SF Holding net profit rises 19% in H1

BEIJING - Chinese express delivery giant SF Holding posted a 18.6 percent year-on-year increase in net profit in the first half of the year amid rapid expansion of the country's courier sector, according to a company statement.

SF Holding's net profit attributable to shareholders stood at 2.2 billion yuan ($320 million) in H1, said the statement, which was filed to the Shenzhen Stock Exchange.

The company's operating revenue surged 32.2 percent year-on-year to 42.5 billion yuan, with revenue from the express delivery business up 31.7 percent to reach 42.2 billion yuan.

The revenue growth was well above the 25.8 percent revenue increase for the country's overall courier sector.

"A stable macro economy with a positive outlook effectively supported the sustained and healthy development of the courier sector."

As of the end of June, SF Holding's international standard and economy express delivery services covered 53 countries and regions including the United States and the European Union, while its small-parcel service for cross-border e-commerce sellers covered 225 countries and regions.

Revenue excluding taxes from international business reached 1.2 billion yuan in H1, up 40.8 percent year on year.