Nigeria’s second largest aviation handler, Skyway Aviation Handling Company Plc (SAHCO) says it recorded a loss before tax of N302.1 million, despite generating N6.2 billion revenue in 2018.
The revenue figure is 23.2 percent higher than N4.9 billion, which SAHCO earned in 2017, according to its financial book for the year ended December 2018.
In its 2018 financial statement sent to the Nigeria Stock Exchange (NSE) on Wednesday, the company explained that total assets in 2018 stood at N23.1 billion compared to N14.5 billion attained in 2017.
Within the period under review, the board did not recommend dividend payment while loss before tax was put at N302.1 million.
Meanwhile, the company explained that it did not make any political donation during the year.
Details of the financial statement indicates that “Charitable gifts of N15.8 million were given out in accordance with the company’s policy on social development and improvement of the community, the environment and hygienic conditions of the less privileged,” the statement noted.
Frontpage November 25, 2019