Supply chain and freight was the star performer for UPS in the second quarter with operating profit rising 41 per cent on an adjusted basis to $187m (£116m). Sales grew of seven per cent to $2.3bn (£1.44bn).
The adjusted operating margin rose from six per cent to 8.1 per cent, driven by significant improvements in the forwarding business as a result of revenue management initiatives and favourable buy rates.
Total group sales rose eight per cent to $13.2bn (£8.2bn) while operating profit was up 19 per cent to $1.67bn (£1bn).
Chairman and chief executive Scott Davis said: “UPS’s results reflect the continued execution of our strategy and the ability to grow earnings in an uneven economic environment. Customers are recognising the value of the integrated solutions that leverage UPS capabilities around the globe and across the entire supply chain.”
