LBC: Restructuring costs dent 9-mo financial results

Quick Summary:

Courier and cargo firm LBC Express Holdings Inc.said it incurred losses of P127.82 million in January to September, a reversal of last year’s income of P215.22 million.

For the third quarter alone, its income fell to P65.61 million, or about half of the previous year’s P130.91 million.

Lower manpower, rent and depreciation costs also contributed to this improvement, as part of the company’s rationalization of its brick-and-mortar stores.

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Article Details

Author / Journalist: VG Cabuag

Category: BusinessStartups

Markets: Philippines

Topics: Last Cost Holdings Income Year’s Company Billion Improvement Percent Million Express

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-18 @ 16:05:00 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 484 words

Reading Time: 3 minutes read

Sentences: 20 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 23667728

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News Last Updated: 14 hours ago

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