Red Star Express Plc has recorded an 8.5 per cent increase in its group revenue for the financial year ended March 31, 2026.

The revenue increased to N23.49 billion from N22.66 billion recorded in the previous financial year.

The logistics and courier services company also reported a 16.2 per cent increase in Profit Before Tax (PBT), which rose from N924.72 million in 2025 to N1.07 billion in the year under review. Profit after tax also increased by 7.1 per cent, from N546.26 million to N585.26 million.

The figures were disclosed at the company’s 2026 Annual General Meeting (AGM) held physically and virtually.

Commenting on the performance, the Chairman of Red Star Express Plc, Suleiman Barau, said the financial year demonstrated the group’s ability to sustain growth despite the challenging business environment.

Barau said the performance indicated the company’s continued focus on growth and long-term value creation for shareholders.

He emphasised that the board had recommended a dividend of 45 kobo per ordinary share for the financial year, up from the 35 kobo paid in the previous year.

According to him, the increased dividend was in recognition of the continued support of shareholders and the company’s commitment to delivering value to them.

The recommended dividend was agreed by all the shareholders who were physically present and virtual.

He said: “The financial performance reflects the group’s ability to sustain growth in a demanding business discipline and long term value creation.

“In recognition of the continued support of our shareholders and in line with our commitment to delivering shareholders value, the board is pleased to recommend a dividend of 45 kobo per ordinary share for the financial year ended 31st march 2026, compared with 35 kobo per share in the previous year.”

Besides, he mentioned technology as a key driver of the company’s strategy for improving efficiency, integration and service delivery.

He said Red Star Express continued to strengthen its digital capabilities during the year, including investment in an Enterprise Resource Planning (ERP) system designed to enhance the integration of its operations.

Also, the Group Managing Director of Red Star Express, Auwalu Babura, attributed the improved financial performance to business expansion, technology adoption, disciplined cost management and sustained business development efforts across the group.

Babura said the initiatives had contributed to improved operational efficiency, stronger customer service and sustainable revenue growth.

He said the company had also expanded and integrated its service offerings in response to changing market needs, with a focus on creating greater value for corporate and retail customers.

He added that Red Star Express was strengthening partnerships with organisations across the country as part of efforts to expand its market reach and improve service delivery.