Red Star Express Plc said it recorded a turnover of N9.46bn for the financial year ended March 31, 2021.

In a statement made available to our correspondent on Monday, the company also said it recorded a profit before tax of N220.79m and a total of N150.07m as profit after tax.

The logistics firm said it grew its balance sheet size by N211m with total assets and shareholders’ funds closing at N7.5bn in the year under review, from N7.3bn in the previous year, representing a 2.9 per cent growth.

In the statement titled ‘Red Star reports N9.46bn turnover at 2021 AGM,’ the Chairman, Red Star Express, Alhaji Suleiman Barau, was quoted as saying during the company’s 28th annual general meeting that the shareholders ‘voted that five kobo for every 50 kobo ordinary be distributed to stakeholders as dividend and that N8m be given as director’s remuneration’, and urged the company to pay up the dividend as soon as possible rather than wait for seven days.

The company also introduced its new non-executive directors, Mr Peter Aletor and Chukwuemeka Ndu, to the shareholders.