ZTO Express' Q3 Profit Rises on 18% Revenue Increase

MT Newswires Live11-20

ZTO Express (Cayman) (HKG:2057) said net income attributable to ordinary shareholders rose to 2.40 billion yuan in the third quarter from 2.35 billion yuan in the year-ago period, according to a Wednesday filing with the Hong Kong Exchange.

Earnings per share at the logistics company increased 2.8% to 2.90 yuan from 2.84 yuan in the previous year.

Revenue grew 18% to 10.68 billion yuan from 9.08 billion yuan a year earlier.

ZTO said parcel volume is expected to increase by up to 12% to between 33.7 billion to 33.9 billion in 2024, the filing said.

Shares fell 2% during Wednesday's trading.

Price (HKD): $162.00, Change: $-3.7, Percent Change: -2.23%

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