UPS profit up 6.3pc to US$1.6 billion on 3.9pc revenue increase
2012 05 01
Details
US EXPRESS delivery company United Parcel Service (UPS) has posted 6.3 per cent first quarter profit increase to US$1.6 billion year on year, drawn on revenues of $13.1 billion, up 3.9 per cent.
Domestic revenue led the way with a 6.1 per cent increase to $8 billion. Foreign revenue was up 2.3 per cent to $3 billion as exports from Europe, Asia and Mexico increased.
The 4.3 per cent increase in delivered packages to one billion was attributed to rapid e-commerce growth and demand for lightweight shipping.
Operating profit in the company's supply chain and freight segment went up 19 per cent to $166 million, but revenue increased marginally because of excess capacity.
UPS has acquired TNT Express, Europe's second-largest package delivery company, for $6.8 billion, which stands to create the world's biggest logistics group with more than $60 billion annual revenue.
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