The Nigerian Aviation Handling Company Plc (NAHCO) has announced an impressive 65% increase in profit after tax to N12.87 billion for the full year ended December 31, 2024. This significant growth was driven by a substantial 87% increase in revenue to N53.2 billion, up from N28.4 billion in the previous year.
Key Highlights:
- 65% increase in profit after tax to N12.87 billion for FY 2024
- 87% increase in revenue to N53.2 billion, driven by higher demand for ground handling services and improved operational efficiencies
- Gross profit doubles to N32.2 billion from N15 billion in 2023
- Operating expenses increase to N21 billion in 2024 from N13.4 billion in 2023, reflecting increased operational activities
NAHCO's impressive financial performance was driven by the growing demand for ground handling services and the company's improved operational efficiencies. Despite facing rising costs, including increased operating and administrative expenses, the company maintained its profitability, with gross profit doubling to N32.2 billion. This strong financial performance demonstrates NAHCO's resilience and ability to adapt to changing market conditions.
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