BUSINESS

NAHCo Boosts Profit By 155.33% To N771.6m In 2021

Nigerian Aviation Handling Company Plc (NAHCo) has released its audited financial statements for the year ended 31 December 2021with 155.33% rise in group profit for the year to N771.615 million from N302.131million in 2020.

The principal activities of the Group are the provision of services including aircraft handling, cargo handling, passenger handling, passenger profiling, crew transportation, energy and power distribution and leasing of ground handling equipment.

Group revenue for the year rose to N10.233 billion from N7.126 billion in 2020.

A dividend in respect of the year ended 31 December 2021 of 41k per share, amounting to N665 million (2020; N203 million was proposed at the board meeting held on 29 March 2022 and subject to the approval at the Annual General Meeting.

In addition, the Directors recommended a script issue of (1) for every five (5) shares held by the existing shareholders as fully paid-up shares amounting to N162 million (Gross of withholding tax) to be capitalised from retained earnings.

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