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Europe and Asia boost turnover at UPS
Page 15
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GLOBAL PARCEL supply service UPS says its European and Asian arms performed strongly in the second quarter, overcoming a "challenging" small parcels market in the US.
Its consolidated results show a rise in turnover to S'l 22bn (€6bn) for the three months ending 30 June, compared with $11.7bn for the same period in 2006. Operating profit jumped to $1 .77bn from S1.7bn, resulting in an operating margin of 14.5%, up 0.1%.
However. its US business's operating profit dropped to $1.19bn from $1.23bn in 2006 and its operating margin fell almost 1% to 15.7%, But its European arm posted double-digit export volume growth, reflecting "strong cross-border growth".
UPS CEO Mike Eskew says: "Strong gains in our international package segment offset a lack of growth in the US business. We're also executing well in our supply chain and freight business and are pleased with the profit improvements in this segment."