NAHCO Splashes on Shareholders N443m Cash Dividend FYE

Kindly Share This Story:

NAHCO

From Benjamin a ameh, Lagos

The management of Nigerian Aviation Handling Company Plc (Nahco aviance) took N443 million out for the year net profit as cash dividend subject to approval of Shareholders during the forthcoming of General meetings.

As results of this sterling finance performance of the company under the year review, the directors, therefore recommended a cash dividend of N443 million, which translated to 30 kobo higher compared to 25 kobo paid the previous year.

The audited results of the company showed growth in revenue worth N8.1billion in 2013, up 9.4 per cent from N7.3 billion in 2012, with a growth of 423 per cent in other income from N111 million to N579 million, boosting the profit before tax (PBT) and profit after tax (PAT) of the company.

While PBT rose from N736 million to N930 million, PAT grew from N593 million to N759 million.

Some Market operators appreciated the increase in the cash dividend while called on shareholders to be of expectation in more in the years ahead given the efforts of the company to diversify its income stream.

In the same vein, Nacho aviance recently obtained a licence to operate a free trade zone(FTZ) at its facility located at the Murtala Muhammed International Airport (MMIA), Lagos.
The Managing Director/CEO of the company Mr. Kayode Oluwasegun-Ojo, explained the FTZ would enable Nahco aviance diversify its operations into non ground handling areas.

Oluwasegun-Ojo, said that the FTZ will also enhance Nigeria’s export, adding that the FTZ will give us the opportunity to have enough cargo for export.

 “This is a significant step towards diversification. There is a subsidiary company which has been put in place to operate the free trade zone. The diversification and expansion of Nahco is on course.

“Specifically, we want the free trade zone for three things – for the country, for Nahco and the aviation industry. It will provide the opportunity for us to bring in things in a borderless environment. Secondly, FTZ will increase, significantly, the traffic into Nigeria and the status of Nigeria as an aviation cargo hub. Of course, it will also give us much more cargo business because you can do transhipment and all,” he said.

 


Kindly Share This Story:

Related Post

Leave a Reply

Your email address will not be published. Required fields are marked *

amehnews greetings

x
%d bloggers like this: