UPS continues growth spurt

UPS has announced positive results for Q2, reporting growth in revenue and record growth in international operating profit up 11 per cent, representing the sixth consecutive quarter of double-digit growth.

“We are investing to expand our global network, implementing new technologies and capturing new revenue in high-growth markets,” said David Abney, UPS Chairman and CEO.

“These strategic investments in our diversified business again this quarter generated strong value for our customers and shareowners.”

Revenue was up 1.1 per cent compared to the prior year, however currency and   lower fuel surcharges reduced revenue growth, UPS reported. 

Supply Chain and Freight revenue increased by more than 13 per cent to $2.5 billion, which UPS attributed mainly due to the acquisition of Coyote Logistics in the third quarter of last year. 

“UPS produced solid second quarter results, despite the continued uncertainty in the macro economy,” said Richard Peretz, UPS Chief Financial Officer. 

“The technology and productivity investments in our integrated network are delivering strong results.  We reaffirm our guidance for 2016 full-year diluted earnings per share of $5.70 to $5.90.”

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