International Shipping Boosts UPS Profits

Strong gains in international shipping contributed to a 19 percent jump in adjusted net income and an 8.2 percent rise in revenue for the fourth quarter, United Parcel Service said yesterday.

For the full year, consolidated revenue increased 7.1 percent while operating profit rose 8.5 percent.

International package revenue rose 17 percent in the quarter, and operating profit increased 56 percent. U.S. package revenue rose 7 percent in the quarter while operating profit was up 9.6 percent.

UPS said its U.S. package volume should grow about 4 percent in 2004 while continued strength in the international segment should bring a 20 percent increase in profitability.

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