Splurges in the US and Europe helps UPS deliver higher profits

 
Chris Papadopoullos
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UPS saw daily US deliveries climb by 2.4 per cent and exports to Europe by 9.4 per cent
DELIVERY firm UPS posted higher profits for the first three months of 2015, its financial results revealed yesterday.

For the period the world’s largest delivery company made 2.4 per cent more deliveries daily than the same time last year.

The company’s export shipments from the US jumped 6.7 per cent led by European growth of 9.4 per cent. In Europe, UPS’ export volume has grown at an annual rate of nine per cent since 2005.

Net profit came in at $1.03bn (£0.67bn), or $1.12 per share, up 10 per cent from $911m, or 98 cents per share, a year ago.

UPS chief executive David Abney said the results “were favourably impacted by our continued investments and revenue management initiatives.”

“These actions delivered high value to our customers and shareholders. We are on track to achieve the company’s long-term financial targets.”

UPS shares closed at $3.34 yesterday, a 3.43 per cent gain.