UPS first quarter up 37pc, international package boost

UPS first quarter earnings increased 37 per cent on the back of stronger than expected growth in both the International Packages, up 18 per cent, and Supply Chain and Freight, up 14 per cent, showing its first year-on-year growth in 24 months.

UPS chief financial officer Kurt Kuehn said despite the challenges of 2010 economic recovery the firm had "gathered steam through the year" with international daily volumes and non-US domestic throughput increasing more than 24 per cent, domestic volume by one per cent.

"As it turned out, revenue [seven per cent] was stronger than we expected due to international volume, increased yields in the US and growth in forwarding and logistics," he said.

(Source: www.schednet.com)