Friday 3 May 2013

NAHCO grows profit by 55% in first quarter

Aviation Nigeria

The Nigerian Aviation Handing Company (NAHCO Aviance Plc) has announced an increase in its Profit After Tax (PAT) of 55 per cent in the first quarter of 2013 compared to the same period in 2012.

According to a statement signed by the company’s Managing Director Mr. Kayode Oluwasegun Ojo, the Profit After Tax grew from N101million in March 2012 to N157million in March 2013.

The statement said the turnover grew from N1.5billion to N1.795billion, which is a 15 per cent increase in the unaudited result in the first quarter.

The MD said the statement is sequel to the company’s performance result released to the Nigerian Stock Exchange (NSE), while attributing the performance to the general improvement in efficiency and cost containment of NAHCO.

“The change in the bottom-line reflects gains from our transformation programme, cost containment initiatives and long term strategy for investment in human resource development, equipment renewal, cargo modernisation and process improvement,” the statement said.

Recently, NAHCO ‘s board approved the payment of 25 kobo dividend which represent a yield of 4.75 per cent in line with its plan to doubling its earnings in two years.

Alhaji Suleiman Yahyah is the Chairman of NAHCO Aviance Plc.

Source: Daily Trust


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