 |
| red star express |
Red Star Express Plc, leading logistics Company, today posted N6.7Billion turnover for
the financial year ended March 31, 2015 and a profit after tax of
N611million representing one percent increase in profit over 603.9
million profit for last year.
Keeping with the Company’s commitment in
the creation of wealth for shareholders and in appreciation of their
support at all times, the Company has declared dividend of 35Kobo per 50
kobo share, amounting to N206.3 million, a gesture commended by
shareholders present that the Company’s 22nd Annual General Meeting
(AGM) held in Lagos.
Speaking at the annual general meeting,
Mohammed H. Koguna, chairman, Red Star Express noted that, despite the
challenging business environment, depreciation of the Naira, slides in
crude oil prices resulting in reduction in government revenue, dearth of
infrastructure and other macro dynamics of the economy, the Company was
able to not just remain in business but returned some profit.
He attributed the success of the company
largely to trust and loyalty of its customers, partners and
stakeholders. He reassured customers that the company will continue to
improve on its products and services to meet and exceed their
expectations.
The Chairman reiterated the Company’s
commitment to corporate social responsibility (CSR), pointing out that
11 additional scholarships were awarded to students from different
schools in the Western and Eastern Regions of Nigeria under the Red Star
Foundation Scheme. Under the poverty alleviation arm of the Foundation,
various items were given to missionary hospitals – Saint Catherine
Hospital; Ahmadiyya Clinic Apapa and SOS Children Village as well as
Nigerian Red Cross Society.
On future outlook, Koguna said the
Company aims to tackle education and poverty challenges head on; and
empower all employees to excel. “The board and management of our dear
Red Star Express Plc, is in the process of restructuring and crafting a
new strategy that will see us to the next five years with a mindset of
driving significant growth. We are very confident that, our efforts and
commitment will result to value additions for all stakeholders,” he
added.
Red Star Express has three subsidiaries –
Red Star Freight Limited; Red Star Logistics Limited and Red Star
Support Services Limited, as well as the licensee of FedEx, world
leading air express company with over 650 aircrafts and more than 250
delivery destinations globally. FedEx has consistently been rated among
the top 10 most admired companies in the world over the past 10 years.
Josephine Okojie
No comments:
Post a Comment