NAHCO’s nine-month pre-tax profit rises 18.39% to N21.24 billion

Nigerian Aviation Handling Company Plc (NAHCO) has reported a significant rise in its nine-month pre-tax profit, reaching N21.24 billion, marking an 18.39% increase from N17.94 billion in the same period last year. Revenue also grew by 16.51% to N55.64 billion from N47.76 billion, leading to a 19.21% increase in profit after tax to N16.04 billion from N13.46 billion.

Earnings per share saw an 19.21% rise to 720 kobo from 604 kobo. The company's pre-tax profit in Q3 2026 climbed by 11.76% to N6.87 billion, outpacing the N6.15 billion in Q3 2025, thanks to higher revenue from its handling and related businesses. Gross profit expanded by 8.49% to N28.17 billion from N25.97 billion, while operating profit increased by 19.43% to N21.67 billion.

Operating costs, however, rose by 26.07% to N27.47 billion. Administrative expenses dropped by 18.27% to N6.68 billion, and finance costs fell by 19.65% to N1.26 billion. Total assets grew by 6.77% to N58.85 billion, while cash and cash equivalents decreased by 15.03% to N9.52 billion. Shareholders’ equity rose by 14.85% to N29.86 billion.

The earnings growth was attributed to higher revenue from various business segments, coupled with reduced administrative expenses and finance costs. Profitability was further bolstered by other income and the recognition of expected credit losses. Despite an increase in operating profit, the group faced a 11.29% decline in net cash generated from operating activities due to working capital movements and higher tax payments.