SAHCO AGM: Shareholders Approve 16.5 Kobo Dividend, Management Promises Better Performance

Shareholders of Skyway Aviation Handling Company Plc (SAHCO) will enjoy enhanced returns on their investments in the years to come.

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

He reiterated the company’s resolve to realise its target of becoming one of the leading ground handling companies in Africa in terms of market share, client base, revenue and profitability.

“With a next level mentality firmly entrenched by the board, the management had been mandated to pursue and deliver a better business results in 2021 and the years ahead. The keys areas that will receive greater attention from the management in order to achieve the target include new business drive, customer relationship management, brand equity improvement and effective pricing of services.” Afolabi said.

He disclosed that the company would devote sufficient resources to new equipment acquisition, infrastructural development and human capital development to ensure profitability even as he recognizes the shareholders’ interest as the owners of the business while appreciating them for investing in the company and for the continuous support over the years.

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

Speaking on the financial performance of the company, the Managing Director, Basil Agboarumi, said even though SAHCO recorded a decrease of nine per cent in its revenue from N7.655 billion in 2019 to N6.981 billion in 2020, the company made a profit after tax of N482.377 million in 2020 compared with the N261.943 million posted in 2019.

“The boost in our performance is as a result of the commitment of the workforce, and the smart marketing strategies in spite of the challenges caused by the COVID-19 Pandemic.” Agboarumi said.

L-R: Barr. Chike Ogeah, Vice Chairman, Skyway Aviation Handling Company (SAHCO) PLC; Basil Agboarumi, MD/CEO, SAHCO PLC; Dr (Barr.) Taiwo Afolabi MON, Chairman, SAHCO PLC and Omolara Bello, Assistant General Manager, Legal Services and Company Secretary, SAHCO PLC during SAHCO’s 11th Annual General Meeting at Marriott Hotel, GRA, Ikeja, Lagos.​

He noted that the company, in its quest to provide top-notch services during the financial year, acquired environmental eco-friendly electronic powered baggage tow tractors and fork lifts with zero emission, fitted with the latest technological innovation in the aviation industry.

The shareholders at the meeting unanimously approved 16.5 kobo per share dividend, recommended by the Board of Directors, which amounted to N223.34 million.

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