RedStar Express AGM

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Dr. Mohammed Koguna, Chairman, RedStar Express Plc , Managing Director Sule Bichi, Director, Olayemi Peters and the Executive Director, Muyiwa Olumekun at the 17th AGM in Lagos.

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Dr. Mohammed Koguna, Chairman RedStar Express Plc, and the Managing Director Sule Bichi at the 17th AGM in Lagos.

RedStar Express Plc Company Secretary, Frances Akpomuka and the Chairman Dr. Mohammed Koguna at the 17th AGM in Lagos

(L-R)

RedStar Express Plc Company Secretary, Frances Akpomuka, Chairman Dr. Mohammed Koguna and the Managing Director Sule Bichi at the 17th AGM in Lagos.

REDSTAR EXPRESS POSTS N177.4 MILION DIVIDENDS

Red Star Express PLC, a foremost leading indigenous courier and cargo company, has posted N177.4 million dividends for its shareholders at the end of its 2009/2010 business year.

The company’s chairman, Dr Mohammed H. Koguna stated this at the company’s 17^th Annual General Meeting (AGM) held on Monday in Lagos.

Speaking on its performance and business operations, Dr. Koguna said the courier company which is positioning itself as a one-stop integrated logistics solutions shop has performed well in the last business year, weathered the storm of global economic meltdown and posted a modest growth in revenue and profit before tax.

According to him, the challenging environment did not deter RSE from taking bold steps to boost operations and ensure quality delivery to its clientele. Instead, it has launched a new courier operations computer software called “Smart Courier” amongst other innovative measures to reinforce its existing facilities. The software was constructed and deployed to serve customers through the three Redstar subsidiaries-Redstar Logistics, Redstar freight and Redstar support services.

Dr. Koguna noted that despite the challenges of infrastructure, insecurity, power and credit crunch, Redstar Express recorded a 6% per cent growth in revenue moving from N3.96billion in 2008/2009 to N4.14billion in 2009/2010 while its profit before tax grew by 3% moving from N459.77million to N473.61million.

Commenting on its business outlook, RedStar Managing Director, Sule Umar Bichi said the company is strongly poised to fulfil service commitments to its customers and deliver both on local and international scale at all times.

He added that the company has adopted a strategy of expansion to a global vision. This will be cemented with the use of modern technology and engagement of highly skilled and well-motivated workforce. These, he said, will propel the company’s immediate and future growth.

On its social responsibility as a company, Bichi stated that RSE is committed to improving the lots of communities where it operates. “We will continue to forge ahead on the Redstar Annual scholarship championed by the RedStar Foundation and will support indigent students to secure their future. The company has set aside a sum to be expended on this important area.”

The RedStar boss reiterated that the company is always strategizing to keep the winds of advancement and quality services to customers blowing and was strengthening all existing products through improvement of service standards with a network efficiently wired to serve customers better, and optimize asset utilization. Redstar Express is committed to offering a-stop shop service in logistics and supply chain management.

Red Star Express PLC has grown to become one of the top three courier companies in Nigeria in terms of revenue, network coverage and market share in the domestic and international market. It enjoys a domestic strength of 169 offices in Nigeria, deliveries to additional 1,500 communities, over 1200 highly trained personnel and over 500 vehicular fleet. It prides itself of automatic proof of delivery and advanced technology with all operations done online and real-time.

WINNERS EMERGE IN REDSTAR EXPRESS SHIP AND WIN PROMO

Winners have emerged in the RedStar Express Ship and Win Promo which ran between October and December 2008, 

the promo which was targeted at rewarding customers for their loyalty and patronage during the last year. 

The promo ran in all thirty six states of the federation including Abuja, after which eight customers emerged for the final draw. 

The final draw which took place on Thursday in Lagos had Mr. Femi Sanumi of Mauve Corporate Services as star prize winner 

of an all-expense paid trip to Dubai, United Arab Emirate. Christ Chosen Church Benin City Edo State 

grabbed the second prize of huge Haier Thermocool Refrigerator while Poghan Walter Odutoge Limited smiled home with a Gas Cooker.  

Speaking at the draw, Mr Sule Umar Bichi, Managing Director RedStar Express Plc said, “we are a responsible and 

promise fulfilling company; we fulfil our promises. The promo was designed to give back to the loyal customers for 

their patronage and keeping faith with the RedStar brand since we started operation about sixteen years ago in Nigeria.”

Mr. Bichi further revealed that the company was happy for all the winners and believed strongly that all the items will 

add value to their lives. He stated that the company will continue to add value to the customers considering their 

strategic importance to the development of the organisation.

Sanumi, speaking on behalf of all the winners, commended the company for the raffle draw and said 

“they were happy with the gift and would continue to patronize RedStar Express.’’

Other winners were College of Medicine Idi- Araba Lagos which got the fourth prize of Home Theatre sound system 

and the West Africa Examination Council which carted away the fifth prize of a flatron Television set alongside others with consolation prizes.

The RedStar boss further concluded with the company’s commitments to offering professional and superb delivery 

services ranging from courier services to freight forwarding, all to satisfy customers via its strategic partnership with FedEx.

Red Star Express was established to be the best service-driven logistics solution provider. The company which has offices across the nation also provides transportation, warehousing and other supply chain management services that are secure and effective through developing and retaining a well motivated, team-oriented workforce that shares common ideals and values. The company is also structured to evolve and market a range of technology-driven services designed to meet the diverse needs of customers

Red Star Express is a licensee of FedEx, the world leading air express company with over 650 aircrafts and more than 250 delivery destinations worldwide. FedEx has consistently been rated among the top 10 most admired companies in the world since the past 10 years.