UPS Profit Rises 28% on Shipment Increase

United Parcel Service Inc., the world’s largest package-delivery company, said third-quarter profit rose 28%, exceeding its forecast, as shipments by manufacturers rose for the first time in three years.

Net income increased to $739 million, or 65 cents a share, from $578 million, or 51 cents, in the 2002 period, the firm said. Sales rose 7.2% to $8.31 billion.

The company’s shares rose 22 cents to $68.97 on the NYSE.

From Bloomberg News