FedEx profit jumps, expects robust 2012

FedEx Corp's quarterly profit and outlook beat forecasts as higher shipping rates and tight cost controls more than offset a slowing economic recovery and high fuel prices.

The company will be spending more on technology and on fuel efficient aircraft, helping to increase revenue per package. Its shares gained 2.5 percent on Wednesday.

"Our actions to improve yields continue to drive revenue and earnings growth across our transportation segments," said FedEx Chief Financial Officer Alan B. Graf.

"Even with higher planned capital spending in fiscal 2012, margins, cash flows and returns are expected to improve year over year."

Read Full Article from Reuters

- Posted: 2011-06-22 11:02:28

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