Defining the News
: LBC Express Holdings, Inc., the Philippines’ largest logistics and money services company remains relentless in its commitment to serve the nation, and Filipinos all over the world. LBC continues to adapt and adjust its capacities and services and remains optimistic, moving forward into its 75year of operations in 2025. Present in 30 countries, LBC continues to serve Filipinos with its reliable logistics and money services.
The Company recently submitted its unaudited results to the SEC / PSE: For the first half of 2024, operating income increased by 14% to ₱331.10 million for the six months ended June 30, 2024, compared to ₱290.94 million for the same period in 2023, due to an increase in gross profit. Gross profit improved by 3% to ₱1,538.84 million for the six months ended June 30, 2024, from ₱1,497.73 million for same period in 2023, predominantly due to improved efficiencies and cost rationalization.
The Company’s service revenues decreased by 3% to ₱7,132.29 million for the six months period ended 2024, from ₱7,372.68 million for the same period ended 2023, due to a decrease in the retail segment by 7%. However, this is stabilized by the growth in revenue from the Company’s corporate segment by 11%.
LBC is well known for pioneering some of the most innovative courier and logistics solutions introduced in the local market that continuously improve its services, drive operational efficiency, reduce internal costs, and open new revenue streams.
“It has been another challenging year, operationally, and issues beyond our control such as the global supply chain, and global logistics cost hikes have proven to be testing our resiliency,” said Enrique V. Rey, Jr., Chief Financial Officer of LBC Express Holdings, Inc. He added, “but we focused on controlling what we can, and we are relentless in pursuing our targets, and are committed to moving our nation, and the millions of Filipinos across the globe.
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