By Hamisu B. S
Red Star Express profit after tax up by 34.15%
Red star express has released its result for the financial year ending March 31. 2019, the company recorded significant improvement in all the key performance indicators.
Revenue has increased from N8.4 billion in financial year 2018 to N10 billion in financial year 2019 or an increase of 19.73%. Profit before tax increased from N610.5 million in 2018 to N743.4 million in 2019. The profit after tax increase from N347 million in 2018 to 466 million in 2019 representing 34.15% increase.
The company has proposed a dividend of N253 million to the shareholders for the financial year ended March 2019. This will translate to 43 kobo per share.
Qualification date for the dividend is July 16. 2019, AGM will be held on August 8. 2019, while dividend will be paid on August 15. 2019.
