Skyway Aviation's Profit Drops 22% Despite Revenue Growth

Skyway Aviation Handling Company Plc (NGX: SKYAVN) (SAHCO) announced its unaudited financial results for the nine months ending September 30, 2026, revealing a pre-tax profit of N8.08 billion, a decrease of 22.13% from N10.38 billion in the same period of 2025. Revenue rose by 8.15% to N34.26 billion, up from N31.68 billion, but increased direct costs and administrative expenses led to a 36.65% drop in profit after tax to N5.33 billion, with earnings per share falling to 394 kobo from 622 kobo.

The third quarter showed significant improvement, with pre-tax profit soaring to N2.33 billion from N419.98 million in Q3 2025, marking a 455.32% increase. Despite revenue growth, direct operating costs surged by 16.54% to N16.37 billion, impacting gross profit, which rose only 1.48% to N17.89 billion.

The gross profit margin declined to 52.23% from 55.67%. Total assets increased by 6.17% to N87.79 billion, and net operating cash flow improved by 42.99% to N13.74 billion.

SAHCO shares closed at N171.20 on October 30, 2026.