NAHCO profit rises 19% to ₦16bn in nine months on cargo, cost cuts
- NAHCO's net profit rose 19.2% to ₦16.04bn in the nine months to September 2026.
- Revenue grew 16.5% to ₦55.64bn, helped by a 31% jump in cargo handling.
- The company paid a higher dividend for 2025 and expects growth to continue.
Nigerian Aviation Handling Company (NAHCO) Plc grew its profit after tax by 19.2 per cent to ₦16.04 billion in the nine months to September 2026, up from ₦13.46 billion a year earlier, according to its interim report filed on the Nigerian Exchange (NGX).
Revenue rose 16.5 per cent to ₦55.64 billion from ₦47.76 billion, while profit before tax climbed 18.4 per cent to ₦21.24 billion. Earnings per share rose to ₦7.20 from ₦6.04.
The company, which handles aircraft, cargo and logistics services across West Africa, said cargo handling revenue grew by about 31 per cent, reflecting more trade and e-commerce volumes. Revenue from free zone, transhipment, logistics, ticketing and lounge services jumped 47.17 per cent to ₦2.91 billion, while equipment rental and maintenance brought in ₦4.45 billion.
Lower costs also helped. Finance costs fell 19.7 per cent to ₦1.26 billion, though finance income dropped from ₦1.37 billion to ₦834 million.
What it means for shareholders
NAHCO's board has raised dividends for five straight years. For the 2025 business year, shareholders approved a cash dividend of ₦12.18 billion, up from ₦11.58 billion for 2024, plus one bonus share for every seven held.
That bonus issue increased the company's shares in issue from 1.949 billion to 2.228 billion, which affects how per-share figures compare with last year.
Chairman Seinde Fadeni said the result showed the group's leadership in aviation services and the resilience of its strategy. Managing Director Olumuyiwa Olumekun credited growth across aircraft handling, cargo and related businesses, supported by lower administrative and finance costs.
Total assets rose to ₦58.85 billion from ₦55.12 billion in December 2025, and shareholders' funds grew from ₦26 billion to ₦29.86 billion.
Presco also posts growth
In a separate filing, edible oil producer Presco Plc reported profit before tax of ₦151.5 billion for the same nine-month period, up 8.5 per cent from ₦139.65 billion. Profit after tax was nearly flat at ₦111.18 billion, against ₦110.8 billion a year earlier.
Presco's revenue was ₦276.54 billion, little changed from ₦274.5 billion, as revenue from Nigeria rose 12.7 per cent to ₦222.0 billion. Managing Director Reji George said the company plans to start harvesting fresh fruit bunches from its newly acquired Saro Oil Palm Limited plantation in the fourth quarter.
For ordinary Nigerians, both results point to companies still growing profits despite high inflation, though much of the gain at NAHCO came from cost control and cargo volumes rather than a broad rise in prices.
