Red Star Express projects N161.6m profit for Q2

By Kayode Tokede

Red Star Express Plc, a quoted firm on the Nigerian Exchange (NGX) that is into provision of courier, freight forwarding and logistics services, mailroom management services, warehousing, e-commerce has released a forecast of income forecast for second quarter July- September 2021 with turnover projection of N2.968 billion.

Profit after tax(PAT) was also projected at N161.642 million.

The firm had recorded a decline in its 2020 Q3 pre-tax profits, as total revenues declined.

Red Star Express Plc – a courier and package delivery company, reported pre-tax profits of N98.53 million in 2020 Q3 compared to N156.66 million recorded in the same period in 2019 – a 37.10per cent decline.