Business

NAHCO records turnover of N4.64bn H1 2018

92

 

By Ruth Olurounbi

Nigeria’s ground handling service provider, NAHCO Aviance reports N4.64 billion turnover in the half year results, a 25% increase from the N3.71 billion it reported for the same period last year, on increased investments and signed deals with two airlines.

The company signed new deals with airlines such as Max Air and Medview Airlines and is capitalising one of the airlines’ massive hajj operations going forward. Medview recently announced that it will now begin hajj operations from Nigeria.

The service also posted 147%increase over last year’s profit before tax stood of N500.97 million against N203.08m reported as at half year 2017. Its profit after tax for the half year 2018 stood N418.57 million, a 137 percent increase over the N176.32 million reported for the same period of last year.

It will be recalled that NAHCO also handles domestic and regional operations for the nation’s largest operator, Air Peace and Aero World, as disclosed by the company’s spokesperson, Tayo Ajakaye.

Leave a comment

Related Articles

Updated: We raised interest rate to 24.75 percent to fight inflation – CBN

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN)...

Don’t sell dollar above N1,269, CBN orders Bureau de Change

As part of measures to strengthen the naira against the dollar, the...

Dangote set to disburse N15bln food items to 774 LGAs to cushion harsh economic conditions

Nigerian businessman and industrialist Alhaji Aliko Dangote says he has allocated N15...

Naira strengthens to N1400/$ at parallel market as speculators sell

The naira strengthened on Wednesday to close at N1400/$1 in the parallel...

Just In: Zenith Bank names Adaora Umeoji as its first female Group Managing Director

The Board Directors of Zenith Bank Plc has announced the appointment the...

Nigerian Business Community to FG: Use Ghana Trade Office to solve our problems

The Nigerian business community in Ghana has urged the federal government to...

Heirs Holdings tells story of transformational investment in Africa, launches its first-ever TV commercial

Heirs Holdings has launched its first-ever television commercial (TVC), showcasing the company’s...

Aig-Imoukhuede, co-founder, returns to Access Holdings as Chairman

Access Holdings PIc has announced the return of Mr. Aigboje Aig-Imoukhuede as...

CBN to sanction MfBs over late non-rendition of statutory monthly returns

The Central Bank of Nigeria (CBN) has directed all microfinance banks (MfBs)...

In a great leap forward, Heirs Holdings launches Heirs Technologies, set to lead Africa’s digital evolution

Heirs Holdings, a leading African investment company dedicated to improving lives and...

Transcorp Group announces listing of Transcorp Power Plc by introduction on Nigerian Exchange’s Main Board March 4

Transnational Corporation Plc (Transcorp Group) wishes to announce the listing of its...

CBN to sell N1.64trn Treasury bills in Q2 2024

The Central Bank of Nigeria (CBN) has said it will sell Treasury...

Nigeria lacks sufficient reserves to tackle FX demands, backlog in the market, says expert

An economist, Mr. Esili Eigbe, has said Nigeria lacked sufficient reserves to...

CBN to sell dollar at N1,301 to authorized BDC

In its bid to increase liquidity, strengthen the naira, and curb distortion...

Economic hardship: Elumelu to partner MOFI to boost economy

Nigerian philanthropist and Chairman of Heirs Holdings Group, Mr. Tony Elumelu, has...

NSA, CBN join forces to curb illicit activities in forex market

In its bid to strengthen Nigeria’s foreign exchange market, the Office of...

CBN stops dollar cash payments for BTA, PTA

The Central Bank of Nigeria (CBN) has announced that it will no...

Wigwe’s death: Access Holdings appoints Bolaji Agbede its Ag. CEO

Access Holdings Plc has announced the appointment of Ms. Bolaji Agbede as...

We must moderate our demands for forex, says Cardoso

The governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso,...

NNPCL, CBN partner for seamless banking operations

In their bid to foster transparency and seamless commercial operations, the Nigerian...