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Published On: Thu, Jul 3rd, 2014

AGM: NAHCO grows turnover by 11%, pays 30k dividend

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The Nigerian Aviation Handling Company Plc (NAHCO Aviance) has grown its turnover by 11 per cent from N7.4billion in 2012 to N8.1billion in 2013, the chairman of the company Suleiman Yahyah said at the Annual General Meeting (AGM) on Friday in Abuja.

The company has upped its Profit Before Tax (PBT) by 29 per cent from N853milion in 2012 to N1.123billion in 2013, the chairman said. NAHCO, he said, has also increased earnings per share by 37 per cent. “Accordingly the Board is pleased to recommend a modest increase of 20 per cent in dividend payout from 25 kobo to 30 kobo per share,” he said.

The chairman said the liquidity position and cash flow of the company have been increased.

“Our diversification process is still ongoing. Our Free Trade Zone Licence has been signed by President Goodluck Ebele Jonathan…We are developing a 25 years master plan for NAHCO FTZ in that direction this year,” he said.

Earlier he said NAHCO was ready to help Nigeria move the aviation industry forward, after the company handled a record three million international passengers in 2013.

Managing Director/CEO of the company Kayode T Oluwasegun-Ojo said the company’s total asset grew by 25 per cent from N11.162billion in 2012 to N13.994billion in 2013.

Speaking at the AGM one of the shareholders Mukhtar Mukhtar said the board and management deserve commendation for what he described as a ‘very impressive result’.

NAHCO Aviance Plc is an African diversified group with interests in aviation cargo, aircraft handling, crew, passenger transportation and service delivery among others.

 

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