NAHCO’s Director, Tajudeen Shobayo purchases additional N11.44 million worth of shares

Tajudeen Shobayo, Non-Executive Director of Nigerian Aviation Handling Company Plc (NAHCO) has acquired an additional 540,730 shares in the company worth N11.44 million.

This information was disclosed in a notice of Directors Dealings signed by Company Secretary, Bello A. Abdullahi and sent to the Nigerian Exchange Limited.

What the company is saying
The notice signed by Company Secretary, Bello A. Abdullahi revealed that the transaction was done on 12centers September 2023.

The 540,730 units of NAHCO shares were bought at an average price of N21.15 per share.

Brief Profile of Tajudeen Shobayo
Mr. Tajudeen Shobayo is an alumnus of the University of Liverpool, UK, and a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN).

During his illustrious career, he has attended several professional courses in Nigeria, the Netherlands, the UK, and the United States in Economics and Valuation, Opportunity/Project Management, Contract Management, Capital Budgeting, Fraud and Risk Management, and Strategic Cost Leadership.

His 38 years of work experience span public and private sectors in oil & gas, education, real estate, and agriculture and management and board levels.

What You Should Know
In its unaudited financial statement for Q1 2023, NAHCO Plc reported a 97% profit growth.

The unaudited figures released to the NGX showed that NAHCO recorded an impressive 52% YoY growth in revenue to N4.294 billion.

An analysis of the revenue showed a greater percentage of the revenue came from passenger/aircraft handling and Cargo handling income centres.

Passenger/aircraft handling accounted for the highest percentage of 68.90% in Q1, just like in FY 2022 (58% of total revenue).

Specifically, the company realized N2.959 billion in this segment of its business, up from N1.453 billion in Q1 2022.

On the other hand, Cargo handling remained the second highest with N1.174 or 27.33% of the total revenue in Q1 2023.