Chinedu Eze The Nigerian Aviation Handling Company Plc (nahco aviance) has paid gross dividend of 12.50 kobo per ordinary share of 50 kobo each, amounting to N203 million despite the devastating ef…
The Nigerian Aviation Handling Company Plc has paid gross dividend of 12.50 kobo per ordinary share of 50 kobo each, amounting to N203 million despite the devastating effect of covid-19 in the aviation industry.
The company said its group revenue has however reduced by 27 per cent to N7.330 billion, while gross profit was N2.285 billion in the financial year ended December 31, 2020. The group also earned N478. 09 million as profit from operations in 2020 as against N1.467 billion in 2019. He stated that the company closely monitored the global effects of the Covid-19 pandemic and its impact on the aviation industry, stressing that before the pandemic hit in 2020, aviation contributed an estimated $1.7 billion to Nigeria’s Gross Domestic Product and supported 241,000 jobs.
“Still in 2020, the Nigerian economy shrunk by 3 per cent while inflation rose from 11.4 per cent in 2019 to 12.4 per cent, leading the country into a recession. Also, the uncertainties towards the build-up to the United States election in quarter four and the unabating Covid-19 pandemic propelled drops in the world economy with far-reaching implications on Nigeria’s oil exports,” he said.
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