Red Star Express Plc (NGX:REDSTAREX)

Red Star Express Income Statement

Financials in millions NGN. Fiscal year is April - March.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021
Revenue	23,426	21,660	16,128	13,875	12,599	9,458
Revenue Growth (YoY)	16.14%	34.30%	16.24%	10.13%	33.21%	-10.34%
Cost of Revenue	17,786	16,707	12,493	10,711	10,241	7,682
Gross Profit	5,640	4,953	3,635	3,163	2,358	1,776
Selling, General & Admin	4,154	3,844	2,739	2,254	1,661	1,178
Amortization of Goodwill & Intangibles	24.01	24.01	22.23	27.54	35.57	40.68
Other Operating Expenses	-439.31	-439.31	-60.88	-36.46	-122.5	-27.2
Operating Expenses	4,346	3,943	2,964	2,516	1,872	1,539
Operating Income	1,294	1,010	671.31	647.79	485.75	236.11
Interest Expense	-34.66	-59.22	-58.37	-15.01	-56.65	-40.89
Interest & Investment Income	83	6.91	1.48	0.51	5.27	12.63
Currency Exchange Gain (Loss)	32.66	14.18	20.82	-28.69	-14.37	31
Other Non Operating Income (Expenses)	8.99	-46.89	-93.93	-37.41	-36.63	-39.56
EBT Excluding Unusual Items	1,384	924.52	541.32	567.19	383.38	199.29
Gain (Loss) on Sale of Assets	-	-	-	17.74	8.78	16.69
Legal Settlements	-	-	-	-	-	-5.73
Other Unusual Items	0.2	0.2	0.83	8.49	21.7	10.54
Pretax Income	1,384	924.72	542.15	593.42	413.86	220.79
Income Tax Expense	510.12	378.19	199.14	279.52	326.05	70.73
Net Income	874.1	546.52	343	313.9	87.81	150.07
Net Income to Common	874.1	546.52	343	313.9	87.81	150.07
Net Income Growth	87.62%	59.33%	9.27%	257.49%	-41.49%	-68.00%
Shares Outstanding (Basic)	954	954	954	954	954	954
Shares Outstanding (Diluted)	954	954	954	954	954	954
Shares Change (YoY)	-	-	-	-	-	37.79%
EPS (Basic)	0.92	0.57	0.36	0.33	0.09	0.16
EPS (Diluted)	0.92	0.57	0.36	0.33	0.09	0.16
EPS Growth	87.62%	59.33%	9.27%	257.49%	-41.49%	-76.78%
Free Cash Flow	702.09	600.64	712.53	78.62	-27.91	-772.51
Free Cash Flow Per Share	0.74	0.63	0.75	0.08	-0.03	-0.81
Dividend Per Share	-	0.350	0.270	0.200	0.075	0.049
Dividend Growth	-	29.63%	35.00%	166.67%	54.64%	-85.72%
Gross Margin	24.07%	22.87%	22.54%	22.80%	18.71%	18.77%
Operating Margin	5.52%	4.66%	4.16%	4.67%	3.86%	2.50%
Profit Margin	3.73%	2.52%	2.13%	2.26%	0.70%	1.59%
Free Cash Flow Margin	3.00%	2.77%	4.42%	0.57%	-0.22%	-8.17%
EBITDA	1,628	1,474	1,159	1,151	939.62	628.27
EBITDA Margin	6.95%	6.81%	7.19%	8.30%	7.46%	6.64%
D&A For EBITDA	333.97	464.75	487.82	503.22	453.87	392.17
EBIT	1,294	1,010	671.31	647.79	485.75	236.11
EBIT Margin	5.52%	4.66%	4.16%	4.67%	3.86%	2.50%
Effective Tax Rate	36.85%	40.90%	36.73%	47.10%	78.78%	32.03%
Advertising Expenses	-	99.84	47.18	53.93	43.34	38.27

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.