By Chinelo Obogo
The Nigerian Aviation Handling Company Plc (Nahcoaviance) has said that its shareholders will receive N11.58 billion as dividend for the 2024 financial year.
The announcement comes ahead of the 44th Annual General Meeting of NAHCO slated for Friday (today), just as shareholders commended its performance.
The accolades followed the declaration of the financial year 2024 audited results, where profit before tax soared by 115.4 per cent to N18.70 billion in 2024 as against N8.68 billion in 2023.
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 increased by 120.53 per cent to N33.08 billion in 2024 as against N15 billion in 2023. The document showed that the company 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.
The board of directors affirmed that it recommended distribution of N11.58 billion as cash dividends to shareholders for the 2024 business year based on the result, more than double of N4.95 billion distributed for the 2023 business year. The Q1, 2025 unaudited results of the Company submitted to the Nigerian Exchange (NGX), has also revealed that the Company is set to outperform the Q1, 2024 results with Q1, 2025 as revenue more than doubled the 2024 figure for the same period. A statement by the Company pointed out that contract renewal with clients has been concluded at the rate of 95 percent while new clients have been onboarded.