NAHCO Earns N5.37bn From Import Cargo Handling In H1 2026

Nigerian Aviation Handling Company (NAHCO) Plc generated N5.37bn from its import cargo handling operations in the first half of 2026 as air cargo activities strengthened across Nigeria’s major airports.

An analysis of the company’s unaudited half-year financial statements showed that revenue from import cargo handling rose by 30.6 per cent to N5.37bn, compared with N4.11bn recorded in the corresponding period of 2025.

The increase outpaced indicate stronger demand for import cargo processing and logistics services.

The import cargo business accounted for approximately 15.2 per cent of NAHCO’s total revenue of N35.36 billion during the six-month period, making it the company’s second-largest revenue stream after aircraft handling.

Combined with export cargo handling revenue of N925.6m, the cargo handling business contributed about N6.28bn to the group’s top line.

NAHCO reported it’s first half 2026 with 22 per cent growth in profit.

The report showed that gross revenue rose to N35.36bn in first half 2026 compared with N32.33bn in first half 2025.

Operating profit grew by 25.4 per cent from N11.637bn in first half 2025 to N14.593bn in first half 2026.

Profit before tax improved by 21.8 per cent to N14.37bn in first half 2026 as against N11.79bn in comparable period of 2025.

After taxes, net profit rose by 22.2 per cent from N8.88bn to N10.85 billion.

With this, adjusted basic earnings per share improved from N4.55 in first half 2025 to N4.87 in first half 2026, providing enough headroom for cash dividend despite increase in outstanding shares due to bonus shares distributed for the 2025 business year.

Shareholders of NAHCO had at their annual general meeting in May, approved combined dividend of cash and bonus shares.

The company increased cash dividend to N12.18bn for the 2025 business year as against N11.58bn paid for the 2024 business year. Shareholders received a dividend per share of N6.25 for the 2025 business year compared with N5.94 paid for the previous year.

Shareholders also received one ordinary share of 50 kobo each as bonus share for every seven ordinary shares held, automatically increasing the number of shares held by each shareholder by 14.3 per cent. The company’s outstanding paid up shares thus increased from 1.949 billion ordinary shares of 50 kobo each to 2.228 billion ordinary shares of 50 kobo each.

Chairman, Nigerian Aviation Handling Company (NAHCO) Plc, Dr Seinde Fadeni, said the first half 2026 performance shows the resilience of the group’s operating structure and continuing benefits from investments in critical assets.

He said NAHCO has remained proactive and continue to explore ways to maintain its position as the leading aviation handling group.

He said investments in world-class warehouses, ground handling equipment, human capital and other areas have strengthened the capability of the group to adapt to macroeconomic changes while simultaneously converting emerging growth opportunities.

“Our first half 2026 results further confirm our assurance on sustainability of our growth model. We have not seen growth on growth every year but also period on period, showing that we are not growing in bits but steadily through the entire operations.

“We remain confident that we are in stronger position to continue to maintain our leadership position through excellent services to our stakeholders.

“As Nigerian aviation industry opens up further to global opportunities, NAHCO’s strategic focus on growth, diversification and sustainability would ensure stronger performance and returns to our shareholders,” Fadeni said.

Group Managing Director, Nigerian Aviation Handling Company (NAHCO) Plc, Mr Olumuyiwa Olumekun said that NAHCO has continued to leverage its efficient operating model, excellent services and built-in resilience to mitigate risks and sustain growth.

He said the first half 2026 performance underlines management’s focus on quality expansion, ensuring that growth is not only reflected in size of operations but the quality of returns to shareholders.

“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. Our preference by industry stakeholders is built on both availability and quality. We remain committed to our known service culture of excellence,” Olumekun said.

Audited report and accounts of NAHCO for the year ended December 31, 2025 had shown that total revenue rose by 21.8 per cent from N53.54bn in 2024 to N65.21 billion in 2025.

Gross profit increased from N33.08bm to N38.61 billion. Operating profit rose by 25 per cent from N19.84bn in 2024 to N24.84 billion in 2025.

The report had also shown that profit before tax jumped by 30 per cent to N24.256bn in 2025 as against N18.702bn in 2024.

Profit after tax grew by 39.91 per cent from N12.865bn in 2024 to N17.999bn in 2025.

Earnings per share rose by 40 per cent from N6.60 in 2024 to N9.24 in 2025.
Besides, the group’s balance sheet also emerged stronger with total assets increasing from N46.95bn in 2024 to N53.88bn in 2025.

Shareholders’ funds rose by 32 per cent from N20.075bn to N26.497bn.