Business Journal


NahcoAviance Reports N8.5bn Turnover in 2O15

The Nigerian Aviation Handling Company Plc [NahcoAviance] has reported turnover of N8.5 billion in the financial year ended December 31, 2O15. This compares with N8.1 billion realised in the same period of 2O14. The Profit Before Tax rose from N769.5 million in 2O14 to N796.8 million in 2O15.
Mr. Suleiman Yahyah, Chairman, NahcoAviance said at the company’s 35th Annual General Meeting AGM in Abuja that NahcoAviance remains profitable, maintained stability in its performance ratios with a sustained reasonable buffer and cash reserves to meet short-term challenges.
“In 2O15, Nahco maintained relative stability in its performance and operations. We handled a total of 39, 699 flights compared o 35, 557 flights handled in 2O14. This is an improvement of 11 per cent.”
Yahyah added: “The board therefore remains confident that with the consistent execution of our planned actions in 2O16 and strengthening our footprints in West Africa, Nahco will return to its double-digit growth path inspite of the short-term challenges of the Nigerian economy.”
The company proposed a dividend of N324.8 million which was duly approved by shareholders.

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