Nahco

[hispy99]

TURNOVER PBT TAX PAT
N'000 N'000 N'000 N'000
30-Sep-08 9 Mths N3,204,000 N1,183,000 (N378,877) N805,113
30-Sep-07 9 Mths N2,613,000 N562,898 (N180,127) N382,771
22.62% 110.16% 110.34%

[nzemillion]

I bougth the last Nahco P.O and i´ve not received my certificate and that of my returned money. Pls, can somebody kindly help me by providing the Nahco registras address and phone number....

[BLUEMONEY]

Originally Posted by nzemillion

I bougth the last Nahco P.O and i´ve not received my certificate and that of my returned money. Pls, can somebody kindly help me by providing the Nahco registras address and phone number....

Here is it.

2nd Floor, Primrose Towers, 17 Tinubu Street, Lagos.

Telephone +234 1 2793030, 2641298

Click this link for more info: City Securities Limited - Nigeria

[nzemillion]

Thanks Bluemoney...

[citizen]

NAHCO: Enhanced Trend In Third Quarter

By Emele Onu, Finance Editor

The performance trend of the aviation operator, Nigerian Aviation Handling Company Plc (NAHCO) was enhanced in the third quarter to September 30, 2008. Relating the nine months financials and other fundamentals of the company to the prevailing share price of about N14 per share, will make the stock appeal to the discerning investor that is eager to make profit upon the stock market rebound.

The organization in the review period recorded over a doubling in net profit as Profit After Tax leapt by 110 percent to N805 million from N383 million garnered in the comparable period of the previous year.

The leap in net profit boosted the earnings per share (eps) position as it shot up by 64 percent from 50 kobo to 82 kobo.

Interestingly also is the growth in profit margin to 25 percent against 15 percent it was in the comparable period of the previous year.

Turnover on its part advanced by 23 percent from N2.61 billion to N3.2 billion.

NAHCO is currently trading at the stock market in the region of its year low of N13.56. Comparing the projected year end earnings per share of the equity which is put at about N1.10 to the prevailing share price of about N14, the stock has PE Ratio of 12.72x which is good.

It is the opinion of analysts that investors that take position in the equity at the current price will benefit significantly at the market rebound.

The remarkable increase in profit margin that is a measure of earnings capacity is a plus on the stock.

More importantly, it is believed that the efforts of the management to diversity the business will grow the topline tremendously, with the expansion believed to have the tendency to lower average and by that broaden the bottomline.

NAHCO rolled out its new plan to grow scale and earnings recently.

In a presentation to shareholders, the financial press and other relevant shareholders, the Managing Director, Mr. Bates Sule disclosed that the outfit is diversifying into auxiliary services like travel, tour, courier and airport facilitation among others.

NAHCO is arguably a near monopolist in the cargo handling business at present. It covets a very large chunk of the market share across the nation's airports.

By diversifying into the above areas that are related to its core business, the thinking is that it will be moving for dominance across the value chain that covers airport and passenger services. That of course holds strong prospects for the shareholders, supported by the past trend of the company in terms of volume and value of business.

The other point of interest from the presentation was the disclosure that NAHCO is constructing an ultra modern cargo shed in Port Harcourt at the cost of over N170 million. It plans a similar project in Abuja and is already seeking the approval of the Federal Aviation Authority (FAAN) for that purpose.

With all the expansion plans and the likely positive impact on earnings, profitability and returns, the investor can consider the slide in the company's share price as temporary and an opportunity to invest for medium to long term gains.

The beauty of investing in the organisation is enhanced by the inroads it is making in all areas of the value chain that are airport and passenger services. They promise sustainable earnings stream for the company.

Many investors that opt for wide mix of portfolios, of course encompassing the aviation sector, are looking the way of NAHCO as arguably the only viable stock in that sector.

NAHCO renders unique services to almost captive customers, many of which are ironically its shareholders. The profile of the clientele include: Air France, Africa International, Afrijet, Alitlia, Bellview Airlines, British Airways, Das Air Cargo, DHL, Ethiopian Airlines, Emirates and Ibera.

Others are KLM Airlines, Kenya Airways, Lufthansa, North American Airlines, Saudia, South African Airways, Turkish Airlines, Virgin Atlantic, Virgin Nigeria and Ad-Hoc Operators.

During privatization, the Board restructured the management and repositioned the organization for superior performance. It created new departments and deployed competent personnel that are responsible for the positive changes already highlighted.

The company is a beneficiary of the federal government privatization policy under the Privatization and Commercialization Act of 1999.

Under the Act, the federal government divested the 60 percent shareholding of the company held on its behalf by the Federal Airports Authority of Nigeria (FAAN) through an initial public offering.

FAAN's 180 million ordinary shares of 50 kobo each were offered for sale at N5.50 kobo per share from October 31 to November 28 and was over subscribed by 200 percent.

The aviation company is owned post privatization to the tune of 60 percent by Nigerian shareholders. The remaining 40 percent was distributed in the following proportions: British Airways 12.5 percent, Air France 12.5 percent, Lufthansa 7 percent and Sabena (in liquidation) by 8 percent respectively.

[citizen]

NAHCO posts N805m third quarter profit
By Gbenga Agbana

BARRING all unforeseen circumstances, the after tax profit of Nigerian Aviation Handling Company Plc (NAHCO) will hit N1 billion at the end of the current financial year, going by the N805 million after tax profit recorded at the end of the third quarter ended September 30, 2008.

Speaking at an interactive session with the media yesterday, the Managing Director of the company, Mr. Batas Sule said the feat was achieved over a turnover, which stood at N3.5 billion in the nine months period under review, which is expected to rise to N5 billion at the end of the year.

He said: "The result in 2008 shows that it has been incredible performance despite various challenges. We started the year on the hope that we will surpass our projections and the performance has been impressive based on the figures given to you before".

On the effect of privatisation on the company, Sule said it is a blessing because the company now has many shareholders and the staff are more committed than before.

"Privatisation is a blessing because the ownership has changed now, we now have 80,000 shareholders and attitudinal change on the part of our staff. The way we conducted our business has changed. Privatisation has really helped the company".

On the company's outlook for the 2009 financial year, Sule said there are plans in place to increase the company's profitability to N1.9 billion post tax, and enhance capital appreciation for shareholders through various expansion programmes and new inventions that would broaden the horizon of the company.

His words: "We expect to make N1.5 billion profitability in 2009, subject to the approval of the board of directors. We also plan to improve capital appreciation for our shareholders."

He continued: "We recently signed an agreement with Dana Air to handle their cargo. We plan to diversify our business and we are going to Monrovia, Liberia and Sudan through a third party arrangement.

"We also plan to go into new ventures like courier services, which will commence mid 2009, and will enhance our profitability. We will also motivate our existing staff, train them and improve on our corporate social responsibility (CSR). The important thing is to enhance shareholders returns