NAHCO AVIATION HANDLING PLC's GOOD TRY.

NAHCO Aviation Handling Company PLC put up a good fight in 2015 financial year but it was not good enough to stop the slight weakening of its bottom line.
According to the audited results released not too long ago, NAHCO was man enough to hold down its overhead costs in 2015 while increasing both core and total revenue marginally.
Core revenue growth had come to only 4.63% to N8122.5m from N8498.6m while total income rose by 4.81% to N8713.6m from N8313.5m.
To generate this marginal increase NAHCO drove down selling and distribution costs by 5.94% to N137.8m from N146.5m and administration expense by 6.53% to N2257.7m from N2415.4m.
The only cost unit it could not cage was direct costs which ended the year 11.8% up at N5270.7m compared to N4713.3m previously.
But net finance charges ended less menacing as it came to N250.7m compared to N279.8m in 2014.
The reward for these efforts was the 3.55% increase in profit before tax recorded from N769.5m to N796.8m.
Of course, this was behind the increase in total income  hence, the slight decrease in gain on each N100 income from N9.26 to N9.14 was inevitable yet a good try for a year that tried many corporate souls in Nigeria.
SO:
* Not to worry, better profit growth seems possible in 2016 all things being equal
* Particularly, if liquidity management efficiency and cost control change into higher gear as demanded by the tough times.