E-commerce powers UPS record 2016 revenues

A US domestic e-commerce boom helped UPS’ last quarter revenues to accelerate by 5.5% across the global supply chain, leading to a full year record revenue result of $61bn for 2016.
The logistics giant saw US domestic fourth quarter revenue climb 6.3% to $10.9bn, “driven by e-commerce” while international export shipments soared 8.4%, led by the Asian and European regions.
David Abney, UPS chairman and chief executive, said: “Revenue and volume growth accelerated for UPS during the holiday season and we provided high service levels for our customers.  
“The International segment delivered another extraordinary performance, while the US managed through considerable changes in product mix. Our strategies and initiatives are creating long-term value for both UPS customers and shareowners.”
In a company outlook, UPS chief financial officer Richard Peretz said: “The investments in ORION and automation provided benefits during the quarter.  
“However, bottom-line results were challenged by a shift in product mix and the continued softness in industrial production. Strong growth, combined with our network investments, provide UPS with great opportunities for many years to come.”