Red Star Express Plc has announced its unaudited results for the third quarter ended December 31, 2024, showcasing strong financial performance and consistent growth. The Group recorded a turnover of ₦5.81 billion for the quarter, representing a 35% increase compared to the same period last year. Year-to-date revenue stood at ₦15.54 billion, up from ₦11.50 billion recorded in the corresponding period of 2023.
The company also posted significant improvements in profitability. Profit Before Tax rose to ₦229.28 million in Q3 2024, compared to ₦119.12 million in Q3 2023. Profit After Tax also advanced to ₦142.49 million, reflecting a 77% increase year-on-year. These results underline Red Star Express’ continued resilience and execution strength across its logistics and e-commerce operations.
The Board remains optimistic about a stronger close to the financial year, projecting even better performance in Q4 barring any unforeseen circumstances. Red Star Express continues to focus on innovation, customer satisfaction, and operational efficiency to sustain its growth trajectory and deliver long-term value to stakeholders.