This archive report was first published on 3 September 2019.
On June 30, 2019, Express Limited released its half-year results, marking a significant shift in the company's focus from logistics to real estate.
As part of this transition, the company plans to discontinue its primary business of providing clearing and forwarding services for air and sea, warehousing, and logistics services.
According to the results, the company's revenues declined by 23 percent to KSh10.786 million compared to KSh14.022 million reported in the first half of 2018.
Direct costs decreased by 39 percent to KSh8.531m, while administrative expenses reduced by 33.44% from Ksh 17.3 million to Ksh 11.5 million.
The company reported a net loss of Ksh7.2 million, a 68 percent reduction from the previous first half-year of 2018, which reported a pretax loss of KSh22.5 million.
