LBC Q3 profit jumps 38%

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    LBC Express Holdings Inc. recorded a 38-percent increase in profit in the third quarter to P442.38 million from P321.07 million last year.

    Revenues reached P3.99 billion, up 6 percent from last year’s P3.76 billion, largely driven by a 33-percent increase in retail logistics sales.

    LBC said its branch operations were diminished during the various quarantine level scenarios, and delivery turnaround times were extended in consideration of safety and security protocols, and travel restrictions.

    LBC said it expects to open 100 new branches within the year.