Red Star Express Plc, a leading logistics and courier services company in Nigeria, has announced a 16.2% increase in Profit Before Tax (PBT) for the financial year ended March 31, 2026. The company's PBT rose to N1.07 billion from N924.72 million in the previous financial year. This growth was disclosed at the company's 2026 Annual General Meeting (AGM), which was held in person and virtually.
In addition to the increase in PBT, Red Star Express Plc also reported a 7.1% rise in profit after tax, from N546.26 million to N585.26 million. The company's group revenue also saw an 8.5% increase, rising to N23.49 billion from N22.66 billion in the previous financial year. These financial results demonstrate the company's ability to sustain growth despite a challenging business environment.
The company's Chairman, Suleiman Barau, attributed the growth to the company's continued focus on growth and long-term value creation for shareholders. He emphasized that the board had recommended a dividend of 45 kobo per ordinary share for the financial year, up from the 35 kobo paid in the previous year. This increased dividend recognizes shareholders' continued support and the company's commitment to delivering value.
The recommended dividend was agreed by all the shareholders who were physically and virtually present at the AGM. According to Barau, the company's performance indicated its ability to navigate the challenging business environment and create value for shareholders. The company's growth strategy has yielded positive results, and the board is committed to sustaining this growth trajectory.
Auwalu Babura, Group Managing Director of Red Star Express, attributed the improved financial performance to business expansion, technology adoption, disciplined cost management, and sustained business development efforts across the group. He explained that these initiatives had contributed to improved operational efficiency, stronger customer service, and sustainable revenue growth.
Babura also highlighted that the company had expanded and integrated its service offerings in response to changing market needs, with a focus on creating greater value for corporate and retail customers. This strategic move has enabled the company to stay competitive and adapt to the evolving needs of its customers.
The company's growth strategy and focus on delivering value to shareholders have yielded positive results. The company's financial performance for the 2026 financial year demonstrates its ability to sustain growth and create value for stakeholders. The company's board and management are committed to building on this momentum and driving future growth.
Key points
- Red Star Express Plc's PBT rose to N1.07 billion for the 2026 financial year.
- The company reported an 8.5% increase in group revenue to N23.49 billion.
- The board recommended a dividend of 45 kobo per ordinary share for the financial year.
