NAHCO net profit jumps 40% to N18bn

By Chukwuma Umeorah

Nigerian Aviation Handling Company (NAHCO) Plc grew net profit by about 40 per cent to N18 billion in the 2025 financial year, supported by higher revenue, improved operating margins and tighter cost control.

The company’s unaudited results filed with the Nigerian Exchange (NGX) show that its profit after tax (PAT) rose to N17.999 billion in the year ended December 31, 2025, from N12.865 billion a year earlier, while profit before tax increased by 30 per cent to N24.256 billion from N18.702 billion. Earnings per share climbed 40 per cent to N9.24 from N6.60.

Commenting on the performance, Group Managing Director of NAHCO, Olumuyiwa Olumekun, said the 2025 outcome reflected the company’s strategy. “Our 2025 results show we remain firmly on track. We have invested so much in recent period in upscaling our equipment and human capacity, and this is evident in the services and results that we are getting. We remain committed to sustaining our leadership as the most preferred total logistics group, supporting the nation’s economic growth while ensuring improving returns to our shareholders,” he said.

Revenue rose 21.8 per cent to N65.21 billion in 2025 from N53.54 billion in 2024. Gross profit increased to N38.61 billion from N33.08 billion, while administrative expenses were largely flat at N13.89 billion compared with N13.82 billion in the prior year. Operating profit rose 25 per cent to N24.84 billion from N19.84 billion.

The stronger earnings improved margins and returns. Operating profit margin edged up to 38.08 per cent from 37.05 per cent, while pre-tax margin rose to 37.2 per cent from 34.9 per cent. Return on assets increased to 45.02 per cent from 34.93 per cent, and return on equity improved to 67.93 per cent from 64.08 per cent.

The results also strengthened dividend capacity.

Despite a 134 per cent increase in dividend per share for the 2024 financial year, dividend cover improved to 1.56 times in 2025 from 1.11 times a year earlier. NAHCO paid N11.58 billion as cash dividends for 2024, equivalent to N5.94 per share, compared with N4.95 billion paid for 2023.

On the balance sheet, total assets increased to N53.88 billion from N46.95 billion, while shareholders’ funds rose 32 per cent to N26.497 billion from N20.075 billion, reflecting higher retained earnings.