LBC Express to open 80 branches this year

MANILA — Logistics company LBC Express Holdings Inc. targets to spend up to PHP100 million this year for 80 to 100 more branches across the country, as it further expands its footprint.

LBC Express President and Chief Executive Officer Miguel Angel Camahort said the total number of wholly-owned branches reached 1,321 by the end of 2017.

“This branch expansion continues to provide volume growth while also extending the branch’s reach and footprint,” he said during the company’s stockholders’ meeting on Monday.

Company Chief Finance Officer Enrique Rey Jr. said they already established 46 branches so far this year.

Rey said the firm usually spends about PHP700,000 to PHP1 million for the establishment of a branch.

Revenue from Philippine retail branches increased 12 percent in 2017, contributing a total of PHP645 million to total revenues of the company.

Logistics revenues continue to make up the lion share in the company’s coffers, with 87 percent contribution at PHP9 billion last year, up by 19 percent from the previous year.

Retail logistics grew 16 percent to PHP5.8 billion, while corporate logistics rose 26 percent to PHP3.2 billion. (Leslie Gatpolintan/PNA)

Popular

LTO integrates online driver’s license renewal system in eGovPH app

By Dean Aubrey Caratiquet The Land Transportation Office (LTO) has integrated the online driver’s license renewal in the eGovPH app, which ensures a fast and...

5 of 21 Filipinos in Houthi-hit ship in Red Sea rescued — DFA

By Joyce Ann L. Rocamora and Marita Moaje | Philippine News Agency Five of the 21 Filipino seafarers manning the cargo vessel Eternity C, which...

PBBM directs gov’t officials: Focus on work, avoid politicking

By Dean Aubrey Caratiquet At the Malacañang press briefing this Wednesday, July 9, Presidential Communications Office (PCO) Undersecretary and Palace Press officer Claire Castro reiterated...

Nearly 12K cops to secure SONA — PNP

By Christopher Lloyd Caliwan | Philippine News Agency The Philippine National Police (PNP) on Tuesday said almost 12,000 police officers will be deployed to provide...