Tag: UPS

UPS and Canadian Union of Postal Workers begin court battle

Posted by | Feb 1, 2005 | |

A court battle between American courier giant UPS and the Canadian Union of Postal Workers began in Ontario last Monday after UPS accused Canada Post of unfairly violating Chapter 11 of NAFTA. This chapter allows corporations to seek compensation when government policies are deemed to harm their businesses. According to UPS, the fact that Canada Post is publicly funded gives it an unfair advantage over private delivery companies.

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UPS freezing hiring and cutting costs after volume weakens

Posted by | Jan 28, 2005 | |

UPS Inc said it is implementing a management hiring freeze and will work harder on reducing costs as it reported disappointing fourth-quarter results that included weaker-than-expected domestic ground volume.

The Atlanta-based company also said Thursday that while it expects strong earnings and overall growth in 2005, its U.S. ground volume is only expected to rise 2 percent to 3 percent, which would be below the 3.5 percent the economy is projected to grow this year.

UPS shares fell USD1.49, or 2 percent, to close at USD74.01 in Thursday trading on the New York Stock Exchange. Its shares have fallen about 15 percent since Dec. 9, when the stock closed at USD87.53. It traded as high as USD89.10 on Dec. 10.

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UPS upbeat over forecast for 2005

Posted by | Jan 28, 2005 | |

UPS has insisted its weak performance in the last three months of 2004 was an isolated blip and forecast “solid” growth this year, driven by surging international business, particularly in China.

However, guidance for first-quarter earnings was at the lower end of analysts’ expectations, deepening concern that the world’s largest package delivery company could be losing ground to rivals FedEx and DHL.

UPS pledged to reduce annual costs by Dollars 200m and launch an initiative to win more business from mid-sized US businesses in response to its disappointing end to last year.

The company warned two weeks ago that its fourth-quarter earnings would fall below expectations because of reduced growth in domestic ground deliveries.

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UPS 4th quarter shows 10% revenue gain

Posted by | Jan 27, 2005 | |

UPS today reported a solid revenue gain of 10.2% in its fourth quarter and earnings of USD0.76 per diluted share, up 1.3% compared to the prior-year period. For the full year, revenue increased to a record USD36.6 billion while net income climbed 15%. Consolidated revenue for the three months ended Dec. 31, 2004, rose to USD9.84 billion, with strong double-digit growth reported by the international and non-package segments and a 6.6% increase by the US domestic segment. “Our global small package business remains strong and 2004 was an excellent year,” said Scott Davis, UPS’s chief financial officer. “UPS delivered almost 3.6 billion packages in 2004 – the most in our history – although we were disappointed with our US ground volume growth in the fourth quarter. As a result, we will focus several new efforts in this area in the coming months.”

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Exel surges on talk of bid from UPS

Posted by | Jan 25, 2005 | |

Shares in Exel PLC surged over 4 pct in midmorning deals on speculation the UK transport logistics company could receive a takeover bid from US postal giant UPS, dealers said. Dealers argued such a deal would be logical and noted there are rumours circulating that Deutsche Post could also be eyeing Exel. Analyst Andrew Beh at ING said Exel would be a great fit for both UPS and Deutsche Post. Beh highlighted a report he published back in Nov 2004 which noted the potential for consolidation in the support services sector, with Exel specifically mentioned as a takeover target. ING pointed out consolidation in the sector would most likely involve quoted companies that have been awarded mail licences, such as Hays DX or Business Post Group. Yet the broker added that Exel, as a specialist logistics provider, is looking increasingly isolated.
In short, ING believes the most likely tie-ups will involve Deutsche Post World Net(DPWN)/UPS/Kuehne & Nagel and Exel/Wincanton.

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