UPS third quarter profit up 80.5pc to US$1 billion

US GLOBAL express delivery company United Parcel Service (UPS) has reported net profits of US$911 million in the third quarter of 2010, up 80.5 per cent from US$549 million in the same quarter last year.

Revenue increased 93 per cent to $12.2 billion with domestic up by 6.2 per cent and international 10.5 per cent. The Atlanta-based company's supply chain and freight revenue increased 19.4 per cent to $2.2 billion.

UPS expects modest growth on the back of retailers' and economists' projections during the holiday season, said its chief financial officer Kurt Kuehn in an American Shipper report. "We are raising our full-year 2010 guidance with adjusted earnings per share expected to grow more than 50 per cent over last year."
(Source:www.schednet.com)