The Nigerian Aviation Handling Company Plc has sustained its growth trajectory in the first half of 2026, recording a 22 per cent increase in profit.
The company disclosed that recent strategic investments and corporate management initiatives continued to strengthen its overall performance outlook.
NAHCO’s six-month financial report for the period ended June 30, 2026, released on the Nigerian Exchange Limited, showed that the aviation handling and logistics group benefited from increasingly efficient operations and diversified income sources, moderating the impact of adverse operating conditions.
According to the report, gross revenue rose to N35.36bn in H1 2026 compared to N32.33bn in H1 2025. Operating profit grew by 25.4 per cent from N11.64bn in H1 2025 to N14.59bn in H1 2026.
Profit before tax improved by 21.8 per cent to N14.37bn in H1 2026 against N11.79bn recorded in the corresponding period of 2025. After taxes, net profit rose by 22.2 per cent from N8.88bn to N10.85bn.
Consequently, adjusted basic earnings per share improved from N4.55 in H1 2025 to N4.87 in H1 2026, providing adequate headroom for a cash dividend despite an increase in outstanding shares due to bonus shares distributed for the 2025 business year.
At their Annual General Meeting in May, shareholders of NAHCO approved a combined dividend of cash and bonus shares. The company increased its cash dividend to N12.18bn for the 2025 business year compared to N11.58bn paid for 2024. Shareholders received a dividend per share of N6.25 for 2025 compared with N5.94 paid for the previous year.
Shareholders also received one ordinary share of 50 kobo for every seven ordinary shares held, increasing individual shareholdings by 14.3 per cent. The company’s outstanding paid-up shares subsequently rose from 1.95 billion ordinary shares of 50 kobo each to 2.23 billion ordinary shares.
Commenting on the results, the Chairman of NAHCO Plc, Seinde Fadeni, said the H1 2026 performance demonstrated the resilience of the group’s operating structure and the ongoing benefits of investments in critical assets.
He noted that NAHCO has remained proactive in maintaining its position as a leading aviation handling group.
Fadeni added that investments in world-class warehouses, ground handling equipment, and human capital strengthened the group’s capacity to adapt to macroeconomic shifts while capturing growth opportunities.
He said, “Our H1 2026 results further confirm our assurance on the sustainability of our growth model. We have not only seen growth year-on-year, but also period-on-period, showing that we are growing steadily across operations.
“As the Nigerian aviation industry opens up further to global opportunities, NAHCO’s strategic focus on growth, diversification, and sustainability will ensure stronger performance and returns to our shareholders.”
Also speaking, the Group Managing Director of NAHCO Plc, Mr Olumuyiwa Olumekun, said the company continued to leverage its efficient operating model and built-in resilience to mitigate risks and sustain growth.
He noted that the H1 2026 performance underlined management’s focus on quality expansion, ensuring that growth is reflected both in the scale of operations and the quality of returns.
“We are focused on our strategy of diversification, operational excellence, and quality growth. We continue to invest in automation and human technical capabilities while expanding our nationwide storage and warehousing facilities,” Olumekun stated.
The H1 2026 performance indicates that NAHCO could surpass its 2025 financial results.
In the audited report for the year ended December 31, 2025, total revenue rose by 21.8 per cent from N53.54bn in 2024 to N65.21bn in 2025. Gross profit increased from N33.08bn to N38.61bn, while operating profit rose by 25 per cent from N19.84bn in 2024 to N24.84bn in 2025.
Profit before tax jumped by 30 per cent to N24.26bn in 2025 from N18.70bn in 2024, while profit after tax grew by 39.9 per cent from N12.87bn in 2024 to N18.00bn in 2025. Earnings per share also rose by 40 per cent from N6.60 in 2024 to N9.24 in 2025.
Additionally, the group’s balance sheet strengthened as total assets increased from N46.95bn in 2024 to N53.88bn in 2025, while shareholders’ funds grew by 32 per cent from N20.08bn to N26.50bn.