For the year ended December 31, 2024, Nigerian Aviation Handling Company (NAHCO) Plc attained an increase in Total revenue by 88.5 per cent, from N28.40 billion in 2023 to N53.54 billion in 2024.
Also within the period, the company experienced increased top-line efficiency, gross profit doubled by 120.53 per cent to N33.08 billion in 2024 as against N15 billion in 2023. Operating profit also jumped by 123.93 per cent from N8.86 billion to N19.84 billion, underscoring the fact that the groups performance was driven mainly by core business operations.
Profit before tax in the result presented to the Nigerian Exchange doubled by 115.4 per cent to N18.70 billion in 2024 as against N8.68 billion in 2023.
After taxes, net profit also increased by 132 per cent from N5.54 billion to N12.86 billion. Consequently, earnings per share rose by 132 per cent from N2.84 in 2023 to N6.60 in 2024, providing headroom for similar percentage increase in dividend payouts.
The Dr Seinde Fadeni-led board of directors has recommended distribution of N11.58 billion as cash dividends to shareholders for the 2024 business year, more than a double of N4.95 billion distributed for the 2023 business year.
Shareholders, who are expected to approve the dividend recommendation at their forthcoming annual general meeting, will receive a dividend per share of N5.94 for the 2024 business year compared with N2.54 paid for the 2023 business year, representing an increase of 133.9 per cent.
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