Red Star Express

[halfbread]

Originally Posted by londoncool

They should be able to pay the 0.30k dividends.

wecome back londoncool, u no dey play with dividend o, this issue make u to show face today. ok i forget say na u and Catweasel get the Lion share of this company.

[Salida]

REDSTAREX grows PAT by 19.1% in Q3 2011 result.

[Salida]

Red Star Express changed its Registrars from Intercontinental Registrars Ltd to United Securities Ltd


March 13, 2012

The Company has notified The Exchange that following the takeover of Intercontinental Bank Plc. and its subsidiaries by Access Bank, the Board of Access Bank Plc. has decided to divest from Intercontinental Registrar Limited, who until this notification were Registrars to Red Star Express Plc.

To this end, the Board of Red Star Express Plc. has changed its Registrars from Intercontinental Registrars Limited to United Securities Limited.

[bivins1]

Originally Posted by Salida

Red Star Express changed its Registrars from Intercontinental Registrars Ltd to United Securities Ltd


March 13, 2012

The Company has notified The Exchange that following the takeover of Intercontinental Bank Plc. and its subsidiaries by Access Bank, the Board of Access Bank Plc. has decided to divest from Intercontinental Registrar Limited, who until this notification were Registrars to Red Star Express Plc.

To this end, the Board of Red Star Express Plc. has changed its Registrars from Intercontinental Registrars Limited to United Securities Limited.

I hope they wont expect us to fill new e dividends forms for USL .

[Salida]

Red Star sees 37% reduction in second quarter turnover

[Salida]

?How Red Star Express Has Survived The Odds For 20 Years?

[Dicobody]

http://www.nse.com.ng/Financial%20Ne...2unaudited.pdf

[anekwlc]

Originally Posted by Dicobody

http://www.nse.com.ng/Financial%20Ne...2unaudited.pdf

Can someone please help explain this. I though we are expecting FY result of this company

[omowilly]

RED STAR EXPRESS PLC

July 2, 2012

Audited Results (March, 2012)

Profit and Loss Information
Turnover 31-03-12 N5.030b 31-03-11 N4.208b
Operational Cost 12 (N3.380b) 11 (N2.794b)
Gross Profit 12 N1.649b 11 N1.414b
Admin Expenses 12 (N1.059b) 11 (N1.414b)
Other Income 12 N44.512m 11 N55.268m
Operating Profit 12 N634.741m 11 N409.301m
Interest Received 12 N5.771m 11 N2.752m
Provision for Diminution in Investment 12 (N296,000) 11 (N752,000)
Profit before Tax 12 N640.216m 11 N411.301m
Taxation 12 (N313.143m) 11 (N77.707m)
Profit after Tax 12 N327.073m 11 N333.594m
Earning per Share (kobo) 12 55k 11 57k

Balance Sheet Information

Fixed Assets 31-03-12 N672.971m 31-03-11 N739.217m
Long term Investments 12 N171.917m 11 N155.723
Stocks 12 N50.435m 11 N46.149m
Trade Debtors 12 N1.351b 11 N1.204b
Cash and Bank Balances 12 N365.270m 11 N166.771m
Other Debit Balances 12 N531.631m 11 N458.269m
Trade Creditors 12 N175.217m 11 N161.563m
Taxation 12 N312.270m 11 N237.752m
Provision 12 N357.734m 11 N340.884m
Deferred Taxation 12 N24.995m 11 N55.430m
Other Credit Balances 12 N682.626m 11 N534.428m
Working Capital 12 N1.127b 11 N940.305m
Net Assets 12 N1.591b 11 N1.440b

Corporate Actions

Proposed Dividend
30 kobo
Proposed Bonus
Qualification Date
Nil
August 09th, 2012
Closure Date
August 10th – 16th, 2012
AGM Date
To be Communicated later
Payment Date
14th September, 2012
AGM Venue
AUGUST 30TH, 2012

[nosa2]

Originally Posted by omowilly

RED STAR EXPRESS PLC

July 2, 2012

Audited Results (March, 2012)

Profit and Loss Information
Turnover 31-03-12 N5.030b 31-03-11 N4.208b
Operational Cost 12 (N3.380b) 11 (N2.794b)
Gross Profit 12 N1.649b 11 N1.414b
Admin Expenses 12 (N1.059b) 11 (N1.414b)
Other Income 12 N44.512m 11 N55.268m
Operating Profit 12 N634.741m 11 N409.301m
Interest Received 12 N5.771m 11 N2.752m
Provision for Diminution in Investment 12 (N296,000) 11 (N752,000)
Profit before Tax 12 N640.216m 11 N411.301m
Taxation 12 (N313.143m) 11 (N77.707m)
Profit after Tax 12 N327.073m 11 N333.594m
Earning per Share (kobo) 12 55k 11 57k

Balance Sheet Information

Fixed Assets 31-03-12 N672.971m 31-03-11 N739.217m
Long term Investments 12 N171.917m 11 N155.723
Stocks 12 N50.435m 11 N46.149m
Trade Debtors 12 N1.351b 11 N1.204b
Cash and Bank Balances 12 N365.270m 11 N166.771m
Other Debit Balances 12 N531.631m 11 N458.269m
Trade Creditors 12 N175.217m 11 N161.563m
Taxation 12 N312.270m 11 N237.752m
Provision 12 N357.734m 11 N340.884m
Deferred Taxation 12 N24.995m 11 N55.430m
Other Credit Balances 12 N682.626m 11 N534.428m
Working Capital 12 N1.127b 11 N940.305m
Net Assets 12 N1.591b 11 N1.440b

Corporate Actions

Proposed Dividend
30 kobo
Proposed Bonus
Qualification Date
Nil
August 09th, 2012
Closure Date
August 10th – 16th, 2012
AGM Date
To be Communicated later
Payment Date
14th September, 2012
AGM Venue
AUGUST 30TH, 2012

This is probably one of the most consistently undervalued companies on this exchange.

[Nelsonekos]

Originally Posted by omowilly

RED STAR EXPRESS PLC

July 2, 2012

Audited Results (March, 2012)

Profit and Loss Information
Turnover 31-03-12 N5.030b 31-03-11 N4.208b
Operational Cost 12 (N3.380b) 11 (N2.794b)
Gross Profit 12 N1.649b 11 N1.414b
Admin Expenses 12 (N1.059b) 11 (N1.414b)
Other Income 12 N44.512m 11 N55.268m
Operating Profit 12 N634.741m 11 N409.301m
Interest Received 12 N5.771m 11 N2.752m
Provision for Diminution in Investment 12 (N296,000) 11 (N752,000)
Profit before Tax 12 N640.216m 11 N411.301m
Taxation 12 (N313.143m) 11 (N77.707m)
Profit after Tax 12 N327.073m 11 N333.594m
Earning per Share (kobo) 12 55k 11 57k

Balance Sheet Information

Fixed Assets 31-03-12 N672.971m 31-03-11 N739.217m
Long term Investments 12 N171.917m 11 N155.723
Stocks 12 N50.435m 11 N46.149m
Trade Debtors 12 N1.351b 11 N1.204b
Cash and Bank Balances 12 N365.270m 11 N166.771m
Other Debit Balances 12 N531.631m 11 N458.269m
Trade Creditors 12 N175.217m 11 N161.563m
Taxation 12 N312.270m 11 N237.752m
Provision 12 N357.734m 11 N340.884m
Deferred Taxation 12 N24.995m 11 N55.430m
Other Credit Balances 12 N682.626m 11 N534.428m
Working Capital 12 N1.127b 11 N940.305m
Net Assets 12 N1.591b 11 N1.440b

Corporate Actions

Proposed Dividend
30 kobo
Proposed Bonus
Qualification Date
Nil
August 09th, 2012
Closure Date
August 10th – 16th, 2012
AGM Date
To be Communicated later
Payment Date
14th September, 2012
AGM Venue
AUGUST 30TH, 2012

Great dividend policy. Still do not understand this coy's tax policy.
And admin expenses is 64% of the Gross profit... how much do the senior executives earn???

[wanaj0]

Originally Posted by nosa2

This is probably one of the most consistently undervalued companies on this exchange.

Why do you consider it undervalued?

Have you considered the impact of liquidity?

The trade debtor is a cause for concern.

Another dividend in the bank.

[dr.abrahamb]

Originally Posted by omowilly

RED STAR EXPRESS PLC

July 2, 2012

Audited Results (March, 2012)

Profit and Loss Information
Turnover 31-03-12 N5.030b 31-03-11 N4.208b
Operational Cost 12 (N3.380b) 11 (N2.794b)
Gross Profit 12 N1.649b 11 N1.414b
Admin Expenses 12 (N1.059b) 11 (N1.414b)
Other Income 12 N44.512m 11 N55.268m
Operating Profit 12 N634.741m 11 N409.301m
Interest Received 12 N5.771m 11 N2.752m
Provision for Diminution in Investment 12 (N296,000) 11 (N752,000)
Profit before Tax 12 N640.216m 11 N411.301m
Taxation 12 (N313.143m) 11 (N77.707m)
Profit after Tax 12 N327.073m 11 N333.594m
Earning per Share (kobo) 12 55k 11 57k

Balance Sheet Information

Fixed Assets 31-03-12 N672.971m 31-03-11 N739.217m
Long term Investments 12 N171.917m 11 N155.723
Stocks 12 N50.435m 11 N46.149m
Trade Debtors 12 N1.351b 11 N1.204b
Cash and Bank Balances 12 N365.270m 11 N166.771m
Other Debit Balances 12 N531.631m 11 N458.269m
Trade Creditors 12 N175.217m 11 N161.563m
Taxation 12 N312.270m 11 N237.752m
Provision 12 N357.734m 11 N340.884m
Deferred Taxation 12 N24.995m 11 N55.430m
Other Credit Balances 12 N682.626m 11 N534.428m
Working Capital 12 N1.127b 11 N940.305m
Net Assets 12 N1.591b 11 N1.440b

Corporate Actions

Proposed Dividend
30 kobo
Proposed Bonus
Qualification Date
Nil
August 09th, 2012
Closure Date
August 10th – 16th, 2012
AGM Date
To be Communicated later
Payment Date
14th September, 2012
AGM Venue
AUGUST 30TH, 2012

Even in hard times, these guys paid out to shareholders(almost) their entire operational cash; less depreciation. I wondered why they would do something like that(akin to nestle) until I saw their working capital.

[emmanuel ewumi]

Originally Posted by omowilly

RED STAR EXPRESS PLC

July 2, 2012

Audited Results (March, 2012)

Profit and Loss Information
Turnover 31-03-12 N5.030b 31-03-11 N4.208b
Operational Cost 12 (N3.380b) 11 (N2.794b)
Gross Profit 12 N1.649b 11 N1.414b
Admin Expenses 12 (N1.059b) 11 (N1.414b)
Other Income 12 N44.512m 11 N55.268m
Operating Profit 12 N634.741m 11 N409.301m
Interest Received 12 N5.771m 11 N2.752m
Provision for Diminution in Investment 12 (N296,000) 11 (N752,000)
Profit before Tax 12 N640.216m 11 N411.301m
Taxation 12 (N313.143m) 11 (N77.707m)
Profit after Tax 12 N327.073m 11 N333.594m
Earning per Share (kobo) 12 55k 11 57k

Balance Sheet Information

Fixed Assets 31-03-12 N672.971m 31-03-11 N739.217m
Long term Investments 12 N171.917m 11 N155.723
Stocks 12 N50.435m 11 N46.149m
Trade Debtors 12 N1.351b 11 N1.204b
Cash and Bank Balances 12 N365.270m 11 N166.771m
Other Debit Balances 12 N531.631m 11 N458.269m
Trade Creditors 12 N175.217m 11 N161.563m
Taxation 12 N312.270m 11 N237.752m
Provision 12 N357.734m 11 N340.884m
Deferred Taxation 12 N24.995m 11 N55.430m
Other Credit Balances 12 N682.626m 11 N534.428m
Working Capital 12 N1.127b 11 N940.305m
Net Assets 12 N1.591b 11 N1.440b

Corporate Actions

Proposed Dividend
30 kobo
Proposed Bonus
Qualification Date
Nil
August 09th, 2012
Closure Date
August 10th – 16th, 2012
AGM Date
To be Communicated later
Payment Date
14th September, 2012
AGM Venue
AUGUST 30TH, 2012

When will the company pay us more than 30k. They have always paid a dividend of 30k, since the company was listed.

[duduspace]

Originally Posted by emmanuel ewumi

When will the company pay us more than 30k. They have always paid a dividend of 30k, since the company was listed.

Oga Emma, please don't tempt fate o. some people paid a lot more in the past but can't pay anything now.

[Salida]

Red Star Express decries rising energy cost, deplorable infrastructure

[emmanuel ewumi]

Originally Posted by Salida

Red Star Express decries rising energy cost, deplorable infrastructure

Energy cost will soon crash.

[pal]

Originally Posted by emmanuel ewumi

Energy cost will soon crash.

Amen and A-a-men

[wanaj0]

Anyone received the dividend? Payment was to be today.

[emmanuel ewumi]

Originally Posted by wanaj0

Anyone received the dividend? Payment was to be today.

I have not received my alert. I will go to my bank to confirm first thing tomorrow morning. If i don't get the alert by 21st September 2012, i will have to visit the company's secretary.