LBC Express Holdings Revenues Up 11%, Income Surges 57%
Pasay—(PHStocks)—Following their strong financial performance in the beginning first half of the year, LBC Express Holdings Inc. (LBCEH, PSE: LBC) now reports sustained numbers for their recent quarterly performance report submitted to the Securities and Exchange Commission (SEC) and Philippine Stock Exchange (PSE).
Evident across various key categories, LBC reports that their revenues are now up by 11%, with income surging a significant 57% for the nine month period ended September 2016 from September 2015.
For the quarter ending September 30, 2016, LBC reported PhP6.97 billion in total assets, and PhP2.2 billion in gross revenue, a 13% increase from the same period in the previous year. Moreover, the company’s net income before tax of PhP292 million represents a 95% increase from the same period last year; this translates to 57% year on year increase with PhP895 million vs. PhP571 million in the previous year. In nine months since the beginning of this year, LBC likewise improved its profits 22% with PhP2.3 billion vs. PhP1.9 billion year on year.
“LBC’s strong financial performance for the third quarter was driven by the company’s focus on expanding our portfolio of business solutions simultaneous with our push to continuously improve our express delivery service. It’s a trend that we see continuing as we move into the last quarter of the year, which is typically the industry’s peak season,” said Mike A. Camahort, Chairman of LBC Express Holdings Inc.
Compared to figures from 2015, this year sees a 25% increase in cashflow and stalwart performance of the brand’s Corporate Solutions arm, which acquired numerous key accounts on top of its existing blue chip clientele including industry leaders such as Lazada, Samsung, Suzuki, Usana, Landbank, RCBC, Golden ABC, ABS-CBN, and TV Shop.
Logistics remains the core business of LBC, contributing 87% of its revenue. Within its logistics business, retail retains the lion share however exponential growth is evident in the corporate unit. LBC’s Money business continues to perform in the domestic remittance arena.
Operational Improvements
Spurred by the momentum experienced in the beginning of the year and the company’s ability to maintain this upswing, LBC is optimistic that Q4 figures will continue to see stronger sales, lower costs and improved efficiencies.
LBC’s continued push for retail expansion lent itself to the opening of 30 new branches in 2016, with around 10 more anticipated to open before the year ends.
Additional innovations in the express delivery industry have also been introduced to support LBC’s focus on convenience and growth. Among them, the Vpouch, Kilobox Mini, and Kilobox Slim have been added as options for SKU receptacles, and service innovations have been introduced for customer convenience, on top of systems enhancements, like the revamped, GPS-enabled fleet.
The addition of LBC’s new Cavite warehouse sees 10,000 sqm dedicated to inventory monitoring and control, equipped with Radio Frequency technology for real-time capturing of movement inside the warehouse and inventory cycle count.
Moving Lives All Over the Globe
Annually, LBC services a growing customer base of about 16 million customers (taken from the 2014-2016 annual average), with 3 million balikbayan boxes processed and delivered since Janaury 2013 to August 2016.
In the Middle East, one of the fastest growing divisions of the company, LBC has collaborated with the Philippine Consulate of Dubai and the Northern Emirates and Gulf Law’s Atty. Almazar to pioneer initiatives that hope to give Filipino expats in the UAE a direct line for assistance. Dubbed the Kabayan Corner, this creates a platform that allows Filipinos to a way to send in their concerns directly to the Philippine Consul General, Paul Raymund Cortes via a drop box.
Locally, LBC Foundation sought to find ways to make an impact across the communities that it serves. Given this thrust, LBC sought to establish partnerships with key government and non-government organizations, while leveraging on their core capabilities as a business. From youth & community development, education, environment and disaster relief, LBC’s goal is to spur positive change in the lives of Filipinos—an objective that is feasible primarily because of the company’s inherent values and network.
Q4 and Beyond
As 2016 marks the company’s 66th year, LBC highlights over half a century of unparalleled presence in the country, with an ever-expanding network known for trust and reliability. To say nothing of LBC being a household name and being recognized as the standard bearer as well as market leader in express delivery, LBC now has 1,225 owned branches, 91 hubs, 13 distribution centers in the Philippines alone.
“Our ability to apply our expertise in this business, with innovative technology, and an inherent understanding of what brings joy to our customers is enabling us to continue being a benchmark in this category. LBC approaches Q4 bolstered with confidence and optimism that we will be able to meet the demands of the peak season and deliver great service to our millions of customers all over the globe,” ends Camahort.
About LBC
LBC is the Philippines’ market leader in retail and corporate courier & cargo, money remittance, and logistics services. With a growing network of over 6,400 branches, hubs & warehouses, partners, and agents in over 30 countries, LBC is committed to moving lives, businesses, and communities and delivering smiles around the world. Listed in the Philippine Stock Exchange through LBC Express Holdings, Inc., LBC aims to deliver value to all of its stakeholders, as it has for over 60 years. Founded in 1945 as a brokerage and air cargo agent, LBC pioneered time-sensitive cargo delivery and 24-hour door-to-door delivery in the Philippines. Today, it is the most trusted logistics brand of the Global Filipino. LBC can move it for you: visit www.LBCexpress.com, or call telephone +632 8585 999 (Metro Manila), 1 800 10 8585 999 (Provincial), +632 9086 522 (Solutions) and follow LBCExpress (Facebook and Twitter).