Shareholders See Equity Dip as Trans-Nationwide Express Reports Losses

Trans-Nationwide Express Plc has released its unaudited financial statement for the second quarter ended June 30, 2025, revealing a challenging period marked by declining revenues and deepening losses. The logistics and courier company posted a revenue of ₦96.23 million for the half-year, down from ₦133.25 million in the same period of 2024.

This decline was mirrored in its bottom line, with a net loss of ₦58.02 million compared to a ₦54.29 million loss recorded in the previous year. The company attributed the downturn to rising administrative expenses, which surged to ₦126.19 million, and a drop in other income, which fell sharply from ₦10.99 million to just ₦1.52 million.

Despite the financial strain, Trans-Nationwide Express maintained its asset base, reporting total assets of ₦577.75 million, although this was a decrease from ₦682.35 million in June 2024. Shareholders’ equity also took a hit, falling to ₦157.05 million from ₦331.31 million a year earlier, largely due to accumulated losses. The company’s retained earnings stood at a negative ₦163.29 million, reflecting the impact of continued operational challenges.

Cash flow from operations remained negative, with a net outflow of ₦23.59 million, while cash and cash equivalents dropped to ₦38.14 million from ₦60.62 million at the start of the year. The company’s investment portfolio showed modest growth, with equity instruments at fair value rising to ₦10.64 million, driven by gains in holdings such as Zenith Bank and Access Bank.

Trans-Nationwide Express reaffirmed its commitment to corporate governance, noting full compliance with regulatory requirements and no reported breaches of its securities trading policy. The board composition remained stable, with key committees meeting during the quarter and maintaining quorum. The company also confirmed that no director had any interest in contracts during the period under review.

With a share price of ₦2.15 at the end of June and a free float of 21.3%, Trans-Nationwide Express remains compliant with the Nigerian Exchange’s listing requirements. However, the financial results underscore the need for strategic adjustments to reverse the current trajectory and restore profitability.