By ADEBAYO OBAJEMU
Financial report of Skyway Aviation Handling Company Plc for the period ended 30th June 2020 which was released to the market on Wednesday, July 22nd, 2020 showed a decline in revenue to N3.1 billion in the current period from N3.5 billion recorded the preceding period of 2019, thereby shedding 11.90%.
The drop in the Topline figures, of the company that deals in transport related services is traceable to the total half in the business activities in aviation sector for a major part of quarter two due to the outbreak of COVID-19 in the world.
Skyway Aviation dipped in Profit after tax by 93%, closing the 2020 half year at N11.4 million from N171.5 million in the corresponding period of 2019
The earnings per share for the period under review stood at 1kobo, from the previous EPS of 13kobo in 2019.
With the reference to the share price of N2.93, the P.E ratio of the Aviation Company is at 347.19x with the earnings yield of 0.29%.