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Friday, September 04, 2015

RedStar Express reiterates commitment to CSR

The Chairman, RedStar Express Plc, Dr. Mohammed H. Koguna, has reiterated the company’s commitment to corporate social responsibility (CSR), ITRealms reports.

He said that 11 additional scholarships were awarded to students from different schools in the Western and Eastern Regions of Nigeria under the Red Star Foundation Scheme, adding that under the poverty alleviation arm of the Foundation, various items were given to missionary hospitals – Saint Catherine Hospital; Ahmadiyya Clinic Apapa and SOS Children Village as well as Nigerian Red Cross Society, ITRealms gathered..

Koguna was speaking at the company’s 22ndAnnual General Meeting (AGM) held in Lagos. He noted that, despite the challenging business environment, depreciation of the Naira, slides in crude oil prices resulting in reduction in government revenue, dearth of infrastructure and other macro dynamics of the economy, the company was able to not just remain in business but returned some profit.

Red Star Express  at the AGM, announced N6.7billion turnover  for the financial year ended March 31, 2015 and a profit after tax of N611million representing one percent increase in profit over 603.9 million profit for last year.

In keeping with the company’s commitment in the creation of wealth for shareholders and in appreciation of their support at all times, the company has declared dividend of 35 kobo per 50 kobo share, amounting to N206.3 million, a gesture commended by shareholders.
ITRealms reports.

Cyriacus Nnaji/GEE

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