FedEx 4Q beats expectations, but profit falls 45%

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By Alex Lennane

19/06/2013

FedEx has announced its fourth quarter results – and profit is down 45% from a year ago. Nevertheless, it was better than expected. The express operator blamed customers choosing cheaper delivery options, caused by weak economic growth, and its restructuring programme. Meanwhile, it said, it would cut capacity between the US and Asia.

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