Skyway Aviation Handling Company Plc (SAHCO) has announced impressive financial results for the first half of 2025, demonstrating significant growth and profitability. The company’s unaudited financial statements reveal a remarkable 131% surge in profit after tax, reaching N3.63 billion compared to N1.57 billion in the same period of 2024. This substantial increase highlights SAHCO’s successful operational strategies and its ability to capitalize on the recovering aviation industry. The company’s robust performance is attributed to a combination of factors, including increased operational activities, strategic investments, and a focus on delivering high-quality aviation handling services.
SAHCO’s revenue also experienced a significant boost, climbing by 69% to N10.68 billion from N6.31 billion in the first half of 2024. This impressive growth showcases the company’s enhanced market penetration and its ability to attract and retain clients. The expansion of operations across various service areas, including passenger handling, ramp handling, cargo handling, and warehousing, contributed significantly to the revenue surge. This positive trajectory underscores the company’s commitment to providing comprehensive and efficient aviation ground handling solutions. The substantial revenue growth further strengthens SAHCO’s financial position and reinforces its position as a leading player in the aviation handling industry.
Further dissecting the financial performance, SAHCO’s gross profit doubled to N7.14 billion from N3.75 billion in the first half of 2024. This impressive growth in gross profit indicates enhanced operational efficiency and effective cost management strategies. Simultaneously, the company’s operating profit also more than doubled, reaching N4.65 billion compared to N1.87 billion in the corresponding period of the previous year. This substantial increase in operating profit reflects the company’s ability to translate its revenue growth into improved profitability. These positive figures highlight SAHCO’s operational excellence and its ability to generate significant returns from its core business activities.
While SAHCO experienced growth in administrative expenses, rising to N2.6 billion from N1.94 billion, this increase is directly correlated with the company’s expanded operational activities. The higher administrative costs are justifiable considering the substantial revenue and profit growth achieved during the period. Moreover, the company’s finance costs remained relatively stable at N73.17 million compared to N74.53 million in the previous year, demonstrating prudent financial management. However, finance income declined slightly to N7.5 million from N82.5 million. Despite a foreign exchange loss of N33.6 million, SAHCO’s total comprehensive income for the half-year rose significantly to N3.59 billion from N1.5 billion, further solidifying the company’s strong financial performance.
SAHCO’s robust financial performance also allowed for an increase in dividend payout to shareholders. The company declared a dividend payment of N812 million for the period, double the N406 million distributed in the same period of 2024. This increased dividend reflects the company’s commitment to rewarding its shareholders and sharing its success. This move underscores SAHCO’s financial strength and its confidence in future prospects. The higher dividend payout is likely to be well-received by investors and further enhance market confidence in the company’s long-term growth potential.
Furthermore, SAHCO’s balance sheet reflects a healthy financial position. The company’s total assets increased to N52.97 billion at the end of June 2025, compared to N37.96 billion in the same period of the previous year. This growth is primarily attributed to investments in property, plant, and equipment, and an increase in trade receivables. The expansion in assets demonstrates SAHCO’s commitment to enhancing its operational capabilities and supporting its future growth trajectory. Concurrently, the company’s equity strengthened to N36.36 billion from N26.63 billion, showcasing its robust financial health and stability. This strong financial foundation positions SAHCO well for continued growth and expansion in the dynamic aviation handling sector.
