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 a forecast of N180.724 million profit after tax for the third quarter (Q3) from October 2020 – December 2020 as against a loss after tax of N224.960 million during the first quarter ended 30th June, 2020 (Q1).
The forecast released at the NSE signed by Sola Obabori, Group Managing Director and Auwalu Babura, Executive Director – Finance & Admin projected a turnover of N2.970 billion from N1.420 billion in Q1 2020.
The Cash and cash equivalents at the beginning of the Quarter at N398.562 million was projected to rise to N572.296 million at the end of the year.
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.
