AIRLINK 202.00 Decreased By ▼ -3.81 (-1.85%)
BOP 10.25 Increased By ▲ 0.01 (0.1%)
CNERGY 7.00 Decreased By ▼ -0.06 (-0.85%)
FCCL 34.10 Decreased By ▼ -0.56 (-1.62%)
FFL 17.08 Decreased By ▼ -0.02 (-0.12%)
FLYNG 23.85 Decreased By ▼ -0.83 (-3.36%)
HUBC 131.89 Increased By ▲ 0.71 (0.54%)
HUMNL 13.90 Decreased By ▼ -0.08 (-0.57%)
KEL 4.83 Decreased By ▼ -0.08 (-1.63%)
KOSM 6.71 Decreased By ▼ -0.10 (-1.47%)
MLCF 43.40 Decreased By ▼ -0.94 (-2.12%)
OGDC 219.70 Decreased By ▼ -2.07 (-0.93%)
PACE 7.06 Decreased By ▼ -0.16 (-2.22%)
PAEL 42.11 Decreased By ▼ -0.58 (-1.36%)
PIAHCLA 17.12 Decreased By ▼ -0.01 (-0.06%)
PIBTL 8.75 Increased By ▲ 0.33 (3.92%)
POWER 9.13 Increased By ▲ 0.04 (0.44%)
PPL 188.87 Decreased By ▼ -1.99 (-1.04%)
PRL 42.85 Decreased By ▼ -0.64 (-1.47%)
PTC 25.30 Increased By ▲ 0.51 (2.06%)
SEARL 101.60 Decreased By ▼ -1.06 (-1.03%)
SILK 1.02 No Change ▼ 0.00 (0%)
SSGC 42.50 Decreased By ▼ -0.24 (-0.56%)
SYM 18.00 Decreased By ▼ -0.40 (-2.17%)
TELE 9.09 Decreased By ▼ -0.17 (-1.84%)
TPLP 12.98 Decreased By ▼ -0.17 (-1.29%)
TRG 68.81 Increased By ▲ 0.03 (0.04%)
WAVESAPP 10.30 Decreased By ▼ -0.12 (-1.15%)
WTL 1.86 Increased By ▲ 0.06 (3.33%)
YOUW 4.23 Increased By ▲ 0.23 (5.75%)
BR100 12,000 Decreased By -33.8 (-0.28%)
BR30 36,611 Decreased By -166.6 (-0.45%)
KSE100 113,988 Decreased By -508.2 (-0.44%)
KSE30 35,809 Decreased By -194.2 (-0.54%)

United Parcel Service Inc said increased demand in domestic ground shipments lifted profits in the third quarter and expects online sales to boost shipping volumes as it heads into the holiday quarter. Shares in the courier company rose 2 percent on Friday before the markets opened.
Shipment volume and forecasts at UPS, along with rival FedEx Corp, are closely watched by Wall Street and considered an indication of overall economic health because of the vast amount of goods they transport. For this year's holiday season, UPS said it expects peak season daily volume to increase by 8 percent, with pick-up volumes for Cyber Monday increasing 10 percent. Earlier in the week, rival FedEx forecast an 11 percent rise for the same day, the Monday after Thanksgiving that is traditionally a big day for online holiday sales.
For the third quarter, UPS said daily ground shipping volumes rose 3 percent, while next-day shipping fell 3.3 percent. Clients have been trading down from pricey next-day air deliveries to more affordable shipping ways that take more time, to save money. For the third quarter, the Atlanta-based company earned $1.10 billion, or $1.16 a share, compared with $469 million or 48 cents a share a year earlier. The company expects earnings of between $4.65 and $4.85 per share for the current year. Revenue came in at $13.52 billion, up 3.4 percent over last year, mainly helped by US e-commerce shipments and strong European export growth.

Copyright Reuters, 2013

Comments

Comments are closed.