Red Star Express revenue jumps 34% to N21.6bn

By InstinctBusiness Oct 6, 2025 0

Red Star Express Plc, Nigeria’s sole licensee of FedEx Corp., reported a robust financial performance and outlined ambitious technological advancements at its 32nd Annual General Meeting (AGM).
The logistics giant, listed on the Nigerian Exchange (NGX) since 2007, reaffirmed its commitment to innovation and shareholder value, driven by a 34% revenue increase to N21.60 billion in 2025, up from N16.27 billion in 2024.

Chairman Suleiman Barau highlighted the company’s resilience amid economic challenges, noting a 71% surge in Profit Before Tax (PBT) to N924.72 million and a 59% rise in Profit After Tax (PAT) to N546.5 million.

“This performance reflects our operational discipline, improved cost management, and growing customer confidence,” Barau told shareholders. The board approved a dividend of 35 kobo per share, up from 27 kobo in 2024, paid electronically on September 18 to shareholders registered by August 26. The company’s share price, recently at N11, nears its 52-week high of N14.35.

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Group Managing Director/CEO Auwalu Badamasi Babura announced the launch of a proprietary e-logistics platform, currently in testing, designed to revolutionize Nigeria’s logistics landscape.

“This platform prioritizes speed, visibility, and customer convenience, positioning Red Star Express as a technology-driven logistics leader,” Babura said. The company also expanded its infrastructure with a new warehouse at Murtala Muhammed International Airport, Lagos, enhancing capacity for time-sensitive cargo.

With 166 offices, over 1,900 staff, and a fleet of 700 vehicles, Red Star Express serves 1,500+ communities across Nigeria.

The company’s growth aligns with a recovering transport and storage sector, which grew 6.53% in 2024, per the National Bureau of Statistics, contributing 1.03% to real GDP. Strategic improvements, including system upgrades, pricing model reviews, and enhanced warehousing, bolstered efficiency and margins.