LBC EXPRESS Holdings Corp. has been authorized by its board to act as continuing surety for the P1.11-billion obligations of subsidiary LBC Express, Inc. under credit facilities extended by BDO Unibank, Inc.
In a regulatory filing, the listed company stated that its board approved the authority for LBC Express Holdings to serve as continuing surety for all obligations of LBC Express arising from its credit facilities, including increases, over-availments, renewals, extensions, and restructurings of the credit accommodations.
The authority to act as surety will be a continuing one and will subsist and bind the Corporation until all such obligations of LBC Express, Inc. shall have been fully paid and satisfied.
LBC Express Holdings is the listed parent company of LBC Express, which provides logistics, retail, and money remittance services.
For the first quarter, the company posted an attributable net income of P45.23 million, down 67.79% from P140.44 million a year earlier, due to lower revenue.
For full-year 2025, LBC Express is expected to post an attributable net income of P246.06 million, reversing the loss it incurred in 2024.
LBC Express Holdings operates through two primary business segments: logistics and money transfer services.
The logistics segment serves retail and corporate customers, while the money transfer segment covers domestic and international remittance services.
Shares in LBC Express Holdings rose P1.21, or 19.87%, to close at P7.30 each on Monday.
