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FedEx has reported a major upswing in profits for the three months to September, net income climbing more than 40%.

Its first-quarter revenue climbed 12% to $17.1bn, generating some $835m in profits, with chairman Fred Smith noting the success was due to “solid execution” of its business plan.

“We delivered high earnings, driven by a solid execution of our business plan and a strong US economy,” Mr Smith told investors.

“We’re very optimistic about prospects for profitable growth and remain confident we’ll improve ...

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