The Nigerian Aviation Handling Company Plc has mapped out strategies for growing its business in the next few months of the year.

Specifically, the company, in a statement on Wednesday, said that it had put plans in place to ensure that it increased its income base by the end of the year.

Its profit had recorded a dip in the first part of the year, occasioned by operational disruptions in the first part of the fiscal year.

Explaining this, the statement said, “Though, the first quarter of the year is usually the lowest season in the aviation industry, the company lost about 30 days to strikes in its cargo operations, due to disagreements between licensed cargo agents and Customs Service, as well as with the Federal Airports Authority of Nigeria.

“Parts of the Cargo Section, which is the company’s revenue basket, were also shut down early in the year to accommodate the construction of the new warehouse.”

It, however, noted that its various investments in the last few years were beginning to pay off for the business, adding that, “In the last two years, there have been massive investments in facilities and equipment. So far, $40m has been spent on the company’s ultramodern warehouse and fleets of Ground Support Equipment totaling 325.”

The statement explained further that the company also responded to the heightened security challenge by investing in bomb/explosive detection machines and CCTV surveillance system.

According to the statement, the management of nahco aviance is thrilled by the investments in the GSEs and the warehouse, which have capacity for cargo regional hub. The statement said the company was poised to translate them into improved performance and higher returns as the industry moves into high activity season in the second half of the year.

Meanwhile, the company’s subsidiary, NahcO Energy and Power Limited, has also been prequalified for the privatisation of the country’s power sector, according to the statement, while the Nahco FTZ Nigeria Limited is expected to stimulate economic activities at the nation’s airports.

At the close of trading activities on the Nigerian Stock Exchange on Wednesday, a total of 222,180 NAHCo shares, worth N1.27m were exchanged by investors in 51 transactions. Its price closed at N5.75 per share.

Source: Punch/Udeme Ekwere