Business

Skyway Aviation Reports Robust Profit Growth, Revenue Up 54% in 2025

Published

2 days ago

April 6, 2026

Preport

Skyway Aviation Handling Company Plc delivered a robust financial performance for the year ended December 31, 2025, with profit after tax more than doubling to N11.73 billion, underscoring strong operational momentum and improved efficiency across its business lines.

The company’s audited results show revenue rose significantly by 54 per cent to N44.46 billion in 2025, up from N28.94 billion recorded in 2024. The growth was driven largely by increased demand for passenger and cargo handling services, alongside improved contributions from ancillary and Value Chain operations.

Costs of sales also climbed during the period, rising to N18.98 billion from N12.56 billion in the prior year. However, the increase was outpaced by revenue growth, resulting in gross profit expanding to N25.48 billion from N16.38 billion in 2024.

Operating performance remained strong, with profit from Operations nearly doubling to N14.62 billion compared with N6.53 billion recorded a year earlier. This was achieved despite higher administrative expenses, which rose to N11.24 billion from N10.05 billion, reflecting inflationary pressures, increase in utility and increased personnel costs.

After accounting for a tax expense of N2.55 billion, profit after tax stood at N11.73 billion, representing a 142 per cent increase from N4.83 billion in the previous year.

Total comprehensive income for the year came in at N11.42 billion, compared with N6.89 billion in 2024, reflecting a foreign exchange loss of N314.5 million during the period, in contrast to a gain recorded in the prior year.

The company’s balance sheet remained solid, with total assets increasing to N56.58 billion as at December 31, 2025, from N41.78 billion in 2024. The growth was largely driven by a significant rise in property, plant and equipment, which climbed to N24.61 billion from N16.03 billion, indicating continued investment in operational capacity.

Shareholders’ equity also strengthened, rising to N39.87 billion from N29.27 billion, supported by retained earnings growth to N21.74 billion.

Cash flow generation improved markedly, with net cash inflow from operating activities rising to N13.47 billion from N5.01 billion in the previous year. The company ended the year with cash and cash equivalents of N5.70 billion, up from N3.03 billion in 2024.

Despite increased capital expenditure of over N11 billion on fixed assets, Skyway maintained positive financing cash flow, supported by additional borrowings during the year.

Earnings per share rose to 867 kobo from 357 kobo in 2024, reflecting the strong profitability performance and enhanced shareholder value.

The company, however, declared a final dividend of N1.6 billion to its shareholders for the year under review.

Overall, Skyway Aviation Handling Company’s 2025 results highlight strong revenue expansion, good operational efficiency, and sustained investment in infrastructure, positioning the firm for continued growth amid rising demand in Nigeria’s aviation services sector.
Speaking on the Company’s financial performance, the Managing Director/CEO stated that the results reflect the strength of SAHCO’s strategic direction, the resilience of its business model, and the unwavering commitment of its workforce. She noted that despite a challenging operating environment marked by inflationary pressures and rising costs, the Company sustained strong margins and nearly doubled its operating profit.
Dr. Barr Taiwo Afolabi (CON), Chairman of Skyway Aviation Handling Company PLC commenting on the financial report, emphasized that sustained investments in modern equipment and infrastructure have been instrumental in driving operational efficiency, enhancing service delivery, and positioning SAHCO for long-term growth.

Related Topics:Skyway Aviation Reports Robust

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Business

Coronation Insurance Redefines Motor Insurance in Nigeria with Launch of MotorMax

Published

6 hours ago

April 8, 2026

Preport

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Coronation Insurance Plc has announced the launch of MotorMax, an innovative motor insurance policy designed to transform the Nigerian motor insurance landscape by moving motorists beyond basic third-party compliance to affordable, comprehensive vehicle protection.

For decades, motor insurance adoption in Nigeria has largely been limited to mandatory third-party coverage. MotorMaxaddresses this gap by offering motorists robust, accessible protection for their own vehicles, with plans starting from as low as ₦25,000.

MotorMax introduces a flexible, tiered structure—Bronze, Silver, and Gold—tailored to meet the diverse needs and budgets of Nigerian drivers, from urban commuters to long-distance travellers and owners of high-value vehicles.

The MotorMax Bronze plan serves as an entry-level upgrade from basic third-party insurance. Priced at ₦25,000 annually, it offers vehicle repair coverage of up to ₦500,000; third-party vehicle damage coverage of up to ₦3,000,000; unlimited (but reasonable) compensation for third-party injury or death; towing services up to ₦5,000; emergency medical expense coverage up to ₦10,000; and a 10% policy excess.

The MotorMax Silver plan, available at ₦45,000 annually, enhances protection with vehicle repair coverage up to ₦750,000, increased towing benefits of up to ₦15,000 (intra-state) and ₦25,000 (inter-state), and emergency medical coverage up to ₦15,000.

At the premium tier, MotorMax Gold offers motorists near-comprehensive benefits at a significantly lower cost than traditional comprehensive insurance. Priced at ₦50,000 annually, it includes vehicle repair coverage up to ₦1,000,000; third-party vehicle damage coverage up to ₦3,000,000; unlimited liability for third-party injury or death; towing services up to ₦15,000 (intra-state) and ₦25,000 (inter-state); emergency medical coverage up to ₦20,000; and a 10% policy excess.

MotorMax is specifically designed for motorists currently on third-party policies who seek enhanced protection without the financial burden of full comprehensive insurance. By bridging the gap between compliance and comprehensive cover, the product empowers drivers with greater peace of mind on every journey.

Speaking on the launch, Olamide Olajolo, MD/CEO of Coronation Insurance Plc, said:

“MotorMax represents our commitment to reimagining insurance for the everyday Nigerian. We understand that many motorists want more protection than third-party cover but are constrained by cost. With MotorMax, we are providing a practical, affordable solution that delivers meaningful coverage and peace of mind. This is a significant step in deepening insurance penetration and ensuring more Nigerians are truly protected on the road.”

The launch of MotorMax underscores Coronation Group’s broader mission to deliver transformational solutions that address real-life challenges across Africa. By raising the standard for motor insurance offerings, Coronation Insurance continues to position itself as a customer-focused innovator in the industry.

Motorists can purchase MotorMax by emailing digitalsales@coronationinsurance.com.ng or calling 02-012275475 or 02-012275476.

The post Coronation Insurance Redefines Motor Insurance in Nigeria with Launch of MotorMax appeared first on Business Today NG.

Business

Naira Slides to ₦1,389/$ as External Reserves Fall to $49.18bn

Published

9 hours ago

April 8, 2026

Preport

BY NKECHI NAECHE-ESEZOBOR—The Naira weakened to ₦1,389 per dollar, down from ₦1,382.75/$ recorded before the Easter break, amid continued pressure in Nigeria’s foreign exchange market.

This contained in a notice posted on the official website of Central Bank of Nigeria,( CBN), that intraday trading saw the local currency fluctuate between ₦1,381/$ and ₦1,390/$, with an average rate of ₦1,386.3/$.

Meanwhile, the country’s external reserves fell by about $850 million over three weeks, declining to $49.18 billion between March 11 and April 2, 2026, highlighting tightening liquidity in the forex market.

Activity in the Non-Deliverable Forward (NFEM) interbank market recorded a turnover of ₦48.66 billion across 71 deals.

The post Naira Slides to ₦1,389/$ as External Reserves Fall to $49.18bn appeared first on Business Today NG.