Following improvement in its financial results, Red Star Express PLC on 25th Jan., 2019 through The Exchange released its Q3’18 results, indicating 21.86% growth in revenue to N7.5 billion from N6.2billion recorded in the previous corresponding period of 2017.
Profit before tax soared by 24.71% from N482 million in 2017 to N534 million, while profit after tax grew from N291 million to N363 million.
Earnings per share consequently grew from 0.49kobo to 0.62kobo in the corresponding period, representing about 27% growth with just about 500 million share outstanding.
At a stock price of N5.00, the company’s price to earnings ratio stood 8.12x with about 12% earnings yield as at when computed.
Red Star Express Plc provides a portfolio of full logistic solutions which includes, but not limited to International and Domestic express delivery, Freight Forwarding, Integrated Logistics Solutions, Information and Document Management Solutions, Warehousing and E-commerce Solutions.