LBC Express Q3 income jumps on logistics revenue growth – BusinessWorld Online
LBC EXPRESS HOLDINGS, Inc. saw its third-quarter (Q3) attributable net income rise more than eightfold to P527.65 million, driven by growth in its logistics revenue.
For the three months ending September, LBC Express recorded total revenue of P3.49 billion, up 1.16% from P3.45 billion in the same period a year ago, while gross expenses rose 1.52% to P3.34 billion from P3.29 billion previously.
The company also returned to profitability for the nine months ending September, logging an attributable net income of P699.78 million, reversing a net loss of P127.82 million a year earlier. Gross revenue for the period declined slightly by 1.03% to P10.47 billion from P10.58 billion in 2024, while total expenses fell 1.68% to P9.92 billion from P10.09 billion.
By segment, logistics posted revenue of P10.13 billion, while money transfer services contributed P346.37 million. Retail customers accounted for the bulk of revenue at P7.23 billion, with corporate clients generating P3.25 billion.
On a geographic basis, domestic operations made up P6.33 billion of sales, while overseas markets contributed P4.04 billion.
LBC Express is a publicly listed holding company with two main business segments: logistics, serving both retail and corporate clients, and money transfer services, covering domestic and international remittances.
Shares of LBC Express closed unchanged at P6.92 apiece on Thursday at the local bourse. — Ashley Erika O. Jose
