SAHCO assures shareholders of improved performance


Lagos, June 22, 2021 Skyway Aviation Handling Company (SAHCO) Plc on Tuesday assured shareholders of good returns on their investments and efficient service delivery in the years ahead.

SAHCO Chairman, Dr Taiwo Afolabi, gave the assurance at the company’s 11th Annual General Meeting (AGM) in Lagos.

Afolabi said the company would remain committed on its drive of becoming one of the leading ground handling companies in Africa in terms of market share, client base, profitability and revenue.

He explained that the management had been mandated to pursue and deliver enhanced performance in 2021 and the years ahead.
Afolabi said the company would focus on key areas to achieve the target.

According to him, the key areas are new business drive, customer relationship management, brand equity improvement and effective pricing of services.

The chairman added that the company would devote sufficient resources to new equipment acquisition, infrastructural and human capital development to boost profitability.

Afolabi noted that shareholders remained a key interest group as the owners of the business.

He, however, appreciated the shareholders for their continuous support and for investing in the company.

“Let me further reiterate and assure that the company will always make decisions in the overall best interest of all shareholders,” he said.

Also speaking, SAHCO Managing Director, Mr Basil Agboarumi, commended the shareholders for their support over the years.

Agboarumi said the company recorded a decrease of nine per cent in its revenue from N7.66 billion in 2019 to N6.98 billion in 2020.

He, however, said the company’s profit for the year stood at N482.38 million against N261.94 million achieved in 2019.

“The boost in our performance is as a result of the commitment of the workforce, and the smart marketing strategies,” Agboarumi said.

The managing director said the company in its quest to provide top-notch services, acquired environmental eco-friendly electronic powered baggage tow tractors and fork lifts.

Earlier, the shareholders unanimously approved a total dividend of N223.32 million recommended by the board of directors.