Strong growth for UPS
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Manufacturing News, Source : The Manufacturer US
Published : 19 Oct 2006 21:55
UPS has reported solid revenue and profit growth for its most recent quarter on a healthy 5% rise in global small package volume.
Consolidated revenue for the quarter ending Sept. 30, 2006, increased 10.5% and diluted earnings per share increased 11.6% to $0.96. The growth in small package volume translated to 721,000 additional packages each day in the UPS network.
The company also said it is taking significant steps to improve the profitability of its forwarding and logistics business, confirming it will eliminate 20% of the non-operating expense in the business unit.
"UPS is moving forward with confidence," said Chairman and CEO Mike Eskew. "Our small package business continues to show strength across all segments and we are taking the steps necessary to put our supply chain business on the right track after a disappointing performance."
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