WorldStage Newsonline– Red Star Express Plc, a quoted firm on the Nigerian Stock Exchange (NSE) that is into provision of courier, freight forwarding and logistics services, mailroom management services, warehousing, e-commerce has released its unaudited financial report for the third quarter (Q3) ended 31st December, 2020 with a profit after tax of N92.035 million as against N106.526 million in Q3 2019.
The Q3 profit is 49.07% short of N180.724 million forecasted by the company as earlier reported by WorldStage.
The group’s turnover in Q3 fell to N2.599 billion from N2.624 billion in Q3 2019. It was also short of N2.970 billion forecasted by the company.
Red Star Express Plc was incorporated as a Private Limited Company on 10th of July 1992 under the name, Red Star Express Nigeria Limited and commenced business operations on 12th of October 1992.
The Company was subsequently converted to a Public Company in July 2007 and had its shares listed on the Nigerian Stock Exchange on November 14, 2007.
The Company has three subsidiaries; Red Star Logistics Limited, Red Star Freight Limited and Red Star Support Services Limited.
