NAHCO Grows H1 Profit by 22% to N14.4bn as Strategic Investments Drive Performance

The Nigerian Aviation Handling Company, NAHCO Plc, delivered another strong financial performance in the first half of 2026, reporting a 21.8 per cent increase in profit before tax (PBT) to N14.37 billion, underscoring the benefits of sustained investments in infrastructure, operational efficiency and business diversification. The aviation ground handling and logistics company also posted a 22.2 per cent growth in profit after tax (PAT), which rose from N8.88 billion in the corresponding period of 2025 to N10.85 billion for the six months ended June 30, 2026. According to its unaudited financial results filed with the Nigerian Exchange (NGX), NAHCO's gross revenue increased to N35.36 billion, compared with N32.33 billion recorded in the first half of 2025. Operating profit also strengthened by 25.4 per cent, rising from N11.64 billion to N14.59 billion, reflecting improved operational efficiency despite prevailing macroeconomic headwinds. The company's earnings per share (EPS) improved from N4.55 to N4.87, providing additional room for future shareholder returns following the issuance of bonus shares earlier this year. NAHCO recently rewarded shareholders with a combination of cash dividends and bonus shares following approval at its Annual General Meeting. The company increased its cash dividend for the 2025 financial year to N12.18 billion, up from N11.58 billion paid for 2024. Shareholders received N6.25 per share, compared with N5.94 in the previous year. In addition, investors received one bonus share for every seven ordinary shares held, increasing the company's outstanding shares by approximately 14.3 per cent, from 1.95 billion to 2.23 billion shares. Chairman of NAHCO, Dr. Seinde Fadeni, attributed the strong half-year performance to the company's long-term investment strategy, particularly in aviation infrastructure and human capital. According to him, investments in modern warehouses, ground handling equipment and workforce development have enhanced the company's resilience and positioned it to take advantage of emerging opportunities within the aviation sector. "Our first-half 2026 results further confirm the sustainability of our growth model. We are recording not only year-on-year growth but also consistent period-on-period improvements across our operations," Fadeni said. NAHCO's latest earnings reinforce its position as one of Nigeria's strongest-performing aviation support companies at a time when air travel demand, cargo logistics and airport operations continue to recover across Africa. The results suggest that the company's strategy of diversifying revenue sources while investing in operational efficiency is helping cushion inflationary pressures and other macroeconomic challenges. For investors, the combination of double-digit profit growth, improving earnings per share and a history of increasing dividend payouts signals continued value creation, provided the company sustains its execution strategy through the remainder of 2026.