NAHCo Posts 2018 Half Year Turnover Of N4.64B

* Managing Director/CEO, Mr. Idris Yakubu

 

 

…Signs Ground Handling Deals With Air Peace, Med-View, Max Air

Nigerian Aviation Handling Company (NAHCo) Aviance, Nigeria’s foremost ground handling service provider continues its dominance of the sector, as it disclosed that it has made a string of new business signings.

This is just as the organisation said that it posted half year 2018, a turnover of N4.64 billion against the N3.71billion posted for the same period last year.

An online statement issued by the Manager, Communications & Corporate Services, Tayo Ajakaye explained that the announcement came on the heels of the publication of a superlative 2018 half year financial performance.

The company in a statement over at the weekend disclosed that it had signed a series of new contracts with both local and international airlines.

The ground handling company disclosed that it signed several business deals, one of which includes that with Max Air, which has since started smooth operations from Lagos and Kano and handling of Hajj operations for Medview, one of the largest operators in the country.

NAHCo added that aside handling of international and Hajj operations for Flynas, the ground handling company also handles domestic and of recent, regional operations for the nation’s largest operator, Air Peace and Aero World, delivering service to the delight of the airlines.

Recalled that NAHCo, which handles most of the airlines in the country, in February 2018 began handling the Rwandan international airline, RwandAir, providing ground handling service for the fast rising operator at the Nnamdi Azikiwe International Airport(NAIA),Abuja.

In the results announced for the half year 2018, the group posted a turnover of N4.64billion against the N3.71billion posted for the same period last year.

According to NAHCo, the results showed a 25 per cent increase over the same period in 2017.

Profit Before Tax(PBT), NAHCo said stood at N500.97million as against N203.08 million reported as at half year 2017.

This, the ground handler said represents a 147 per cent increase over last year.

On the other hand, Profit After Tax(PAT) for the half year 2018 stands at N418.57million, an increase of 137 per cent over the N176.32 million recorded for the same period of last year.

Speaking on the successes achieved in recent times by the company, the Managing Director/CEO, Mr. Idris Yakubu who took over as CEO in November 2017, stated it was a result of growing faith in the new management that has superintended the affairs of the company during the period.

According to him, “We are pleased with the patronage of our Valued Clients, the Airlines and the Agents, as well as the contributions of our hardworking and dedicated staff to this very positive result. Management is committed to staff welfare and will continue the negotiation of the Staff Condition of Service, and conclude before the current booklet expires end September 2018”.

Management’s commitment to Staff Welfare led NAHCo to be adjudged as one of the Top 100 Best Places to work in Nigeria in 2018 by highly rated Jobberman.

Speaking further, Yakubu stated that shareholders should look forward to sustained profit performance at year end, on the back of the strong showing of the first half of 2018.

The company recently concluded its AGM in Abuja, where shareholders approved of its plans to acquire new Ground Support Equipment (GSE).

Yakubu had impressed on the board and the company’s shareholders of the necessity for the equipment to enable the company better serve its clients.

“We are pleased with the progress made by your company (NAHCo) in sustaining earnings, profit and operating performance in our business during the year. To enable us consolidate our leadership position in the industry, we have embarked on initiatives which have helped us better maintain our client base and win many new names,” He said at the meeting,

 

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