• Business - Companies
  • Updated: July 05, 2022

Red Star Express Plc Records 87% Increase In Profit

Red Star Express Plc Records 87%  Increase In Profit

A Profit Before Tax of N413.9 million has been recorded by  Red Star Express Plc for the year ended March 31, 2022, which reflects an increase of about 87%, from the sum of N220.8 million recorded in the same period of 2021.

This disclosure was filed in a statement of comprehensive Income released on Tuesday by the Management of the Group.

The group also recorded a revenue earning of N12.6 billion, which is 34% greater than the  N9.4 billion recorded in the corresponding period of 2021, while the company’s share capital rose to N477 million from N463 million.

The Group’s investments in property, plant and equipment also recorded a significant increase from the sum of N2.6 billion in 2021 to N2.9 billion in 2022.

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