WorldStage– Capital market investors tracking the logistics and supply chain sector have received a major boost as Red Star Express Plc released its unaudited financial statements for the second quarter ended September 30, 2026. The financial performance highlights sustained top-line expansion and improved bottom-line resilience across its core business segments.
Financial Highlights & Key Performance Indicators (KPIs)
Group Turnover: Surged to N13.22 billion for the six-month period (April to September 2026), representing an 18.2% growth compared to N11.19 billion recorded in the corresponding period of 2025.
Profit Before Tax (PBT): Advanced to N744.87 million, up from N675.21 million reported in the comparative period of 2025.
Profit After Tax (PAT): Rose to N491.61 million, compared to N459.12 million in the previous year.
Earnings Per Share (EPS): Grew to 52 kobo per share, up from 48 kobo in the comparative period, signaling increased value delivery for equity holders.
Total Assets: Expanded to N11.83 billion as of September 30, 2026, compared to N11.46 billion at the close of March 2026.
Shareholders’ Fund: Strengthened to N5.65 billion, bolstered by a healthy retained earnings reserve of N3.64 billion.
What’s Driving Growth?
A deep dive into the business segments indicates that growth was heavily anchored by expansion in the Freight and Logistics divisions, which continue to capture market demand amidst shifting macroeconomic dynamics:
Freight Services: Stood out as a major revenue driver, contributing N3.69 billion for the half-year ended September 2026, up significantly from N2.46 billion in the prior year.
Courier & Express Services: Maintained its core baseline strength, delivering N5.59 billion compared to N5.28 billion in 2025.
Support Services & Logistics: Continued to provide stable synergistic backing, with Logistics contributing N2.26 billion and Support Services pulling in N1.69 billion.
Analyst Perspective for Investors
As an equity investment consideration on the Main Board of the Nigerian Exchange (NGX), Red Star Express continues to demonstrate operational resilience. Despite inflationary pressures impacting direct operating costs and vehicle running expenses, proactive cost containment strategies and volume scaling have protected margins.With a strong asset backing, consistent earnings accretion, and a compliant free float standing at 35.27%, the company remains an attractive defensive play for income and value-oriented portfolios looking exposure in Nigeria’s evolving e-commerce and supply chain ecosystem.
