17pc profit rise for UPS

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UPS has reported a 17 per cent rise in adjusted operating profit to $2bn for the fourth quarter of 2011. Sales rose six per cent to $14.2bn.

During the quarter, UPS delivered 1.13 billion packages, an increase of 3.6% over the previous year.

In the supply chain and freight division,  adjusted operating profit for the fourth quarter grew 11% to $199 million on revenue growth of 2.1%.  The adjusted operating margin for the segment increased 70 basis points to 8.5%.

“UPS delivered record fourth quarter results in volume, revenue and profitability,” said Scott Davis, UPS chairman and chief executive.  “In short, the quarter was a testament to the power of UPS’s global model and the company’s ability to operate efficiently in evolving markets.”

And chief financial officer Kurt Kuehn said:  “This was made possible by our balanced world-wide presence, broad portfolio of solutions and the best people in the business. Looking to 2012, our expectations are for mixed economic growth around the world, with modest improvement in the US  However, UPS projects another strong year of earnings.”

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