OceanX: China post-CNY – less cloud, more balloon; Mærsk's moves; a tough Q4
Things are looking up, in China at least
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By Alex Lennane
UPS today posted second-quarter results which saw international operating profits up 17%, supply chain and freight operating profit up 18% and “strong” European growth. Total revenue was down 1.2% to $14.1bn, over negative currency impacts and lower fuel surcharges. UPS recently announced acquisition plans, for G4S security company’s logistics arm, and is in talks to buy Coyote Logistics, but its share price has fallen nearly 15% this year. These earnings, however, top expectations. Seeking Alpha has the results.
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