Red Star Express Revenue Rises to ₦23.49bn as Pre-Tax Profit Grows 16%
Red Star Express Plc recorded an 8.5% rise in revenue to ₦23.49 billion for the financial year ended March 31, 2026, up from ₦21.66 billion in the previous year. Profit before tax grew 16.2% to ₦1.07 billion despite higher fuel, transportation and last-mile delivery costs. The logistics firm attributed the performance to business expansion, technology adoption, cost discipline and business development. It continued work on its RedSpeed digital logistics platform, customer-management systems and an enterprise resource planning system to improve shipment visibility, customer service and internal operations. The board recommended a dividend of 45 kobo per share, compared with 35 kobo in the previous year, subject to shareholder approval. The company also said it expanded solar-energy use at offices and continued education support programmes in its host community.
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