Skyway Aviation Handling Company (SAHCO) Plc’s Q2 2023 unaudited results show a remarkable 215.60% increase in pre-tax profits, reaching N1.38 billion.
The company generates its revenue primarily from foreign and domestic handling, cargo handling, equipment rental, and rental income from investment properties.
SAHCO recorded a revenue of N4.07 billion in Q2 2023, representing a substantial 30.58% growth compared to the same quarter in the previous year.
The significant pre-tax profit growth was attributed to a surge in foreign exchange gains, as the company gained N607.16 million in finance income this quarter, a notable increase from N5.23 million in the corresponding period last year.
Opinion: SAHCO’s impressive performance in Q2 2023 reflects its effective revenue diversification and positive foreign exchange gains. The company’s focus on handling services and investment properties has proven to be beneficial for its financial growth.