UPS sales rise 9.6pc

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UPS turned over $17.5 billion in the second quarter, 9.6 per cent up on last year, while net income was up from $1.4bn to $1.5bn.

“UPS is making great progress on our transformation initiatives to enhance profitable growth and improve operating leverage,” said chairman and chief executive David Abney.

“We are confident that our strategies will position the company to provide improved value for customers and shareowners.”

The supply chain and freight business increased revenue by 16 per cent to £3.5bn, with operating profit increasing from $212m to $216m after transformation charges of $31m.

International express revenue was up 14 per cent to $3.6bn, while operating profit rose from $570m to $618m.

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