Nahco Aviance, one of Nigeria’s foremost grounds handling service provider has continued its dominance of the sector as it announces a string of new business signings.
The announcement came on the heels of the publication of its 2018 half year financials, showing good returns for shareholders.
In the results announced for the half year 2018, the group posted a turnover of N4.64 billion against the N3.71 billion posted for the same period last year. The results showed a 25 percent increase over the same period in 2017.
The Company in a statement over the weekend disclosed that it had signed a series of new contracts with both local and international airlines.
The signings with local airlines includes Max Air which has since started smooth operations from Lagos and Kano, and handling of Hajj operations for Medview, one of the largest operators in the country.
Aside handling of International and Hajj operations for Flynas, NAHCO also handles domestic and of recent, regional operations for the nation’s largest operator, Air Peace and Aero World, delivering service to the delight of the airlines.
It will be recalled that NAHCO, which handles most of the airlines in the country, in February 2018 began handling the Rwandan International airline, Rwandair, providing ground handling service for the fast rising operator at the Nnamdi Azikiwe International Airport, Abuja.
Meanwhile, Profit Before Tax stood at N500.97 million as against N203.08m reported as at half year 2017, a 147 percent increase over last year.
Profit After Tax for the half year 2018 stood at N418.57 million, a 137 percent increase over the N176.32 million reported for the same period of last year.
Speaking on the strides achieved in recent times by the Company, Idris Yakubu who the managing director/CEO, took over as CEO in November 2017 said it is a result of growing faith in the new management that has superintended the Affairs of the Company during the period.
According to him, “We are pleased with the patronage of our Valued Clients, the Airlines and the Agents, as well as the contributions of our hardworking and dedicated staff to this very positive result. Management is committed to staff welfare and will continue the negotiation of the Staff Condition of Service, and conclude before the current booklet expires end September 2018.” Management’s commitment to Staff Welfare led NAHCO to be adjudged as one of the top 100 Best Places to work in Nigeria in 2018 by highly rated Jobberman.
Yakubu further stated that shareholders should look forward to sustained profit performance at year end, on the back of the strong showing of the first half of 2018.
