The Nigerian Aviation Handling Company Plc (NAHCO) has recorded a 22.2 percent increase in net profit for the first half of 2026, driven by higher revenue and operating profit.
Key Highlights:
The company, in its unaudited financial results for the six-month period, reported gross revenue of N35.36 billion, representing a 9.4 per cent increase from N32.33 billion recorded in the corresponding period of 2025.
Operating profit also rose by 25.4 per cent from N11.64 billion in H1 2025 to N14.59 billion in H1 2026.
Profit before tax increased by 21.8 per cent to N14.37 billion from N11.79 billion recorded in the same period last year.
After tax, NAHCO’s net profit climbed from N8.88 billion in H1 2025 to N10.85 billion in H1 2026, representing a 22.2 per cent increase.
The improved performance also lifted the company’s adjusted basic earnings per share from N4.55 in H1 2025 to N4.87 in H1 2026.
The company said the earnings provided sufficient headroom for cash dividend payments despite an increase in outstanding shares following the bonus shares distributed for the 2025 financial year.
NAHCO shareholders had at the company’s Annual General Meeting in May approved a combination of cash and bonus shares as dividend for the 2025 business year.
The company increased its cash dividend to N12.18 billion for 2025 from N11.58 billion paid for 2024, with shareholders receiving N6.25 per share compared to N5.94 per share in the previous year.
Shareholders also received one ordinary share of 50 kobo each for every seven ordinary shares held as bonus shares, representing a 14.3 per cent increase in their holdings.
The bonus issue increased NAHCO’s paid-up shares from 1.949 billion ordinary shares of 50 kobo each to 2.228 billion shares.
Commenting on the H1 2026 performance, NAHCO Chairman, Dr Seinde Fadeni, said the results demonstrated the resilience of the company’s operating structure and the continuing benefits of its investments in critical assets.
Fadeni said the company had remained proactive in exploring ways to sustain its position as a leading aviation handling group.
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He said investments in warehouses, ground handling equipment, human capital and other areas had strengthened the company’s ability to adapt to macroeconomic changes while taking advantage of emerging growth opportunities.
“Our first half 2026 results further confirm our assurance on sustainability of our growth model. We have not seen growth on growth every year but also period on period, showing that we are not growing in bits but steadily through the entire operations,” Fadeni said.
He added that NAHCO was confident of maintaining its leadership position through improved services to stakeholders.
“As Nigerian aviation industry opens up further to global opportunities, NAHCO’s strategic focus on growth, diversification and sustainability would ensure stronger performance and returns to our shareholders,” he said.
The Group Managing Director of NAHCO, Olumuyiwa Olumekun, said the company had continued to leverage its operating model, service quality and resilience to mitigate risks and sustain growth.
According to him, the H1 2026 results demonstrate management’s focus on quality expansion, ensuring that growth is reflected not only in the size of operations but also in returns to shareholders.
“We are focused on our strategy of diversification, operational excellence and quality growth. We continue to invest in automation and human technical capabilities while expanding our nationwide storage and warehousing facilities.
“Our preference by industry stakeholders is built on both availability and quality. We remain committed to our known service culture of excellence,” Olumekun said.
The latest results build on NAHCO’s strong financial performance in 2025.
The company’s audited financial statements for the year ended December 31, 2025 showed that total revenue increased by 21.8 per cent from N53.54 billion in 2024 to N65.21 billion.
Gross profit rose from N33.08 billion to N38.61 billion, while operating profit increased by 25 per cent from N19.84 billion to N24.84 billion.
Profit before tax also grew by 30 per cent from N18.70 billion in 2024 to N24.26 billion in 2025.
Profit after tax increased by 39.91 per cent from N12.87 billion to N18 billion, while earnings per share rose by 40 per cent from N6.60 to N9.24.
The group’s balance sheet also strengthened during the period, with total assets rising from N46.95 billion in 2024 to N53.88 billion in 2025.
Shareholders’ funds increased by 32 per cent from N20.08 billion to N26.50 billion.
