NAHCO’s Director, Akinwumi Fanimokun, acquires shares worth N5.7 million.

A notice submitted to the Nigerian Exchange Limited by the Company Secretary Bello A. Abdullahi reveals that Akinwumi Fanimokun, an Independent Non-Executive Director at Nigerian Aviation Handling Company Plc (NAHCO), has recently purchased 300,000 shares in the company, amounting to a total value of N5.7 million.

What the company is saying

The notice signed by Company Secretary, Bello A. Abdullahi on 11^th August 2023, indicated that the transaction was done on 23^rd August 2023.

The 3,000,000 units of NAHCO shares were bought at an average price of N19 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.