LBC Express Holdings, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018
August 14, 2018 at 07:57 pm EDT
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LBC Express Holdings, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported service revenues of PHP 3,033,374,701 against PHP 2,451,457,976 a year ago. Net income before tax was PHP 765,574,390 against PHP 306,250,882 a year ago. Net income attributable to parent equity holder was PHP 619,314,414 or 0.25 per diluted share against PHP 212,258,683 or 0.15 per basic and diluted share a year ago.
For the six months, the company reported service revenues of PHP 5,782,753,922 against PHP 4,909,643,436 a year ago. Net income before tax was PHP 1,474,429,102 against PHP 634,281,296 a year ago. Net income attributable to parent equity holder was PHP 1,185,825,717 or 0.53 per diluted share against PHP 441,750,057 or 0.31 per basic and diluted share a year ago. Net cash provided by operating activities was PHP 763,530,910 compared to PHP 530,570,107 a year ago. Acquisitions of intangible assets were PHP 36,704,123 compared to PHP 7,838,471 a year ago. Acquisitions of property and equipment were PHP 178,716,770 compared to PHP 140,976,436 a year ago.
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.