UPS sees earnings up 54pc

UPS reported a 54.41 per cent rise in net income to US$351.6 million for the quarter to March 31, compared with $227.7 million previously. Revenues rose by 3.53 per cent to $5.86 billion from $5.66 billion.

The company said profit was aided by cost-containment efforts as well as favourable fuel prices compared with 1997.