The Nigerian Aviation Handling Company Plc (NAHCO) has announced its strongest financial performance to date, achieving a pre-tax profit of ₦18.7 billion for the fiscal year 2024. This remarkable milestone represents a doubling of its previous profit figures and underscores the company's commitment to excellence and growth.
NAHCO's revenue surged by an impressive 88.5% to ₦53.54 billion, surpassing projections and setting the stage for its ambitious five-year growth plan. The company aims to achieve a revenue target of ₦300 billion by 2029, leveraging investments and emerging opportunities across its diverse business segments.
The board of directors, led by Chairman Dr. Seinde Fadeni, has recommended a 134% increase in dividend payouts, reflecting the company's dedication to delivering value to its shareholders. The proposed dividend distribution of ₦11.58 billion for 2024 is more than double the ₦4.95 billion distributed in 2023.
Dr. Fadeni expressed confidence in NAHCO's ability to achieve its ambitious goals, stating, "Our five-year strategic business plan is designed to strengthen existing operations while exploring new opportunities. This is just the beginning of delivering bumper returns to our investors."