Despite 23.2% revenue rise, SAHCO records N302m loss in PBT

Michael Ajayi

Despite generating N6.2 billion revenue in 2018, Nigeria’s second largest aviation handler, Skyway Aviation Handling Company Plc (SAHCO) recorded a loss in its Profit Before Tax (PBT) of N302.1 million in 2018.

Although, the firm during the year under review increased its revenue by 23.2 per cent to N6.2 billion as against N4.9 billion declared in 2017.

In its 2018 financial statement sent to The Nigeria Stock Exchange (NSE), the company explained that total assets in 2018 stood at N23.1 billion compared to N14.5 billion attained in 2017.

Within the period under review, the board did not recommend dividend payment while the loss before tax was put at N302.1 million.

Meanwhile, the company explained that it did not make any political donation during the year.

Details of the financial statement indicate that “Charitable gifts of N15.8 million were given out in accordance with the company’s policy on social development and improvement of the community, the environment and hygienic conditions of the less privileged,” the statement noted.