NAHCO share­hold­ers hail board over 2015 re­sult

Daily Trust - - BUSINESS - By Chris Agabi

Share­hold­ers of the Nige­rian Avi­a­tion Han­dling Com­pany Plc, NAHCO Aviance, have com­mended the board and man­age­ment of the com­pany for declar­ing div­i­dend and profit for the 2015 fi­nan­cial year.

Speak­ing at its 35th An­nual Gen­eral Meet­ing (AGM) in Abuja yes­ter­day, the share­hold­ers said while most com­pa­nies were now post­ing losses, NAHCO Aviance was able to record an im­pres­sive turnover and growth in as­sets.

The com­pany’s turnover in­creased from N8.1 bil­lion in 2014 to N8.5 bil­lion in 2015, while its Profit Be­fore Tax (PBT) in­creased from N769.5 mil­lion in 2014 to N796.8 mil­lion in 2015.

The share­hold­ers also ap­proved div­i­dend pay­outs of N324.8 mil­lion at 20kobo per or­di­nary share of 50kobo less with­hold­ing tax for the fi­nan­cial year ended December 31, 2015.

Speak­ing at the AGM, na­tional co­or­di­na­tor of the In­de­pen­dent Share­hold­ers As­so­ci­a­tion of Nige­ria, Sir Sunny Nwosu, said: “To­day we have seen the use­ful­ness of right think­ing and fo­cus by the chair­man and the board. We are happy with the 20k div­i­dend.”

The chair­man of the Share­hold­ers’ Trus­tees As­so­ci­a­tion of Nige­ria, Otunba Mukhtar Mukhtar, said de­spite the dif­fi­culty be­ing ex­pe­ri­enced by many com­pa­nies in Nige­ria and with over 40,000 flight can­cel­la­tions, it is com­mend­able that the chair­man of NAHCO, Suleiman Yahyah, and the board suc­ceeded in grow­ing the com­pany’s earn­ings.

Other share­hold­ers who spoke glow­ingly about the board and the man­age­ment in­clude, Sir Shola Abo­dun­rin from Ibadan and Mr. Taiwo Aderinde among other share­holder as­so­ci­a­tion rep­re­sen­ta­tives.

The chair­man of NAHCO Aviance, Malam Suleiman Yahyah, said the com­pany had strate­gized to make sure that it emerged as one of the win­ning com­pa­nies as Nige­ria’s econ­omy en­ters into re­ces­sion.

The share­hold­ers also ap­proved the ap­point­ment of Mrs Fo­lashade Ode as a di­rec­tor and Com­pany Sec­re­tary.

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