SAHCO generates N11bn revenue in 2022

Skyway Aviation Handling Company has disclosed significant growth in revenue, with a 28 per cent increase from N8.6 billion in the previous year to N11.1 billion in 2022.

According to the firm’s audited financial results for 2022, pre-tax profit was up 14.69 per cent to N4.37 billion from N3.81 billion recorded in 2021.

The SAHCO board has approved a dividend of 16.50k per ordinary share of 50k to its shareholders. The dividend amounted to N223 million, which was the same dividend paid in the 2021 financial year.

Its total assets improved by 18.74 per cent to N29.22 billion during the period under review, compared to N24.61 billion in 2021.

Speaking at the 13th Annual General Meeting in Lagos, the Chairman of the company, Dr. Taiwo Afolabi, said SAHCO made massive investments in the year under review.

He noted that this was done as part of efforts to enhance its capacity to service its clients through the acquisition of modern equipment, the provision of new facilities and capacity development for staff and board members.

According to him, the company’s Q1 2023 financial report indicated that the company was on a growth trajectory.

Afolabi said, “I can tell you that our first quarter financial year result has shown that we are making more money. So, we will surprise them by next year and maybe double whatever we are giving them this year.

“So, we are confident that this is going to happen in the next financial year.”

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