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Logistics giant LBC Express Holdings saw a big boost in profit last year on the back of a nonrecurring gain and as business activity picked up. LBC, in its 2018 annual report, said net income almost doubled to P1.35 billion versus about P708 million in 201LBC ’18 income almost doubled to P1.35B
Logistics giant LBC Express Holdings saw a big boost in profit last year on the back of a nonrecurring gain and as business activity picked up. LBC, in its 2018 annual report, said net income almost doubled to P1.35 billion versus about P708 million in 2017. LBC said profitability rose alongside volume. Moreover, it recognized a gain on derivative amounting to P454.2 million, a consequence of fluctuating share prices linked to a convertible instrument issued in 2017. Overall, its core logistics business remained healthy with service revenues up 25 percent to P12.5 billion last year. LBC noted that during this period, both retail and corporate segments rose 25 percent and 3...Keep on reading: LBC ’18 income almost doubled to P1.35B Read more