The Nigerian Leading courier and packaging company, Red Star Express Plc, has recorded a 19% plunge in its after-tax profit for quarter 3 ended 31st December, 2019 relative to the figure it posted in the same period of 2018.
The company’s Turnover dipped by marginal 2% to N2.624 billion in the review period compared to the N2.677 billion posted in the corresponding period of 2018.
Its Profit Before Income Tax slumped from N181.702 million at Q3 2018 to N148.004 million at Q3 2019, representing an 18.5% drop.
While its Profit for the Period declined by 18.5% from N123.557 million at Q3 2018 to N100.643 million at Q3 2019.
Earnings Per Share shrank by 19% from 21kobo at Q3 2018 to 17kobo at Q3 2019.