UPS results up on international growth

EXPORT    GROWTH

Global - UPS's buoyant fourth quarter results was driven by a strong showing in the company's international segment, the company said.

The logistics company announced diluted earnings per share of $0.75 for the fourth quarter of 2009, above the company's original guidance of $0.58 to 0.56 per share, attributing it to strong performance by its international segment.

The international segment saw volume growth, a substantial gain in operating profit and improvement to a 16.7% operating margin.

UPS generated a free cash flow of US$4.1 billion and posted adjusted operating profit of US$4 billion for 2009. Operating profit was US$3.8 billion.

UPS's export volume grew 10% in the fourth quarter year on year in the Asia Pacific region. Its Hong Kong arm saw the strongest recovery with export volume growing more than 25%, while Vietnam and Malaysia grow more than 20% and 15% respectively.

"We saw a strong life in the flow of goods in the four quarter with Asia to Europe volumes jumping 20% and intra-Asia volumes growing nearly 10%," said Derek Woodward, president of UPS Asia Pacific.

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