NAHCO Eyes Further Diversification to Drive N300bn Turnover Target
CHIGOZIE AMADI
The board of Nigerian Aviation Handling Company (NAHCO) Plc has assured shareholders that the five- year growth strategy being implemented by the company would drive its turnover above N300 billion within the next five years.
At its annual general meeting (AGM) held at the weekend, the board said the company has continued to strengthen its position as the market leader in aviation ground handling while diversifying into new opportunities.
The assurance came as shareholders approved the payment of N11.58 billion as cash dividends for the 2024 business year, representing a dividend per share of N5.94. The latest dividend represented a 134 per cent increase on N4.95 billion paid for the 2023 business year.
Chairman, Nigerian Aviation Handling Company (NAHCO) Plc, Dr Seinde Oladapo Fadeni, said the board and management are completely focused on implementing the company’s five-year strategic blueprint, which would drive the next phase of the growth of the group.
According to him, the company is undergoing a transformative change that has seen improvement in operating strategy, equipment, staff welfare and management and significant investments in technical know-hows and new opportunities.
He noted that the 2024 performance signposted what the future holds for shareholders of the company, assuring that the group is in position to sustain impressive growths and achieve its target of N300 billion turnover.
“The year was one of tremendous progress, marked by significant achievements and a renewed sense of purpose across all facets of our operations,” Fadeni said.
Group Managing Director of NAHCO Plc, Mr Olumuyiwa Olumekun, highlighted some operational achievements in the past year to include the recertification of the company in three major stations of Lagos, Abuja and Kano and the commissioning of a new NAHCO Export Packaging and Processing Centre, Lagos.
