Red Star Express Plc has recorded a 16.2 per cent increase in Profit Before Tax (PBT), rising from N924.72 million in 2025 to N1.07 billion for the financial year ended March 31, 2026.

Profit after tax also increased by 7.1 per cent, from N546.26 million to N585.26 million.

The logistics and courier services company also reported an 8.5 per cent increase in its group revenue for the financial year under review.

Revenue rose to N23.49 billion from N22.66 billion in the previous financial year.

The company disclosed the figures at its 2026 Annual General Meeting (AGM), held over the weekend in person and virtually.

The company’s Chairman, Suleiman Barau, said the financial year showed the group’s ability to sustain growth despite a challenging business environment.

According to him, the performance indicated the company’s continued focus on growth and long-term value creation for shareholders.

Barau 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.

He explained that the increased dividend recognised shareholders’ continued support and the company’s commitment to delivering value.

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

In his speech, 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.