Red Star Express PBT Rises 16.2% To N1.07bn, Dividend Up 29%

Red Star Express Plc has reported a 16.2 per cent increase in profit before tax (PBT) to N1.07 billion for the financial year ended March 31, 2026, compared with N921 million recorded in the previous year.

The improved performance prompted the company’s board to recommend a 45 kobo dividend per ordinary share, representing a 28.6 per cent increase from the 35 kobo paid to shareholders in the preceding financial year.

The company disclosed the results at its 2026 Annual General Meeting (AGM) in Lagos, where shareholders participated both physically and virtually.

Group Managing Director of Red Star Express Plc, Auwalu Babura, attributed the performance to the company’s focus on technology adoption, disciplined cost management, business development and the expansion of its service offerings.

He said the company was also strengthening strategic partnerships and expanding its reach across Nigeria to capitalise on growing demand for integrated logistics, distribution, and last-mile delivery services.

“We want to improve on our partnership with organisations, and presently, we are in several places across the country,” Babura said.

Group revenue rose by 8.5 per cent to N23.49 billion from N22.66 billion in the preceding year, while profit after tax increased by 7.1 per cent to N585.26 million.

Babura said the changing business environment was creating new opportunities for logistics operators as businesses increasingly sought reliable distribution and supply chain solutions.

He said Red Star Express would continue to deploy technology, strengthen partnerships and expand its service capabilities to improve operational efficiency and customer experience.

Chairman of Red Star Express Plc, Suleiman Barau, said the company’s performance demonstrated its resilience despite the challenging operating environment.

Barau identified technology as a key driver of the company’s growth, noting that Red Star Express had invested in an Enterprise Resource Planning (ERP) system to enhance integration and efficiency across its operations.

He said the company remained committed to expanding its operations while delivering sustainable long-term value to shareholders.

The board’s proposed 45 kobo dividend, subject to shareholders’ approval, represents an increase of 10 kobo per share over the previous year.

The company said its outlook remained positive, citing increased digital adoption, changing customer expectations and rising demand for integrated logistics solutions.

Shareholders at the AGM commended the board and management for sustaining profitability and increasing dividend payments despite prevailing economic challenges.