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Monday, February 17, 2020

NAHCO records turnover of N4.64bn H1 2018

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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.

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