The aviation handling and logistics company, in its six-month financial results for the period ended June 30, 2026, released on the Nigerian Exchange (NGX), reported steady growth despite challenging operating conditions affecting businesses across the economy.
The results showed that NAHCO’s gross revenue increased to N35.36 billion in the first half of 2026, compared with N32.33 billion recorded in the corresponding period of 2025.
Operating profit also improved significantly, rising by 25.4 per cent from N11.64 billion in the first half of 2025 to N14.59 billion during the period under review.
Profit before tax climbed by 21.8 per cent to N14.37 billion, compared with N11.79 billion achieved in the same period last year, while profit after tax grew by 22.2 per cent from N8.88 billion to N10.85 billion.
The company’s adjusted basic earnings per share also increased from N4.55 in the first half of 2025 to N4.87 in the first half of 2026, strengthening its ability to deliver returns to shareholders despite the rise in outstanding shares following the bonus share issuance for the 2025 financial year.
At its Annual General Meeting held in May, NAHCO shareholders approved a combination of cash dividend payment and bonus share distribution. The company increased its cash dividend payout for the 2025 financial year to N12.18 billion, up from N11.58 billion paid in 2024.
Shareholders received N6.25 per share for the 2025 financial year, compared with N5.94 per share in the previous year. They also received one bonus ordinary share of 50 kobo for every seven ordinary shares held, representing a 14.3 per cent increase in their shareholding.
Following the bonus issue, NAHCO’s issued share capital rose from 1.949 billion ordinary shares of 50 kobo each to 2.228 billion ordinary shares.
Chairman of NAHCO, Dr Seinde Fadeni, attributed the company’s continued growth to the strength of its operating model and investments in key business areas, including aviation infrastructure, equipment and human capital development.
He said the company had remained focused on maintaining its leadership position in the aviation handling sector by adapting to changing market conditions and pursuing new growth opportunities.
“Our first-half 2026 results further confirm the sustainability of our growth model. We have recorded growth not only year after year but also period after period, demonstrating that our expansion is steady and consistent across our operations,” Fadeni said.
He added that NAHCO’s investments in modern warehouses, ground handling equipment, skilled manpower and other strategic assets had improved its capacity to deliver quality services while positioning the company for future expansion.
“We remain confident that we are in a stronger position to maintain our leadership through the delivery of excellent services to our stakeholders.
“As the Nigerian aviation industry continues to open up to global opportunities, NAHCO’s strategic focus on growth, diversification and sustainability will ensure stronger performance and greater returns for our shareholders,” he said.
The Group Managing Director of NAHCO, Mr Olumuyiwa Olumekun, said the company’s performance reflected the impact of its efficient operating structure, service quality and ability to manage business risks.
He explained that management’s focus was not only on expanding operations but also on ensuring that growth translated into improved value for shareholders.
“We remain focused on our strategy of diversification, operational excellence and sustainable growth. We continue to invest in automation, technical manpower and the expansion of our nationwide storage and warehousing facilities.
“Our preference among industry stakeholders is built on both availability and quality. We remain committed to our culture of service excellence,” Olumekun said.
The latest results suggest that NAHCO remains on track to outperform its 2025 financial performance, which earned positive recognition from shareholders and strengthened its reputation as one of the notable companies on the Nigerian stock market.
The company’s audited financial statements for the year ended December 31, 2025, showed that revenue grew by 21.8 per cent from N53.54 billion in 2024 to N65.21 billion in 2025.
Gross profit increased from N33.08 billion to N38.61 billion, while operating profit rose by 25 per cent from N19.84 billion to N24.84 billion.
Profit before tax surged by 30 per cent to N24.26 billion in 2025 from N18.70 billion in 2024, while profit after tax rose by 39.9 per cent from N12.87 billion to N18 billion.
The company also recorded a stronger balance sheet, with total assets growing from N46.95 billion in 2024 to N53.88 billion in 2025, while shareholders’ funds increased by 32 per cent from N20.08 billion to N26.50 billion.
With continued investment in technology, infrastructure and workforce development, NAHCO is positioning itself to take advantage of expanding opportunities in Nigeria’s aviation sector while sustaining value creation for investors.