China Post Announces 1Q2011 Postal Results

5-6-2011 China Post
The first quarter of 2011 saw rapid growth in postal volume and revenue in China, according to China Post. Overall revenue was 40.21 billion yuan (excluding the postal savings bank), an increase of 27.5%; business revenue was 36.78 billion yuan (at 2010 constant price terms), an increase of 24.2%. Express delivery revenue was 15.66 billion yuan, an increase of 26.2%.

Universal Service
First quarter volume of letters was 1.81 billion, up 3.7%; package volume was 15,837,000, down 2.1%; newspaper distribution was 4.41 billion, an increase of 5.3%; Magazine was 270 million, up 4.5%.

Express
Express volumes was 710 million, an increase of 50.4%; business revenue of 15.66 billion yuan, an increase of 26.2%. Among them, the city courier business volume and revenues, respectively, were 160 million and 13.1 billion yuan, an increase of 57.2%, respectively, and 54.7%; traffic outside cities was 520 million, respectively, and 91.4 billion yuan respectively, up 51.9 % and 34.6%; international and express volume in Hong Kong & Macao increased by 5.9%, respectively, and 7.3%.

The increase in volume appears to be higher than a year ago, with revenues about 25% above last year, compared to GDP growth rates of 9.7%. Growth was concentrated in the express area, fueled by Chinese New Year, Spring Festival and other seasonal promotions on major e-commerce platforms. B2B increased 53.1% year over year. Operating income increased by 36.8% year over year. Average prices remain about the same as last year. [more in Chinese]