China's YTO Express reports profit growth

BEIJING - YTO Express Group, a leading express delivery firm in China, saw increases in its revenue and profit in the first three quarters.

The company's revenue from express delivery stood at 23.42 billion yuan ($3.48 billion), up 8.34 percent year-on-year, according to its quarterly report filed with the Shanghai Stock Exchange.

Its net profit increased by 0.69 percent to 1.39 billion yuan in the first three quarters.

The courier sector bore the brunt of the COVID-19 outbreak at the beginning of this year, but the situation has improved as the epidemic wanes.