The Nigerian Aviation Handling Company Plc has sustained its growth trajectory with double-digit increases across key performance indices in the third quarter of 2026, underlining continuous brand preference and operational efficiency.
The company’s interim report and accounts for the nine-month period ended 30 September 2026, released at the Nigerian Exchange, showed that total revenue rose 16.51 per cent to N55.64bn compared with N47.76bn recorded in the corresponding period of 2025. Higher operating margins helped expand operating profit by 19.5 per cent from N18.14bn to N21.66bn, while gross profit increased by 8.5 per cent from N25.97bn to N28.17bn.
A 19.7 per cent decline in finance costs to N1.26bn moderated a 39.1 per cent drop in finance income to N834m, propelling profit before tax up by 18.39 per cent to N21.24bn from N17.94bn. After tax deductions, net profit expanded by 19.2 per cent to N16.04bn compared with N13.46bn in the third quarter of 2025, pushing earnings per share up by 19.2 per cent to N7.20 from N6.04.
This robust performance places the aviation handling firm on a firm path to maintain its consecutive dividend increases over the past five years. Despite an increase in outstanding shares resulting from a bonus issue for the 2025 financial year, the third quarter 2026 dividend cover stood at 1.15 times against 0.97 times in the previous period, offering significant headroom for higher payouts.
At their Annual General Meeting in May 2026, shareholders approved a total cash dividend of N12.18bn (N6.25 per share) alongside a one-for-seven bonus issue, which elevated the total outstanding paid-up shares from 1.949 billion to 2.228 billion units.
The balance sheet grew stronger over the period, with total assets rising from N55.12bn in December 2025 to N58.85bn by September 2026. Paid-up share capital grew to N1.114bn while shareholders’ funds rose to N29.86bn. Although the inflationary environment compressed the gross margin from 54.38 per cent to 50.63 per cent, operating profit margin improved to 38.9 per cent while pre-tax profit margin edged up to 38.17 per cent. Return on equity increased to 53.72 per cent from 51.77 per cent, while return on total assets advanced to 27.26 per cent from 24.42 per cent.
Commenting on the results, the Chairman of NAHCO Plc, Dr Seinde Fadeni, said the performance demonstrated the group’s leadership in the sector and the resilience of its business strategy. He noted that the company has continued to invest in human, technical, and infrastructural capabilities to sustain its leadership position.
“We are confident about the outlook for the aviation industry and our business. We remain focused on our strategic plan on sustainability and diversification. We will continue to explore opportunities to grow the business and deliver competitive returns to our stakeholders,” Fadeni said.
The Group Managing Director of NAHCO Plc, Mr Olumuyiwa Olumekun, attributed the revenue growth to broad-based improvements across core operations, cargo handling, and ancillary services, bolstered by disciplined cost management. A breakdown revealed that cargo handling revenue grew by roughly 31 per cent due to rising trade and e-commerce volumes. Revenue from free zone, trans-shipment, logistics, ticketing, and lounge services surged 47.17 per cent to N2.91bn, while equipment rental and maintenance generated N4.45bn.
“Our performance highlights the quality of service and facilities that NAHCO has come to be known for. We remain committed to sustaining this growth trajectory and in ensuring that our shareholders continue to enjoy the benefit of their investments,” Olumekun said.
