News / Declining freight rates offset increasing volumes for Sinotrans

China’s largest freight forwarding and logistics group, Sinotrans, has reported largely flat trading results in its first year of being state owned.

Sinotrans, listed on the Hong Kong Stock Exchange, saw total revenues for the year came in at Rmb46.7bn (US$6.8bn) compared with Rmb45.5bn in 2015, representing a 2.8% growth.

It reported an operating profit of Rmb1.57bn, compared with Rmb1.64bn last year, while net profit grew from Rmb1.96bn to Rmb2.09bn.

Last year was the first in which the company formally became a subsidiary of state-owned port operator China ...