SAHCO Eyes Bigger Market Share, Assures Of Juicier Returns To Investors
The board of Skyway Aviation Handling Company Plc (SAHCO) says it is, more than ever poised to expand its market share while seeking to become a leading ground handling companies across Africa in terms of market share, client base, revenue and profitability.
Attainment of this goal, the company’s chairman, Dr Taiwo Afolabi, assured shareholders at the 11th Annual General Meeting (AGM) on Tuesday in Lagos will translate to enhanced returns on their investments in the years ahead.
Afolabi added that with a next level mentality firmly entrenched by the board, the management had been mandated to pursue and deliver a better earnings in the 2021 full-year, and those ahead.
According to him, the keys areas that will receive greater attention from the management to achieve the target include new business drive, customer relationship management, brand equity improvement and effective pricing of services.
The chairman further assured that SAHCO would devote sufficient resources to new equipment acquisition, infrastructural development and human capital development to ensure profitability.
Shareholders, he stressed, remain a key interest group as owners of the business, applauding their continuous support over the years, which he said, is why “the company will always make decisions in the overall best interest of all shareholders.”
Speaking on the company’s financial performance, Basil Agboarumi, its Managing Director, said SAHCO recorded a 9% drop in its revenue from N7.655bn in 2019 to N6.981bnin 2020, despite which there was a profit after tax of N482.377m in 2020, much more than the N261.943m reported in the preceding year.
This, he explained, was achieved in spite of the challenges caused by the COVID-19 pandemic, due to “the commitment of the workforce, and the smart marketing strategies.”
He said the company in its quest to provide top-notch services, acquired environmental eco-friendly electronic powered baggage tow tractors and forklifts with zero emission and fitted with the latest technological innovation in the aviation industry.
At the meeting, shareholders of SAHCO unanimously approved the distribution of N223.34m in total dividend, which translates to 16.5 kobo per share as recommended by the directors.
Photo caption: From left, Barr. Chike Ogeah, Vice-Chairman, Skyway Aviation Handling Company (SAHCO) Plc; Basil Agboarumi, the company’s MD/CEO; Dr. Taiwo Afolabi, its Chairman; and Omolara Bello, Assistant General Manager, Legal Services and Company Secretary; during the 11th Annual General Meeting in Ikeja, Lagos on Tuesday, June 22, 2021.