updated 7/21/2005 6:27:48 PM ET 2005-07-21T22:27:48

UPS Inc., the world’s largest shipping carrier, reported Thursday a more than 20 percent jump in second-quarter profit on strong growth in revenue and said its full-year earnings will be at the higher end of its expected range.

UPS said it now expects an increase of 18 percent to 20 percent in earnings per share for all of 2005. In May, UPS executives said at an investor conference in New York that the company expected full-year profit growth to be in the range of 16 percent to 20 percent.

Atlanta-based UPS earned $986 million, or 88 cents a share, for the three months ending June 30, compared to a profit of $818 million, or 72 cents a share, for the same period a year ago.

Analysts surveyed by Thomson Financial were expecting earnings of 86 cents a share.

Revenue rose 14.9 percent to $10.19 billion, compared to $8.87 billion recorded a year ago.

“UPS is a company that’s on the move,” said Mike Eskew, the company’s chairman and chief executive officer. “Our U.S. domestic volume climbed well above our expectations. And the international segment’s performance was outstanding with export volume growth exceeding 18 percent.”

Despite the results, UPS remains locked in a protracted labor battle with its pilots. Federal mediated talks are currently on hold.

For the first six months of the year, UPS said it earned $1.87 billion, or $1.66 a share, compared to a profit of $1.58 billion, or $1.39 a share, for the same period a year ago. Six-month revenue rose 12.9 percent to $20.08 billion, compared to $17.79 billion recorded in the same period a year ago.

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