The Skyway Aviation Handling Company (SAHCO) Plc has posted N28.9 billion as revenue in the 2024 financial year.
This was contained in the 2024 Annual Report presented by the board and management of SAHCO at its 15th Annual General Meeting (AGM), held virtually on Thursday.
The report indicated that the revenue represented 74.8 per cent growth as against the previous year’s 16.5 billion.
In the 2024 financial year period, SAHCO also posted a total gross profit of N16.3 billion when compared to the 2023 period, which was N8.1 billion.
Besides, the report revealed that SAHCO earned N6.4 billion as operating profit before income tax expenses.
Also, in 2024, SAHCO’s total assets grew to N41.7 billion from N34 billion in the previous year.
More so, its shareholders also approved a final dividend of 60 kobo per share to be shared among them.
Speaking at the AGM, Chairman of SAHCO, Dr. Taiwo Afolabi, noted that Nigeria remains one of Africa’s largest aviation markets with rising passenger demand and expanding international routes.
However, he lamented that increased operational costs, infrastructure gaps, and foreign exchange constraints are some of the major challenges facing operators.
He reaffirmed the commitment of the handling company to expand its market presence within Africa, leveraging opportunities in regional aviation.
Managing Director, SAHCO, Mrs. Adenike Aboderin, stated that the company had made significant investments in new Ground Support Equipment (GSE) in the past financial year.
According to her, these acquisitions are crucial to accommodating the increasing operational demands and ensuring that its services remain safe, efficient and environmentally friendly in 2024.
She added: “As we look ahead to 2025, we remain optimistic about the opportunities that lie before us. Our financial projections for the coming year are built on key assumptions that include an expected increase in the domestic handling rate and a pipeline of new business prospects that we anticipate will further drive our growth.
“We are committed to continuing our upward trajectory and positioning SAHCO as the premier aviation handling company in the region.”
