Notably the premier brand in the cargo industry, 2017 saw a healthy start for LBC. Once started as a courier company LBC EXPRESS Holdings, Inc.’s net income more than doubled last year, boosted mainly by the robust expansion of its air freight and courier services. In its annual report filed with the Philippine Stock Exchange, the logistics company said its net income for 2016 increased by 120% to P913.9 million from P416.3 million in the prior year.
LBC saw its income before tax rise 93% to P1.32 billion, surpassing its earlier tar-get from optimism over the country’s growth story.
The courier and money-transfer company also benefitted from favorable freight rates of major carriers, increased utilization of flights and efficient use of sea carriers.
LBC said its service revenues last year rose 13% primarily due to an increase in revenues from the logistics segment as both retail and corporate sales grew.
Revenues from its logistics business jumped 20% , as the company added 48 new branches. The logistics business accounted for 86.5% of LBC’s total revenues.
“This growth also resulted in an incremental increase in the company’s volumes from cargo forwarding services during the year. Price increase is also implemented at an average of 7% to 9% for Philippines, effective April, 2015, respectively, which resulted to higher price variance for the months of January to March,” LBC said.
Under its logistics business, retail — which include courier, air cargo forwarding and balikbayan box services — contributed P4.964 billion last year, up 21% from 2015’s P4.091 billion. Corporate sales, which include courier and freight forwarding and other specialized corporate logistics services, also rose 16% to P2.557 billion from P2.199 billion*
A Better Dimension of service for the OFWs in the UK
In the UK, LBC saw the steady rise in volume as consolidators have turned to depend on the reliability of the LBC transcargo facility . LBC in Europe showed healthy peak months attributed to the active postings and transfers of working migrants within Europe . Servicing as the primary hub in Europe , the UK regional office looks ahead with a bullish nature for growth with diverse promotional schemes and all around service that cater to the OFWs. LBC is also supportive with the main programme of President Duterte to liberalize balikbayan boxes under new initiatives that support the very well being of our workers abroad.
(Written by knee Charlee C. Delavin Posted in Business World On Line Appended by splash PINAS)