Red Star Express Projects N302.6m Q1 Profit After Tax

Red Star Express Plc has projected a profit after tax of about N302.64 million for the first quarter ending June 30, 2026, according to its cashflow and earnings forecast released on the Nigerian Exchange Limited.

The logistics firm expects to generate N1.03 billion in revenue during the period. Cost of sales is projected at N528.28 million, resulting in a gross profit of about N502.86 million.

The company also forecast other income of N4.53 million, which is expected to further support earnings for the quarter.

However, administrative expenses are estimated at N315.23 million, while interest and similar charges are projected at N0.6 million, bringing total operating expenses to approximately N315.77 million.

After accounting for these costs, profit before tax is projected at N451.71 million. An estimated income tax of N149.06 million is expected to bring profit after tax to about N302.64 million for the quarter.

Cash flow projections show that cash generated from operations is expected to reach about N223.36 million during the quarter, despite payments to suppliers and employees estimated at N5.47 billion.

The company also plans capital expenditure of about N92.01 million on property, plant and equipment, while interest income of N123.68 million is expected to support investing activities.

Overall, Red Star Express expects a net cash inflow of N206.56 million, which will increase its cash and cash equivalents from N1.18 billion at the beginning of the period to about N1.39 billion by the end of the quarter.