NAHCO Aviance has maintained the robust financial performance from last year and Q1 2025. Here is a brief walkthrough of H1 2025 numbers.

H1 2025 numbers

NAHCO made N32.3 billion in revenue for the six months ended June 2025. Up 102% year on year

The company made N8.8 billion in profit after tax . Up 160% year on year.

Key driver behind the higher revenue was higher income from aircraft handling. About 64% of all revenue is from that segment

Revised forecast

Few weeks ago, the stock hit N100 for the first time. Since then, its retraced and then grown above that.

I have a Target price of 12X. H1 2025 earnings per share came in at N4.55. If that run rate continues, then full year earnings should be N9.1

I have a target price of 12X earnings. Thats N109. Current price is 101. So thats a potential upside of around 7.37%

Ideal entry price for me would be between 90 to 95

I think FY 25 earnings would come in much higher. Q4 tends to be a really strong quarter due to festive traffic. 

So let me know, what you think.

Please note. This is not investment or trading advice.