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The Nigerian Aviation Handling Company (NAHCO) Plc at the weekend assured its shareholders that the ongoing implementation of a strategic five-year growth plan will lead to a more agile and profitable company.
At the annual general meeting in Kano, directors of NAHCO outlined strategic growth objectives, key implementation drives, challenges and transformational initiatives being taken to sustain the company as the leading ground handling company with sustainable returns to shareholders.
At the first general meeting by the new board and management of the company, directors of the company outlined that it has launched a new five-year strategy and transformation plan that covers 2019 and 2023, which is expected to drive growth, service improvement, improved profitability and also ensure that NAHCO maintains its leadership position, despite increasing competition in the ground handling business.
The assurance came as shareholders approved the distribution of N406 million as cash dividend for the 2018 business year, representing a dividend per share of 25 kobo.
Chairman, Nigerian Aviation Handling Company (NAHCO) Plc, Dr Seinde Fadeni, said the new board and management have reset the companys group structure and operations and have started implementing key initiatives to address cost structure, realign products and interface with customers and other stakeholders with a view to ensuring optimal performance in the years ahead.
He said the company has started modernisation of its warehouses in order to position itself for global changes in cargo handling and management, noting that NAHCO is currently investing in warehouse refurbishment, facility and equipment upgrade to ensure leadership in all areas of air cargo within the West and Central African region.
He pointed out that while increased costs of operations and administrative expenses impacted the company’s performance in 2018, the new management has been addressing these cost centres to ensure improved efficiency and competitive returns.
It is my belief that our company will grow more rapidly in the coming years in light of the measures and innovations being implemented, Fadeni said.
