STO Express, one of China’s top delivery companies, saw its net profit grow 16.2 percent year on year in the first half of this year as the country’s courier sector expanded rapidly.
Net profit totaled 867.5 million yuan (about 126.3 million U.S. dollars) in H1, according to financial results filed by the company to the Shenzhen Stock Exchange. The company attributed the profit increase to growth in business volume and better cost control.
During the period, the company’s operating revenue went up 19.4 percent year on year, reaching 6.6 billion yuan. The company delivered more than 2 billion parcels in H1, up 18.7 percent year on year, accounting for 9.3 percent of the total courier business volume in the country.—Xinhua