NAHCO shareholders applaud board over strong performance

Shareholders of the Nigerian Aviation Handling Company Plc at the weekend commended the board and management of the ground-handling group for its impressive performance and sustained improvements in returns.

At the Annual General Meeting, shareholders approved the payment of N12.18bn in cash dividends and the distribution of 278.44m ordinary shares of 50 kobo each as bonus shares for the 2025 business year.

The N12.18bn gross cash dividend represented an increase from the N11.58bn paid for the 2024 business year, marking five consecutive years of increase in payouts in the company’s history of unbroken dividend payments.

Shareholders received a dividend per share of N6.25 for the 2025 business year compared with N5.94 paid for the previous year. Also, with the bonus issue of one ordinary share of 50 kobo each for every seven ordinary shares held, shareholders saw an automatic 14.3 per cent increase in their shareholdings. A shareholder with 1,000 shares received an additional 143 bonus shares, increasing the total shareholding to 1,143 shares.

At the meeting, shareholders said they were impressed with NAHCO’s sustained performance and the investor-friendly disposition of the board. They noted that the company had continued to witness strong fundamental performance every year, which had also seen consecutive improvements in dividends.

The President of the Association for the Advancement of Rights of Nigerian Shareholders, Dr Faruk Umar, said the fundamental performance of the company had given shareholders hope for continuous improvement. He noted that investors’ confidence in NAHCO was reflective of the operational results of the company, which had continued to improve annually.

He said, “They have done very well. NAHCO is a delight to us as shareholders. Look at the results, look at the share price and look at our dividends; everything is so remarkable. Last year, the price was N80 per share; today it is over N200. That’s an increase of more than 150 per cent. They keep growing the business, which gives us hope of higher dividends. We believe the dividend next year will be much higher.”

The Founding National Coordinator, Independent Shareholders Association of Nigeria, Sir Sunny Nwosu, said NAHCO had endeared itself to shareholders with its consistent performance. He added that the steady rally of the company’s share price was because investors wanted more NAHCO shares, while existing shareholders were reluctant to sell off a highly rewarding investment.

“NAHCO is growing, and we are happy about that. We are excited to be part of this family. The board and management deserve commendations, but they must not rest on their oars,” Nwosu said.

Another shareholder, Mr Patrick Ajudua, commended NAHCO for the company’s impressive outing.

“There is no better joy for shareholders this year than what NAHCO is giving to its shareholders. An improved dividend of N6.25 plus a bonus of one-for-seven for the 2025 financial year. And of course, good prospects to reward shareholders for their investments. I think NAHCO is a place to be for stakeholders”, Ajudua said.

The Chairman of NAHCO Plc, Dr Seinde Fadeni, said the company had been positioned to take advantage of emerging opportunities in the aviation sector. According to him, the reforms in the aviation sector and the overall economy hold positive prospects for industry growth, and NAHCO would continue to explore ways to maintain its position as the leading aviation handling group.

He pointed out that NAHCO had remained strong, strategic and focused as it implemented initiatives that enabled it to remain on top of the industry.

“Your company, NAHCO, is well-positioned to take advantage of emerging opportunities as the macroeconomic outlook improves and the industry continues to gain speed,” Fadeni said.

He pointed out that in line with global best practices, NAHCO had adopted an operational framework that builds sustainability into its policies and operations.

He said, “We are moving fast in the implementation of policies that ensure environmental sustainability in all our operations.”

He outlined that NAHCO would continue the implementation of strategic initiatives aimed at driving sustained growth and returns to all stakeholders, including the equipment re-fleeting programme, which had seen the addition of more than 300 ground support equipment items to the company’s fleet.

“Your company remains the leader as West Africa’s largest ground handling company. We are the favourite of airlines seeking bespoke services due to our world-class equipment and excellent human capital. We continue to invest in equipment, staff welfare and technical capabilities. Our operational excellence continues to show in our results, which we know should delight you as owners of the company,” Fadeni said.

He assured us that the board remained committed to translating corporate growth into improved returns to shareholders through increased payouts and sustainable management of the group.

“It is important to note that beyond dividend payout, the value the company has built for its shareholders is seen in investors’ perception and valuation of its shares, which has remained one of the all-time best performers in the Nigerian stock market. We are committed to accelerating this growth by sustaining leadership in existing markets and exploring new opportunities”, Fadeni added.

The Group Managing Director, NAHCO Plc, Mr Olumuyiwa Olumekun, said that the firm had not only navigated economic headwinds but had also soared to new heights, reinforcing its position as West Africa’s largest aviation services and logistics group.

He pointed out that while global geopolitical tensions represented a major disruption and risk, and many domestic challenges persisted, NAHCO would continue to leverage its efficient operating model, excellent services and built-in resilience to mitigate risks and sustain growth.

“In 2026, NAHCO will accelerate diversification, complete its digitisation projects, expand cargo facilities to capture growth in aviation logistics and continuously pursue the board’s commitment to buying new equipment. We aim to sustain double-digit growth, enhance shareholders’ return and lead in sustainable aviation practices,” Olumekun said.

The audited report and accounts of NAHCO for the year ended 31 December 2025, showed that total revenue rose 21.8 per cent from N53.54bn in 2024 to N65.21bn in 2025. Gross profit increased from N33.08bn to N38.61bn, while operating profit rose  25 per cent from N19.84bn in 2024 to N24.84bn in 2025.

The report also showed that profit before tax jumped 30 per cent to N24.26bn in 2025 as against N18.70bn in 2024. Profit after tax grew 39.91 per cent from N12.87bn in 2024 to N17.99bn in 2025, while earnings per share rose 40 per cent from N6.60 to N9.24.

Besides, the group’s balance sheet emerged stronger, with total assets increasing from N46.95bn in 2024 to N53.88bn in 2025. Shareholders’ funds rose by 32 per cent from N20.08bn to N26.50bn.