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LBC Express Holdings, Inc. recorded a net income of P119 million in the first half of 2026, down 34.4% from P181.30 million in the same period last year
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The decline was primarily attributed to higher non-operating charges, as well as higher provision for income tax – net related to reductions of deferred tax asset for the period
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Service revenue for the first half of the year grew 3% to P7.220 billion, mainly from corporate services which improved by 16%
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Revenue from the logistics segment increased 3.6% to P6.989 billion, while revenue from the money transfer services slightly dropped 0.52% to P230.904 million
LBC Express Holdings, Inc. stayed in the black in the first half of 2026, recording a net income of P119 million, although this was 34.4% down from P181.30 million in the same period last year.
The decline was primarily attributed to higher non-operating charges, as well as higher provision for income tax – net related to reductions of deferred tax asset for the period, LBCEHI said in a regulatory disclosure.
The company’s service revenue for the first half of the year grew 3% to P7.220 billion from P6.978 billion last year, mainly from corporate services which improved by 16%.
LBC also implemented sales adjustments and temporary surcharges in the second quarter relative to the geopolitical uncertainty and tensions in the Middle East.
Revenue from the logistics segment, which accounted for a big chunk of the total, increased 3.6% to P6.989 billion, while revenue from the money transfer services slightly dropped 0.52% to P230.904 million.
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Cost of services during the first half increased 4% to P5.576 billion from P5.345 billion, primarily related to increase in cost of delivery by 12% driven by increasing energy prices, war risk premiums, freight rate spikes and congestion surcharges. Moreover, LBC said there were also mandatory wage orders implemented which resulted in higher contracted services by 17%.
These increases were countered by lower facilities cost and depreciation cost by 10% which is a factor of consolidation of facilities and rationalization of branches since last year.
The company provides courier and freight forwarding services in 25 countries and territories outside of the Philippines, and fulfillment services for inbound remittances originating from over 29 countries and territories, including the United States, Canada, the Asia Pacific region, Europe and the Middle East.
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