Dav8tor
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UPS adds Shenzhen as profits rise
The new UPS hub at Shenzhen Bao'an airport is designed for intra-Asia distribution
UPS reports a 32.9 percent net profit gain in the first quarter of 2010 to $533 million on total revenue of $11.7 billion - up 7.2 percent from the same quarter in 2009.
“UPS achieved significant operating leverage in an improving global economic environment,” said Kurt Kuehn, UPS’s chief financial officer. “We expect first quarter trends to continue through the year, producing revenue growth and additional operating leverage,” he noted.
During the period, UPS also completed its new $180 million, 89,000 square meters Asia Pacific hub at Shenzhen Bao'an airport in China’s Pearl River Delta.
“We want to be where our customers need us most,” said Dan Brutto, president of UPS International. “Since we began flying directly to China in 2001, we have watched this region grow exponentially not only from a small package perspective but also in heavy air freight. Given the growth in shipping along the southern rim of China, it now makes more sense to sort and dispatch this volume from a hub closer to our customers.”
The company has also opened the second phase of its Worldport air hub expansion in Louisville, Kentucky, and introduced Smart Pickup - a service that combines customer and operational systems to ensure a driver stops only when a package is ready for shipment. The process is expected to save the annual cost of driving eight million miles.
UPS reports a 32.9 percent net profit gain in the first quarter of 2010 to $533 million on total revenue of $11.7 billion - up 7.2 percent from the same quarter in 2009.
“UPS achieved significant operating leverage in an improving global economic environment,” said Kurt Kuehn, UPS’s chief financial officer. “We expect first quarter trends to continue through the year, producing revenue growth and additional operating leverage,” he noted.
During the period, UPS also completed its new $180 million, 89,000 square meters Asia Pacific hub at Shenzhen Bao'an airport in China’s Pearl River Delta.
“We want to be where our customers need us most,” said Dan Brutto, president of UPS International. “Since we began flying directly to China in 2001, we have watched this region grow exponentially not only from a small package perspective but also in heavy air freight. Given the growth in shipping along the southern rim of China, it now makes more sense to sort and dispatch this volume from a hub closer to our customers.”
The company has also opened the second phase of its Worldport air hub expansion in Louisville, Kentucky, and introduced Smart Pickup - a service that combines customer and operational systems to ensure a driver stops only when a package is ready for shipment. The process is expected to save the annual cost of driving eight million miles.
