The Nigerian Aviation Handling Company Plc has reported a profit after tax of N4.35bn for the first quarter ended March 31, 2025, representing a 173 per cent increase from the N1.59bn posted in the same period of 2024.
The company’s unaudited financial statements, filed with the Nigerian Exchange, showed that the surge in profit was driven by a significant increase in revenue and operational efficiency.
Group revenue for the period rose by 113 per cent to N17.04bn, up from N7.98bn in the corresponding quarter of 2024. This was accompanied by a 110 per cent increase in gross profit, which stood at N9.46bn compared to N4.42bn recorded in the previous year.
Despite a 60 per cent jump in administrative expenses to N3.38bn from N2.11bn, NAHCO’s operating profit surged to N6.17bn, more than doubling the N2.34bn recorded in the first quarter of 2024.
Further boosting profitability, finance income increased to N168.85m from N15.12m, although finance costs also rose significantly to N556.65m from N81.94m, reflecting higher interest expenses on borrowings.
Profit before tax stood at N5.78bn, up from N2.27bn a year earlier. After accounting for an income tax expense of N1.43bn, the company’s net earnings settled at N4.35bn.
On a per-share basis, NAHCO reported basic and diluted earnings of 222 kobo, up from 82 kobo in the same period last year.
The company’s total assets also grew to N56.44bn as of March 31, 2025, compared to N46.95bn as of December 2024, while shareholders’ equity rose to N24.43bn from N20.07bn.
The positive first-quarter performance reflects NAHCO’s strengthened position in Nigeria’s aviation ground handling industry and its resilience in navigating macroeconomic headwinds.