The Nigerian Aviation Handling Company Plc (NAHCO Aviance Plc ) has declared a cash dividend of 20 kobo to its shareholders in addition to a bonus of one new share for every 10 shares already held for the 2014 financial year.
Shareholders of the company are getting this double return on investment even as the company is set to benefit from its free trade zone subsidiary, NAHCO FTZ, which commenced operations last quarter of 2014.
NAHCO ended 2014 with a marginal increase in revenues of N8.133 billion, and profit after tax of N568 million, compared with N8.09 billion and N817 million in 2013 respectively.
The company's bottom line was affected by the three months Ebola virus scare which reduced the movement of passengers and cargo flights across West African airports by major international carriers.
Also, the company's ratios withered the general high cost of operations, the slowdown in the economy major Macroeconomic volatility preceding the 2015 elections.
The 2014 group results released and approved by the NSE recently was most impacted by pre-operating expenses and sunk cost made in its free trade zone subsidiary reducing its overall profitability and performance relative to 2013 results.
However, the Managing director of the Nahco Mr Norbert Biedermann noted in a statement that in spite of the challenges, the company achieved marginal growth of 2 per cent.
He confirmed that while investments in the FTZ will continue apace in 2015/2016, it will begin to reap the fruits of such investments within this year in a sustainable manner.
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