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:

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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.

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