Prime Business Africa
Investments in Nigerian Aviation Handling Company Plc (NAHCO) and Caverton Offshore Support Group Plc were more profitable than those in Skyway Aviation Handling Company Plc in the first half (H1) of 2026.
While shareholders of Nigerian Aviation Handling Company and Caverton Offshore Support Group recorded a combined gain of N367.46 billion between January and June of this year, those of Skyway Aviation close the period with a loss.
Prime Business Africa’s (PBA) analysis of aviation stocks indicates that between the first quarter (Q1) and the second quarter (Q2) of 2026, traders in the Nigerian Exchange (NGX) had more confidence in the growth prospects of the Nigerian Aviation Handling Company and Caverton Offshore Support Group, than they have in Skyway Aviation.
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Skyway Aviation Handling Company
Skyway Aviation stock was not profitable for shareholders in the first half of 2026, as investment held in the company depreciated by 16.95 percent, according to Prime Business Africa’s analysis.
The shareholders lost N1.35 billion combined between January and June 2026, while the company’s market valuation decreased from N7.98 billion recorded at the start of Q1 to N6.63 billion at the end of Q2.
It was gathered that the loss was driven by a N1 decline in Skyway Aviation’s share price, which was traded at N5.90 kobo per share on January 2, but was sold at N4.90 kobo on June 30.
Nigerian Aviation Handling Company
The outcome was different for shareholders of Nigerian Aviation Handling Company, after their investments appreciated by 37.50 percent in the first six months of this year, following a N40.50 kobo jump in share price.
During trading in the Nigerian stock market on January 2, equity traders exchanged a share of NAHCO’s at N108, however, by the end of the second quarter, the traders were offering N148.50 kobo per share.
Following the double-digit growth in NAHCO’s share price, the shareholders of the company recorded a combined gain of N90.21 billion between the first quarter and the second quarter of this year.
This led to the market capitalisation of NAHCO’s rising to N330.78 billion on June 30, compared to the N240.57 billion it started the year with.
Caverton Offshore Support Group
In the first six months of this year, shareholders of Caverton Offshore Support Group recorded 93.56 percent growth in their investments, the highest increase experienced in the sector on the NGX in H1.
The appreciation in their investments followed an N82.75 kobo increase in Caverton’s share price, which surged to N171.20 kobo at the end of the second quarter, from the N88.45 kobo recorded at the start of the first quarter.
Prime Business Africa’s analysis showed that the share price soaring twofold led to the company’s shareholders earning a combined N277.25 billion gain during the period under review.
Caverton’s share becoming more costly raised the value of the company, as the firm’s market capitalisation increased to N573.60 billion at the end of the first half, above the N296.35 billion the logistics provider was worth at the start of H1.
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Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.
Dr Mbamalu, who serves as Founder and Publisher, set up Prime Business Africa to deliver sharp, data-driven reporting on Nigeria’s markets, trade, investment, and governance trends for decision-makers, entrepreneurs, and policy leaders.
He also writes The Bottom Line, a backpage column for Punch Newspaper every Thursday.
Under his leadership, Prime Business Africa combines deep newsroom experience with a focus on accountability journalism, aiming to bridge information gaps between Africa’s private sector and the global economy.
