2029.
The Nigerian Aviation Handling Company Plc (NAHCO) has achieved an impressive 85 per cent surge in after-tax profit for the first nine months of 2024, thanks to a significant rise in finance income.
The company boosted its profit to ₦9.18 billion from ₦4.96 billion in the same period of 2023.
Furthermore, finance income jumped to ₦109.3 million, reversing a negative ₦4.12 million recorded last year.
Meanwhile, revenue also experienced substantial growth, climbing to ₦33.9 billion from ₦18.5 billion in 2023.
NAHCO’s Five-Year Plan
During the company’s “Bell Ringing and Facts Behind the Figures” event in Lagos, Group Executive Director for International Business and Corporate Services, Sola Obabori, unveiled NAHCO’s ambitious five-year growth plan.
Specifically, the company aims to generate ₦300 billion in group revenue by 2029.
For instance, projections include ₦38.49 billion for 2024, increasing to ₦209.34 billion by 2028.
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Moreover, Ground Handling, Cargo Handling, and NAHCO Logistics Services will serve as key drivers, contributing ₦120 billion, ₦40 billion, and ₦36 billion, respectively.
To ensure success, NAHCO has embraced a forward-thinking strategy.
Not only does this plan focus on accelerating growth and enhancing operational excellence, but it also prioritises leveraging digital innovation and transforming organisational culture.
In addition, NAHCO renewed its contract with Emirates Airlines in September to provide passenger and cargo ground handling services at Lagos Airport.
This renewal, which followed Emirates’ return to Nigeria, reaffirmed NAHCO’s position as a trusted aviation partner.
“Our ongoing partnership with Emirates underscores our commitment to delivering world-class services,” said Group Executive Director for Commercial and Business Development, Saheed Lasisi.
With its ambitious plans and unwavering focus, NAHCO continues to set the standard in Nigeria’s aviation industry.
