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UPS's quarterly profit hurt by severe winter

Reuters

(Reuters) - United Parcel Service Inc (NYS:UPS), the world's biggest courier company, reported a 12 percent fall in quarterly profit due to higher costs related to a severe winter in the United States.

The company's net income fell to $911 million (542 million pounds), or 98 cents per share, in the first quarter ended March 31, from $1.03 billion, or $1.08 per share, a year earlier.

UPS said total operating expenses rose 4 percent to $12.27 billion.

(Reporting by Sweta Singh in Bangalore; Editing by Maju Samuel)