UPS freight division builds group revenue on higher rates

UPS Freight, the over-the-road heavy freight division of United Parcel Service, has seen full-year profit up 13.6 per cent to US$2.2 billion gained by higher rates on its less-than-truckload shipments.


Despite a slight volume increase of one per cent year on year by hauling a daily average of 39,500 shipments its yield (revenue per hundredweight) jumped 8.4 per cent up from $17.69 to $19.18 per hundredweight, reports Newark's Journal of Commerce.


Its fourth quarter revenue increased by 22.6 per cent to $580 million with a boost of LTL shipments up 9.6 per cent daily and 7.7 per cent overall. LTL gross weight hauled was up 10.4 percent to 2.6 million pounds.


The group's overall profit, including its domestic and international package divisions, doubled year on year to $597 million in 2010 from a revenue increase of 16.5 per cent to $8.7 billion.
(Source:http://www.schednet.com)