Nigerian Aviation Handling Company (NAHCO) Plc sustained its impressive growth trajectory in the first half of 2026, recording a 22 per cent increase in profit as recent strategic investments and corporate management initiatives continued to strengthen its overall performance.

NAHCO’s six-month financial report for the period ended June 30, 2026, released on the Nigerian Exchange (NGX), showed that West Africa’s leading aviation handling and logistics group continued to benefit from increasingly efficient operations and diversified income streams, helping to moderate the impact of adverse operating conditions on its overall performance.

The report showed that gross revenue rose to N35.36 billion in the first half of 2026, compared with N32.33 billion in the corresponding period of 2025. Operating profit grew by 25.4 per cent, from N11.64 billion in the first half of 2025 to N14.59 billion in the first half of 2026.

Profit before tax increased by 21.8 per cent to N14.37 billion in the first half of 2026, compared with N11.79 billion in the corresponding period of 2025. After tax, net profit rose by 22.2 per cent, from N8.88 billion to N10.85 billion.

Consequently, adjusted basic earnings per share improved from N4.55 in the first half of 2025 to N4.87 in the first half of 2026, providing sufficient headroom for a cash dividend despite the increase in outstanding shares resulting from the bonus shares distributed for the 2025 financial year.

At the company’s Annual General Meeting held in May, shareholders approved a combined cash dividend and bonus share issue. NAHCO increased its cash dividend to N12.18 billion for the 2025 financial year, compared with N11.58 billion paid for 2024. Shareholders received a dividend of N6.25 per share for 2025, up from N5.94 per share for the previous year.

Shareholders also received one bonus ordinary share of 50 kobo for every seven ordinary shares held, increasing each shareholder’s holdings by 14.3 per cent. Consequently, the company’s issued share capital increased from 1.949 billion ordinary shares of 50 kobo each to 2.228 billion ordinary shares of 50 kobo each.

Chairman of NAHCO, Dr Seinde Fadeni, said the first-half 2026 performance demonstrates the resilience of the group’s operating structure and the continued benefits of investments in critical assets.

He said the company has remained proactive in exploring ways to maintain its position as the leading aviation handling group in the region.

According to him, investments in world-class warehouses, ground handling equipment, human capital and other strategic areas have strengthened the group’s capacity to adapt to macroeconomic changes while taking advantage of emerging 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.

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“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,” Fadeni said.

Group Managing Director of NAHCO, Mr Olumuyiwa Olumekun, said the company has continued to leverage its efficient operating model, service excellence and built-in resilience to mitigate risks and sustain growth.

He said the first-half performance underscores management’s focus on quality expansion, ensuring that growth is reflected not only in the scale of operations but also in the quality of returns delivered to 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 first-half 2026 performance indicates that NAHCO is on course to surpass its full-year 2025 results, which earned the company commendation from shareholders and reinforced its position as one of the most sought-after stocks on the Nigerian stock market.

The company’s audited financial statements for the year ended December 31, 2025, showed that total revenue increased by 21.8 per cent, from N53.54 billion in 2024 to N65.21 billion in 2025. Gross profit rose from N33.08 billion to N38.61 billion, while operating profit increased by 25 per cent, from N19.84 billion in 2024 to N24.84 billion in 2025.

The report also showed that profit before tax grew by 30 per cent to N24.26 billion in 2025, from N18.70 billion in 2024, while profit after tax increased by 39.9 per cent, from N12.87 billion to N18.00 billion. Earnings per share rose by 40 per cent, from N6.60 in 2024 to N9.24 in 2025.

The group’s balance sheet also strengthened, with total assets increasing from N46.95 billion in 2024 to N53.88 billion in 2025. Shareholders’ funds rose by 32 per cent, from N20.08 billion to N26.50 billion.