UPS 2Q profit plunges to $445 million

UPS Inc., the world’s largest shipping carrier, said Thursday that second-quarter profit plunged 49 percent to $445 million as sales slipped 16.7 percent amid the economic downturn.

The Atlanta-based company’s profit for the April-June quarter was equivalent to 44 cents a share, compared to a year-ago profit of $873 million, or 85 cents a share.

The surplus halved in the second quarter compared to last year again to 445 million U.S. dollars. Converted corresponds to a sum of 313 million euros. Turnover fell by 17 percent to 10.8 billion U.S. dollars, said the pre-consolidated at the company headquarters in Atlanta in the U.S. state of Georgia.

The economic environment remains difficult. CEO Scott Davis, but stressed: “We are a company that can survive the recession.”

For the current third quarter, UPS expects as for the past three months with a profit per share from 0.45 to 0.55 dollars.


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