BRIEF: S.F. Holding reports first-quarter profit, revenue growth

6936.HK 002352.SHE

Logistics firm S.F. Holding Co. Ltd. (6936.HK, 002352.SZ) reported on Monday its revenue rose 6.9% year-over-year to 69.8 billion yuan ($957 million) in the first quarter, while its net profit climbed 16.9% to 2.23 billion yuan. Excluding non-recurring items, its quarterly profit increased 19% year-on-year to 1.97 billion yuan.

The company handled 3.56 billion parcels during the quarter, up 19.7% year-on-year. Revenue from its express logistics business increased by 7.2% year-on-year, as it continued efforts to enhance its product portfolio and strengthen its service competitiveness. Quarterly revenue from its supply chain and international business increased by 9.9% year-on-year, as it boosted its international network capabilities.

Shares of SF Holding opened up 1.3% at HK$37.80 on Tuesday. The stock is up about 10% from its Hong Kong listing price last year.

By Lau Chi Hang

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