NAHCO CFO Acquires 1 Million Shares Worth N17.75 Million

Chief Financial Officer Nigerian Aviation Handling Company Plc (NAHCO), Adeoye Rafiu Emiloju, has acquired 1 million shares in the company worth N17.75 million. 

This information is contained in a notice of Directors Dealings signed by Company Secretary Bello A. Abdullahi and sent to the Nigerian Exchange Limited. 

The acquisition of 1 million shares represents 0.05% of the company’s total outstanding shares. 

What the company is saying 

The notice signed by Company Secretary, Bello A. Abdullahi on 11th August 2023, indicated that the transaction was done on 7th and 9th August 2023.  

The 1 million units of NAHCO shares were bought at an average price of N17.75 per share. 

What You Should Know 

In its unaudited financial statement for Q1 2023, NAHCO Plc reported a 97% profit growth. 

The unaudited figures released to the NGX showed that NAHCO recorded an impressive 52% YoY growth in revenue to N4.294 billion. 

An analysis of the revenue showed a greater percentage of the revenue came from passenger/aircraft handling and Cargo handling income centres. 

Passenger/aircraft handling accounted for the highest percentage of 68.90% in Q1, just like in FY 2022 (58% of total revenue).

Specifically, the company realized N2.959 billion in this segment of its business, up from N1.453 billion in Q1 2022. 

On the other hand, Cargo handling remained the second highest with N1.174 or 27.33% of the total revenue in Q1 2023.