UPS Net Income Increases 28.5%
United Parcel Service said a growing U.S. economy and booming international trade helped to generate a 28.5% increase in profits for the third quarter of 1999.
Worldwide revenue rose 9%, to $6.72 billion from $6.16 billion.
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The Atlanta-based package carrier earned $577 million in the three-month period ended Sept. 30, compared with $449 million in the same period a year ago.
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In the United States, domestic package revenue was $5.57 billion, an increase of 8.3% from $5.15 billion, reflecting a 6.8% average daily volume increase, improved product mix and higher revenue per piece, UPS said. Domestic package operating profits rose 16.1% to $879 million, from $757 million a year ago.
