LBC Express Holdings, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2018
May 15, 2018 at 07:29 pm EDT
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LBC Express Holdings, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported service revenue of PHP 2,750,700,536 against PHP 2,458,185,460 a year ago. Income before income tax was PHP 699,586,039 against PHP 328,030,415 a year ago. Net income attributable to shareholders of the parent company was PHP 559,769,644 against PHP 229,491,376 a year ago. Earnings per share diluted were PHP 0.28 against PHP 0.16 a year ago. Net cash provided by operating activities was PHP 483,835,577 against PHP 88,443,987 a year ago. Acquisitions of property and equipment were PHP 100,648,129 against PHP 71,900,912 a year ago. Additions to intangible assets were PHP 30,700,480 against PHP 4,140,440 a year ago. Book value per share as at March 31, 2018 was PHP 2.04.
LBC Express Holdings, Inc. is a Philippines-based holding company. The Company is engaged in retail and corporate courier and cargo, money remittance, and logistics services. Its segments include logistics and money transfer services. The main services offered under its logistics business are domestic and international courier and freight forwarding services (by way of air, sea, and ground transport). Its logistics products are geared toward both retail and corporate clients. The money transfer services segment consists of remittance services (including branch retail services, prepaid remittance cards and online and mobile remit) and bill payment collection and corporate remittance payout services. The money transfer services segment includes an international presence through its branches, which comprises international inbound remittance services. The Company has a network of over 6,400 branches, hubs and warehouses, partners, and agents in approximately 30 countries.