Red Star Express Plc has reported an 8.5% increase in Group revenue to N23.49 billion for the financial year ended March 31, 2026, as the logistics company continued to expand its business and invest in technology despite rising operating costs and challenging economic conditions.
According to the company’s 2026 Annual Report and Accounts, revenue rose from N21.66 billion in 2025 to N23.49 billion, while Profit Before Tax increased 16.2% to N1.07 billion, compared with N924.72 million a year earlier.
The performance came against a backdrop of higher and fluctuating fuel prices, which continued to put pressure on transportation, distribution and last-mile delivery costs. The company said its performance was supported by business expansion, technology adoption, disciplined cost management and sustained business development efforts.
Red Star Express’ results coincided with strong growth across Nigeria’s transportation and storage industry, which was up by almost 19% in 2025
Red Star Express operations span express courier services, freight, warehousing, logistics, haulage and support services through its subsidiaries — Red Star Logistics, Red Star Freight and Red Star Support.
Technology emerged as a major pillar of Red Star Express’ strategy during the year, with the company advancing its digital transformation programme to improve efficiency and customer experience.
The company continued the development of RedSpeed, its proprietary digital logistics platform. The web platform became available to customers during the year, while a mobile application was developed for deployment through major mobile application platforms.
RedSpeed is designed to improve customer accessibility, shipment visibility and convenience, while Red Star Express also operates a cloud-based Customer Relationship Management system for managing customer requests, complaints and communication history.
The company also invested in an Enterprise Resource Planning system to strengthen process integration, data visibility and decision-making across the organisation.
The Board has recommended a 45-kobo dividend per ordinary share, up from 35 kobo per share in the previous financial year, subject to shareholder approval.
The dividend recommendation forms part of the company’s continued focus on creating value for shareholders while investing in the long-term growth of the business.
Beyond financial performance, Red Star Express reported progress across its sustainability agenda, including investment in employees, community development, environmental responsibility and responsible technology use.
The company expanded the use of solar energy across its office locations during the year as part of efforts to support more sustainable energy practices and reduce reliance on conventional power sources.
Through the Red Star Foundation, the company continued its education-focused community intervention, supporting deserving students in Government Secondary Schools within the Oshodi/Isolo Local Government Area, its host community.
Employee development also remained a priority, with training covering technical and operational skills, leadership, compliance, safety, customer service, data protection, risk management and professional development.
The company’s priorities for the coming years include accelerating digital transformation, expanding customer touchpoints through strategic partnerships, evolving its service offerings and investing further in its people and operational efficiency.
Red Star Chairman, Suleiman Barau (OON) was optimistic about the company’s future, stating that: “We expect Nigeria’s business environment to continue evolving, presenting both opportunities and challenges. Economic reforms, increasing digital adoption and changing patterns of trade and consumption will continue to shape the business landscape.”
With its nationwide network, diversified logistics businesses and continued investment in technology, Red Star Express remains focused on sustainable growth and creating long-term value for customers, employees, shareholders and other stakeholders.
Red Star Express Plc commenced operations in Nigeria in 1992 and became a publicly listed company in 2007. The company is the sole licensee of FedEx Corp. in Nigeria and provides courier, freight, logistics, warehousing, haulage and support services through its nationwide network.
It operates a nationwide network of 150 offices, serving more than 1,500 communities, with more than 1,700 employees and a fleet of over 700 vehicles.
Red Star Express remains strongly committed to its 4 P’s of Accountability – people, purpose,
performance, and progression.
