Logistics firm SITC jumps most in 11 months as annual profit nearly doubles

SITC International Holdings

10/03/2025 07:17

** Shares of shipping logistics group SITC International Holdings 1308.HK jump 8.3% to HK$19.28, on track for their biggest one-day pct gain since April 10, 2024

** Stock reaches the highest since February 11, and set to snap two straight sessions of falls

** Transportation and logistics solutions provider said its 2024 net profit surged 92.9% y/y to $1.03 bln, as container shipping volume and freight rate increased

** Revenue up 25.9% y/y at $3.06 bln and gross profit margin rose to 37.4% from 25.7%

** "Looking ahead to 2025, the industry still faces a lot of uncertainties, but the gradual return to normal conditions from disruptions will lead to overall overcapacity in the future" - co

** The Hang Seng Commerce & Industry Index .HSNC drops 2.4%, the Hang Seng Index .HSI falls 1.8%

** Stock down 7.6% YTD

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))