NAHCO Target N35 Billion Turnover In Five Years

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L – R show Mr. Olumide Bolumole, Divisional Head, Listing Business, The Nigerian Stock Exchange (NSE) presenting a replica of the closing gong to Mrs. Olatokunbo Fagbem Group Managing Director/CEO, NAHCO Plc during the Facts Behind the Figures presentation to the capital market stakeholders at the Exchange in Lagos.

Nigerian Aviation Handling Company Plc has said it plans to achieve a total turnover of N35bn in five years. The Group Managing Director, NAHCO, Mrs Olatokunbo Fagbemi, while speaking at the company’s Facts Behind the Figures in Lagos, said the group planned to grow its profit by 323.3 per cent to N2.13bn as the ongoing strategic initiatives would deliver significant growth over the next five years.

She said new investment in ground support equipment, strategic investments in infrastructure and human capital development and improving operational efficiency at the airports would drive considerable growth this year and the years ahead.

Fagbemi said the company would achieve a turnover of N13.27bn in 2019 as against N9.88bn in 2018, while profit before tax is expected to rise from N503m in 2018 to N2.13bn in 2019. She projected that profit after tax would rise to N1.81bn.

She said, “Over the next five years, the company expects its revenue to rise steadily from N9.8bn in 2018 to N13.269bn in 2019, N16.916bn in 2020, N21.567bn in 2021, N27.495bn in 2022 and N35.054bn in 2023”.

The company is confident of paying nothing less than 25 kobo dividend per share this year. We expect to see a significant impact of the transformation agenda on performance as from the third quarter, given the seasonal nature of the aviation business.

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