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UPS profit hit by high costs during holiday season


    DETROIT (Reuters) - United Parcel Service Inc on Tuesday reported a slightly lower quarterly profit after a disappointing peak holiday season during which its costs were higher than expected.

    The world's largest package delivery company reported a net profit for the fourth quarter of $1.15 billion, down nearly 2 percent from $1.17 billion the previous year.

    Atlanta-based UPS (UPS.NY)posted earnings per share of $1.25, unchanged from a year earlier and meeting the expectation of analysts.

    (Reporting by Nick Carey; Editing by Bernadette Baum)