Express delivery giant SF posts nearly 20 percent rise in first-half profit

Chinese express delivery services giant SF (6936) posted a 19.4 percent rise in first-half net profit to 5.74 billion yuan (HK$6.27 billion) and lifted the interim dividend by 15 percent to 46 fen.

Revenue for the period climbed by 9.3 percent to 146.9 billion yuan, as it delivered a total of 7.85 billion parcels, representing an increase of 25.7 percent year-on-year, outpacing the overall growth rate of the express delivery industry, the courier said in a filing on Thursday. 

Gross profit margin in the six months dipped by 0.6 percentage points to 13 percent amid intensifying competition in the domestic market and the volatility in the international trade environment, SF said.