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Philippines courier company LBC Express is expanding rapidly on the back of rising consumer spending and e-commerce growth.
Booming last-mile deliveries helped the company increase its net core income by 117% last year, reaching P920.2m (US$17.9m).
“This was largely due to the rise in air and courier service revenues, driven by improved costs of sea and air freight,” LBC Express chief financial officer Enrique Rey told The Loadstar.
“Last-mile growth has largely been driven by the rise of e-commerce. With general trade and supply ...
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