BUSINESS China's YTO Express sees lower revenue, profit in Q1

BUSINESS

China's YTO Express sees lower revenue, profit in Q1

Xinhua

22:13, May 05, 2020

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File photo: VCG

BEIJING, May 5 (Xinhua) -- YTO Express Group, a leading express delivery firm in China, saw lower revenue and profit in the first quarter (Q1) this year amid the COVID-19 epidemic.

The company's revenue in Q1 stood at 5.53 billion yuan (about 783.6 million U.S. dollars), down 14.12 percent year on year, according to its financial report filed with the Shanghai Stock Exchange.

Its net profit decreased by 25.74 percent to 271 million yuan in the period.

The courier sector has born the brunt of the COVID-19 outbreak at the beginning of this year, but it eyes better performance as the epidemic wanes.

As one of the earliest industries to restore operation, the courier sector has resumed its normal delivery capacity, according to the State Post Bureau. 

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