UPS reports 2007 growth

UPS reported more than 15% growth for the quarter in Asia Pacific compared to the same period last year, aided by good performances in the company's international, supply chain and freight sectors.

The company said growth in the region was driven by strong performances of over 30% in China and almost 25% in India. The Asia region delivered growth of nearly 20% for the entire year of 2007.

Singapore reported growth of nearly 10% for the quarter, and more than five percent for the year. Mary Yeo, managing director of UPS Singapore, said UPS's strategy of offering comprehensive and integrated logistics solutions to customers is reflected by the growth recorded by Singapore and Asia Pacific.

Revenue went up 6.1%, driven by a double-digit increase in international export volume, growth and firm pricing in the US package business and gains at UPS Freight, the company said in a release. Meanwhile, revenue for international supply chain and freight in the fourth quarter went up by 7.8% and operating profit increased $83 million over last year’s figures. 

Globally, UPS delivered 3.97 billion packages for the full year on an average of 15.8 million per day. Consolidated average daily package volume was 17.7 million pieces which is an increase of 359,000 pieces per day.

Revenue for international package increased by 17.3% on daily export volume growth of 12.2%. 

In 2007, the company invested $2.8 billion in capital expenditures and purchased 35.9 million shares for $2.6 billion

For 2008, UPS’s chief financial office Kurt Kuehn predicts “earnings per share for the quarter should be within the range of $0.94-to-$0.98. For the full year, we expect earnings per share to be between $4.30 and $4.50.”