New US parcel surcharges may hasten predicted end of free shipping
Not for the first time the parcel market appears like a battleground to expand or ...
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By Alex Lennane
UPS has announced a 6.2% increase in revenues in the first quarter, to $15bn, leading to an operating profit of $1.784bn, down 2% year-on-year. Its supply chain and freight division saw a 22% rise in operating profit, on 14% revenue growth and it also credited its overall income increase with “strong underlying performance in the International segment and solid results in the domestic segment”.
The company saw tonnage increases in its freight forwarding and freight division, with good results in healthcare, retail and aerospace, it said.
“We are extremely pleased with the growth and margin enhancing performance of the Supply Chain and Freight segment this quarter,” said chief David Abney. “The team has been working on growth initiatives, cost reduction programs and business unit portfolio strategies to address unique market conditions for the last several quarters. These initiatives showed excellent progress.”
Its international division, meanwhile saw a revenue increase of 4.9%. You can see the full results here.
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