…..Confidence in NAHCO’s Leadership as Profit Before Tax Jumps 115.4%
Shareholders of Nigerian Air Handling Company (NAHCO) have expressed their commendation for the company’s outstanding performance ahead of its 44th Annual General Meeting (AGM) scheduled for Friday, May 23, 2025.
The company’s impressive financial results for the 2024 fiscal year, which showed a significant increase in profit before tax, total revenue, and gross profit, have earned praise from shareholders, regulators, and other stakeholders.
According to the company’s audited results, profit before tax soared by 115.4% to N18.70 billion in 2024, up from N8.68 billion in 2023. Total revenue also rose by 88.5% from N28.40 billion in 2023 to N53.54 billion in 2024.
The company’s gross profit increased by 120.53% to N33.08 billion in 2024, compared to N15 billion in 2023.
The Dr. Seinde Fadeni-led board of directors has recommended a cash dividend of N11.58 billion to shareholders for the 2024 business year, more than double the N4.95 billion distributed for the 2023 business year.
The company’s Q1 2025 unaudited results, submitted to the Nigerian Exchange (NGX), also revealed a significant increase in revenue, which more than doubled the 2024 figure for the same period.
Shareholders have praised the company’s board and management for their effective leadership and dedication to delivering increasing value to shareholders.
National Coordinator of the Independent Shareholders Association of Nigeria (ISAN), Moses Igbrude, commended the company’s performance, saying it has outperformed investors’ expectations. He urged the company to continue exploring emerging opportunities to sustain its growth trajectory.
President of the Association for the Advancement of Rights of Nigerian Shareholders (AARNS), Dr. Faruk Umar, cited the company’s impressive performance, describing it as unprecedented.
He commended the board chairman for his effective leadership and the management and staff for their dedication and commitment to the company’s progress.
Other shareholders, including Taiwo Oderinde, Chairman of the Proactive Shareholders Association, and Efunyemi Olatunde Obideyi, Chairman of the Ark of God Shareholders Association, also praised the company’s performance, describing it as excellent and impressive.
They urged the board and management not to rest on their oars and to continue delivering value to shareholders.
The company’s AGM is expected to provide a platform for shareholders to engage with the board and management on the company’s performance and future plans.
With its impressive track record, NAHCO is poised to continue its growth trajectory and deliver value to its shareholders.
