NAHCO Plc reports N2.7 billion PAT for 2022

The Nigerian Aviation Handling Company (NAHCO) Plc has presented the summary of its unaudited financial statement for the year ended 31st December 2022. 

The financial report shows that the company reported N2.721 billion in 2022, a massive 252.9% increase from the amount in 2021 

The result is summarized as follows:  

Revenue  

• 2022 FY: N16.372 billion 
• 2021 FY: N10.232 billion 
• Change: +60% 

Profit from operations 

• 2022 FY: N3.867 billion 
• 2021 FY: N1.052 billion 
• Change: +267.6% 

Profit before tax 

• 2022 FY: N3.787 billion 
• 2021 FY: N925 million 
• Change: +309% 

Income tax expense 

• 2022 FY: N1.052 billion 
• 2021 FY: N153 million 
• Change: +587.6% 

Profit after tax 

• 2022 FY: N2.734 billion 
• 2021 FY: N771 million 
• Change: +254.6% 

Total Comprehensive income attributed to owners of the company 

• 2022 FY: N2.721 billion 
• 2021 FY: N734 million 
• Change: +270.7% 

Earnings per share 

• 2022 FY: N140 
• 2021 FY: N46 
• Change: +204% 

Bottomline: The increase in profit appears to be driven by revenue improvement for the period despite the inflation. Meanwhile, the board says it is hopeful of continuous improvement in the group’s performance in 2023 and beyond.