SAHCO declares N530.2m profit | Ripples Nigeria
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SAHCO declares N530.2m profit

SAHCO declares N530.2m profit

Airport and aviation service provider, Skyway Aviation Handling Company (SAHCO) has posted an after-tax profit of N530.172 million for Full Year 2019, a clear departure from the loss of N662.649 million recorded in the relative period of 2018.

The full details of the company’s financials in the period under review are published in the firm’s Unaudited Financial Statements for the Year Ended 31 December 2019, posted on the website of the Nigerian Stock Exchange (NSE) yesterday.

Revenue climbed to N7.667 billion at FY2019 up from the N6.136 billion recorded at FY2018, implying a 25% growth.

Profit Befor Taxation (PBT) stood at N891.033 million at FY2019 compared to a Loss Before Tax of N302.895 million posted in the corresponding period of 2018.

Profit for the Period was N530.172 million relative to a loss of N665.649 million declared in the same period of 2018.

Read also: Total records 70% slump in 2019 Full-Year Profit

A 120% appreciation in Other Operating Income from N19.386 million at FY2018 to N42.599 million at FY2019 also contributed to the firm’s profit.

Earnings Per Share (EPS) recorded a positive tunaround from the negative figure of –N0.49 at FY2018 to N0.39 at FY2019.

SAHCO currently trades on the floor of the NSE at N4.15 per share.

Earnings Per Share is the profit that each unit of a company’s ordinary shares  yields  during a particular period. It is simply calculated by dividing the Profit After Tax by the company’s total outstanding shares.

Increase in a company’s EPS often reflects an improvement in its bottom-line while a fall, on the other hand, indicates a declining profit.

Ronald Adamolekun

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About the author

Ronald Adamolekun

Ronald Adamolekun is a creative writer with a mixed bag of experience in fields as diverse as data journalism, financial reporting and editing.

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