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

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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.

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NCC Moves to Roll Out Affordable Smartphones in Nigeria

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MATINS IBE(Abuja) —The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Dr. Aminu Maida, has announced the Commission’s intention to make low-cost smartphones available in the market.

He explained that the initiative is designed to ensure wider access to mobile devices for Nigerians at more affordable rates.

He made this known recently during a media briefing with journalists in Abuja, stating, “We are exploring ways to bring less expensive smartphones into circulation.”

He also noted that despite the push for affordability, there is a clear shift in usage trends, with more people adopting 4G technology while gradually moving away from 3G and 2G devices.

“From available data, we are observing a steady transition to 4G connectivity. Currently, over 52 percent of users are on 4G networks,” he added.

He also  commended media coverage of the telecommunications sector, describing it as instrumental in supporting the Commission’s work.

According to him, press reporting has helped in policy execution, keeping the public informed about developments, and ensuring regulatory accountability.

The post NCC Moves to Roll Out Affordable Smartphones in Nigeria appeared first on Business Today NG.

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NCC to Deploy External Auditors to Verify Operator Compliance on Customer Compensation

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BY OR REPORTER —In a move aimed at tightening regulatory oversight and improving service delivery standards, the Executive Vice Chairman of the Nigerian Communications Commission (NCC), Dr. Aminu Maida, has announced plans to deploy independent audit professionals to assess whether telecom operators are adhering to consumer protection directives, particularly on compensation for poor-quality service.

Maida disclosed this during the first media engagement session of 2026 held in Abuja on Friday, explaining that the initiative is designed to ensure full enforcement of recent rules requiring operators to compensate users affected by substandard voice and data performance.

According to him, “We will be bringing in external verification experts to confirm that service providers are complying with the established guidelines.”

He further revealed a significant decline in customer complaints relating to network quality, noting that figures dropped from 351,000 to 75,000 following the 2025 tariff review.

Maida encouraged subscribers to make use of the NCC’s dedicated toll-free channels—300 and 622—to report service challenges, while also directing them to the Commission’s online portal for guidance on common service-related issues.

He emphasized that regulatory actions are grounded in openness and accountability, stating that operators have already been issued clear policy instructions to guide compliance.

On infrastructure protection, Maida noted that cooperation with the Office of the National Security Adviser (ONSA) is yielding positive outcomes, with a noticeable reduction in fiber optic cable damage at construction zones across the country.

He also confirmed ongoing expansion of fifth-generation (5G) network infrastructure in major cities, alongside efforts to optimize unused spectrum resources. In addition, he said a comprehensive review of the National Telecommunications Policy is currently underway.

While acknowledging that sector performance still falls short of expectations, he stressed that steady progress is being made.

Other ongoing initiatives include resolution of outstanding USSD-related debts, implementation of a 24-month compliance timeline for new corporate governance standards for operators, and collaboration with the Central Bank of Nigeria (CBN) to advance digital financial access while curbing electronic fraud.

On handset pricing, Maida stated that regulatory decisions take global market dynamics into account, including coordination with manufacturers to ensure fair consumer pricing.

Addressing concerns over harmful online content, he said the Commission is working with relevant government agencies to develop appropriate intervention mechanisms.

Earlier, the Head of Public Affairs at NCC, Mrs. Nnenna Ukoha, described the forum as part of sustained stakeholder engagement efforts aimed at strengthening resilience and long-term stability in the telecommunications industry, adding that it provides a platform for dialogue, knowledge sharing, and media partnership.

Executive Commissioner for Stakeholder Management, Rimini Makama, also praised media practitioners for accurate reporting and for maintaining oversight of regulatory activities.

The post NCC to Deploy External Auditors to Verify Operator Compliance on Customer Compensation appeared first on Business Today NG.

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