Digital commerce helps drive LBC Express growth


Posted at May 29 2019 10:38 AM

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MANILA -- Logistics demand driven by e-commerce is helping drive growth at logistics giant LBC Express, its CFO said Wednesday.

Net income at LBC Express in 2018 grew 91 percent, while service revenues rose 25 percent.

"There's a lot more we need to do to address demand in the retail space," LBC Express CFO Enrique Rey told The Briefing on ANC's Market Edge.

Rey said LBC was "looking at doubling" branch growth in 2019. The company has close to 1,500 outlets, he said.

The cash-on-pickup service is helping customers trust digital channels, he said.