Parcel delivery company UPS has announced that its profits increased by 41 per cent in the last year, reaching £55.5 million. 

This was for the year ending December 31st 2014 and the figure represents a significant increase on the corresponding figure of £39.2 million that was recorded at the end of 2013, Logistics Manager reports. 

The firm's operating profit margin also increased from 5.2 per cent to 6.6 per cent for the same period. 

An increase of ten per cent was registered for turnover - and the company stated that it expects both domestic and international revenue to continue this growth trajectory for at least the next three years. 

However, operating profit at UPS SCS - the firm's forwarding and logistics management services provider - dropped from £3 million to £2.94 million.